Pag-IBIG Savings Optional Withdrawal Guidelines

The circular implements an optional withdrawal program for members who registered under RA 7742 for continuous membership with the Fund.
The circular also covers members who voluntarily joined under EO 90.
For members registered under Presidential Decree No. 1752, the circular directs that withdrawal of TAV follows the rules and regulations on that PD.
The circular references HDMF Circular No. 203 and HDMF Circular No. 96 in connection with the ineligibility of members with outstanding housing loans.
The program is identified as Kaunlaran sa Pag-Ibig: Balik-Impok, Ginhawa Kaloob (KASAPI: BIG Ka).

The circular establishes an option to withdraw the Total Accumulated Value (TAV) as a reward to Pag-IBIG members who maintain continuous membership.
The reward option is structured around: (a) ten (10) years of continuous service and (b) 120 monthly employer and employee contributions without gaps after the effectivity of RA 7742.
The circular recognizes members registered under RA 7742 and provides an option to withdraw only the portions generated or collected after RA 7742 effectivity.

The circular applies to the Optional Withdrawal of Pag-Ibig Savings Program, also known as KASAPI: BIG Ka.
Members registered under RA 7742 may withdraw the total accumulated value (TAV) after the required continuity and contribution conditions.
Members who voluntarily joined under EO 90 are covered if they have contributed 120 monthly employer and employee contributions without gaps after the effectivity of RA 7742.
Only contributions generated or collected after the effectivity of RA 7742 may be withdrawn.
The TAV of members under EO 90 generated prior to RA 7742 effectivity remains with the Fund and is withdrawn only upon membership termination.
Members registered under PD 1752 follow the PD rules for withdrawal of TAV.

A member who has become eligible after the effectivity of RA 7742 may opt to withdraw TAV after 10 years of continuous membership and after making 120 monthly contributions, inclusive of employee and employer shares.
A member who completed 10 years but has gaps in monthly employee or employer contributions is not allowed to pay for lacking months to qualify for optional withdrawal.
A member who reactivates Pag-IBIG membership may claim savings only after completing the required 120 monthly contributions, reckoned from the first month paid after the gaps.
When counting the number of monthly contributions to satisfy the 120-month requirement, the period corresponding to the TAV applied to a member’s outstanding loan (offsetting) prior to the optional withdrawal is included.
The eligibility counting rule specifically applies when a member’s outstanding loan was satisfied through offsetting of TAV before the optional withdrawal.

Members are ineligible to withdraw Pag-IBIG savings under these guidelines if they have an outstanding housing loan, whether as principal or co-borrower, or as a sponsor, under HDMF Circular No. 203 or the Housing Loan Guidelines for Pag-Ibig members Registered under HDMF Circular No. 96.
Members with outstanding short-term loans are ineligible unless they fully pay their respective accounts.
For short-term loans, the circular disallows offsetting for purposes of eligibility.

The amount returned to the member consists of: (a) the member’s accumulated contributions, (b) the employer’s counterpart contributions (if applicable), and (c) credited dividends.
The TAV paid is computed up to the exact date the member’s contributions reach the 120th month.
Dividend computation uses the credited annual dividends as of the date when the application for provident savings benefit claim is filed.
If a member withdraws membership contributions in the middle of the year or any day before the last day of the current year, the member is not entitled to dividend benefits for that year because annual dividend earnings are declared and computed at yearend.
Annual dividends are based on actual remittances made.
Any subsequent contributions/dividends credited to the member’s TAV are treated as part of continuing membership.

After a member becomes eligible by completing 10 years of continuous membership, the member is given one (1) year from the exact date the member reaches the 120th month of continuous contributions for both employee and employer savings to file the claim for provident savings benefits.
If the member fails to or opts not to avail within the one-year period, the member may withdraw savings only on the 15th year, after making 180 continuous monthly employee and employer contributions.

Optional withdrawal of savings may be exercised only once.
The one-time option does not prejudice the member’s continuing membership in the Fund.
Exercising the option is not a ground to terminate membership in the Fund.
The member continues to be covered mandatorily by the Fund.
The member’s employer must continue to deduct and remit the employee’s required contribution together with the employer contributions.

Management is authorized to amend/modify/alter the guidelines in accordance with the authority granted by the Board of Trustees.
The circular takes effect immediately.