Expanded Modified Direct Payment Scheme Requirement
- DBM Circular Letter No. 2013-16, dated December 23, 2013, requires National Government Agencies and their operating units to implement the Expanded Modified Direct Payment Scheme.
- This scheme facilitates the settlement of accounts payable to creditors and payees of government agencies efficiently.
Pag-IBIG Fund's Adoption of Electronic Collection Platform
- Pursuant to Board Resolution No. 3114, dated May 26, 2015, Pag-IBIG Fund partnered with accredited banks to adopt and implement an electronic collection platform.
- The platform aims to improve the management and handling of remittance and collection of Pag-IBIG Fund contributions and loan amortizations from registered employers and member-borrowers.
Mandatory Enrollment and Remittance Procedures
- All employers must remit premium contributions and employee loan repayments through an electronic payment and collection facility accredited by Pag-IBIG Fund.
- Employers can obtain program or template file structures to prepare the monthly collection and remittance list from any accredited bank where they have enrolled and opened a Current/Savings Account.
- Remittances for Pag-IBIG Fund shall be debited directly from these accounts.
Compliance Deadlines and Conditions
- Employers with at least ten (10) employees are required to use the electronic payment and collection facility by July 31, 2016.
- Employers with fewer than ten (10) employees may continue to transact directly at any Pag-IBIG Fund office.
Guidance and Support for Employers
- Specific mechanics and procedures governing this Circular are accessible on the official Pag-IBIG Fund website (pagibigfund.gov.ph).
- Employers are encouraged to coordinate with the nearest Pag-IBIG Fund office for orientation and registration with accredited participating banks.
Repeal of Inconsistent Issuances and Effectivity
- Any previous issuances inconsistent with the provisions of this Circular are repealed or modified accordingly.
- The Circular takes effect upon its complete publication in a newspaper of general circulation, ensuring public awareness and compliance.
Administrative Authority
- The Circular is issued by the Chief Executive Officer of Pag-IBIG Fund, Atty. Darlene Marie B. Berberabe, formalizing the implementation process and regulatory framework.