Pag-IBIG Fund scores milestones despite pandemic | Inquirer Business
Housing Matters

Pag-IBIG Fund scores milestones despite pandemic

Amid the COVID-19 pandemic, a key shelter agency of the Department of Human Settlements and Urban Development (DHSUD) has remained steadfast in managing its financial resources and has continued to achieve milestones.

In the first quarter of 2021, the Home Development Mutual Fund (Pag-IBIG Fund), led by its CEO Acmad Rizaldy Moti, released P20.94 billion in home loans, up from the P15.77 billion recorded in the same period last year. For the first three months, Pag-IBIG Fund granted P2.2 billion worth of socialized home loans to 5,074 members from the minimum-wage and low-income sectors. Socialized home loans accounted for 11 percent of the P20.94 billion disbursed by the agency in the first quarter, and 25 percent of the 20,712 total number of loans it financed.

This was a clear testament to the role that Pag-IBIG plays as we move towards our goal of providing decent yet affordable housing communities to underprivileged Filipinos. Part of the DHSUD’s mandate is to provide Filipino families, especially the underprivileged and low-income earners, access to decent housing in well-planned communities. And Pag-IBIG Fund, as one of our KSAs, strongly pushes its wheels towards this direction.


In 2020, Pag-IBIG Fund released P63.75 billion in home loans allowing 63,750 members to acquire their own houses. Of the total amount, P7.18 billion was released as socialized home loans for the benefit of 16,975 members who belong to the minimum-wage and low-income brackets. In the same year, it registered a net income of P31.18 billion—the fourth straight year that it posted earnings of more than P30 billion. Again, such feat was accomplished amid the challenges caused by the pandemic and despite the imposition of payment moratoriums.


On top of providing members access to loans, the Fund’s MP2 Savings Program has become a popular investment channel as indicated by the record high P13.3 billion voluntary savings for 2020—up by 11 percent. Clearly, our members’ trust and confidence for Pag-IBIG Fund to manage their hard-earned money continued to rise. In return, the Board approved to declare 93.68 percent of its earnings (equivalent to P29 billion and which is more than what its charter requires) to be extended as a benefit in the form of dividends to its members.

Such positive developments are testament to our commitment to pursue President Duterte’s call for government agencies to continue providing social benefits to our citizens.

We are well aware that many Filipinos continue to dream of having a house of their own. The need for safe and resilient shelters, highlighted by the enforcement of community quarantines, was evidenced by a steady rise in home loans since the beginning of 2021.

With our perseverance and unity, we are optimistic that the number of housing loans released by Pag-IBIG Fund will continue to soar over the coming months, especially if the government allows more businesses to operate amid the easing of community quarantines.

The Pag-IBIG Fund has reached an all time high in various facets and areas last year, enabling more Filipino families to build and own homes. This year, it shows greater potential as we embark on a healthy financial standing in terms of member savings and home ownership.

For the housing sector, we will keep on innovating to further raise the value of our members’ money. Amid and beyond the pandemic, we will continue to build homes and communities that are affordable, sustainable and resilient.

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