QuestionsQuestions (HDMF PAG-IBIG FUND CIRCULAR NO. 205)
The guidelines implement the Optional Withdrawal of Pag-IBIG Savings Program, also known as Kaunlaran sa Pag-Ibig: Balik-Impok, Ginhawa Kaloob (KASAPI: BIG Ka). It allows eligible members to withdraw their Total Accumulated Value (TAV) as a reward for continuous membership after meeting specific contribution requirements.
It covers: (1) members registered under R.A. No. 7742, and (2) members who voluntarily joined under E.O. No. 90, provided they meet the 120-month contribution requirement. Members registered under Presidential Decree (P.D.) 1752 are excluded from these guidelines because their withdrawal is governed by the rules under P.D. 1752.
After the effectivity of R.A. 7742, a member may opt to withdraw the TAV after completing: (1) ten (10) years of continuous membership, and (2) 120 monthly employer and employee contributions inclusive of both shares, with no gaps after the effectivity of R.A. 7742.
The member is not allowed to pay contributions for the lacking months to qualify for optional withdrawal. In other words, gaps disqualify the member from eligibility under these guidelines.
If a member reactivates, the member may claim savings only after completing the required 120 monthly contributions reckoned from the first month paid after the gaps.
No. The circular expressly states that a member who has completed 10 years but has gaps in monthly contributions is not allowed to pay the lacking months to qualify for withdrawal.
For purposes of satisfying the required number of contributions, the period corresponding to the TAV applied to a member’s outstanding loan (i.e., offsetting) prior to optional withdrawal is considered in counting the total number of monthly contributions.
No. Members who have outstanding housing loans, whether as principal, co-borrower, or sponsor (as defined under the cited circulars/guidelines) are not eligible under Circular No. 205.
Generally no. Short-term loans disqualify the member unless the member fully pays the loan account. The circular also states that no offsetting is allowed in that situation.
The amount consists of: (1) the member’s accumulated contributions, (2) the employer’s counterparts contributions if applicable, and (3) the credited dividends.
The TAV to be paid is computed up to the exact date when the member’s contributions reach the 120th month.
The cut-off date for dividend earnings is the credited annual dividends as of the date the application for provident savings benefit claim is filed.
No. If the member withdraws before the last day of the year (or mid-year), the member is no longer entitled to receive dividend benefits for that year because the annual dividends are declared and computed at yearend. Dividends are based on actual remittances.
The circular clarifies that any subsequent contributions/dividends credited to the TAV of the member are considered part of continuing membership.
A member eligible after 10 years must file within one (1) year from the exact date the member reaches the 120th month of continuous contributions for both employee and employer shares.
If the member fails to or opts not to avail within the one-year window, the member may only withdraw on the 15th year, after making 180 continuous monthly employee and employer contributions.
Only once. However, exercising the option does not prejudice the member’s continuing membership in the Fund.
No. The exercise of the option is not a ground to terminate membership. The member continues to be mandatorily covered, and the employer remains obligated to deduct and remit required employee and employer contributions.
Management is authorized to amend/modify/alter the guidelines in accordance with the Board of Trustees’ authority. The circular takes effect immediately.