Workers of business firms in Urdaneta to be covered by Pag-IBIG

URDANETA CITY, Nov. 27 (PIA) – Employees of business establishments here will soon be members of the Home Development Mutual Fund (Pag-IBIG Fund).

 The state’s housing agency signed an agreement with the Urdaneta city government for the compulsory membership of all employees of businesses operating in the city.

 Mayor Amadeo Gregorio Perez IV led the MOA signing with Pag-IBIG Fund’s Area Manager for Regions 1, 2 and CAR Lilia Anguluan and Pag-IBIG Urdaneta City Branch Head Meriam Pamittan at the City Hall last week.

Under the agreement, the city government will require all business owners to secure a certificate of employer registration (COER) clearance from the Fund before a Mayor’s permit be granted to them.

 The compulsory membership is pursuant to City Ordinance No. 6, series of 2013 entitled “an ordinance requiring all business employers applying for or renewing their business licenses or Mayor’s permits to secure a COER clearance from Pag-IBIG Fund as a pre-requisite to the issuance of the same.”

 The measure was passed the Sangguniang Panlungsod last October 7.

 Anguluan said the mandatory coverage of all employees is also in compliance with Republic Act No. 9679, or the Pag-IBIG Fund Law, which aims to improve the quality of life of the Filipino workers by providing them with sufficient shelter and an integrated nationwide provident savings system.

 “Becoming a member of Pag-IBIG Fund is a way to save for the future,” said Anguluan.

 She said aside from the savings, members will earn a dividend rate which is higher than the bank interest rate.

 Bank interest rate ranges from one to two percent while Pag-IBIG Fund dividend rate varies depending on the net income of the Fund by year-end.

 “If you’re a member, the more you borrow from Pag-IBIG Fund, the higher will be your dividend rate and the higher would be the income of Pag-IBIG Fund but the earnings go back to members and not pocketed by Pag-IBIG Fund employees,” she added.

Anguluan also mentioned that members could avail of the Fund’s program such as the multi-purpose loan (MPL), calamity loan and the Modified Pag-IBIG II (MP2).

 MP2 is a savings scheme designed to provide Pag-IBIG I members with another savings option that would grant them with a yield higher than those given under the Pag-IBIG I membership program, she said.

 Meanwhile, Anguluan said that Pag-IBIG Fund will render new programs next year to provide members with better services.

One is the Pag-IBIG Fund privilege card where members can earn points or avail of discounts in shopping malls, pharmacies and even in schools and hospitals, she said.

“The Fund will also launch its health and education loan programs (HELPS) which is over and above the MPL program but has a lower interest rate,” she added.

 Mayor Perez said these benefits will give business employees a ready source for future necessities.

He assured Pag-IBIG Fund that the city government will set up a registration station or desk at the city hall during the Business One Stop Shop (BOSS) activity from January to February where business applicants can secure their COER clearance.

 Those who are not able to secure COER during the conduct of BOSS shall secure their clearance at the Pag-IBIG Fund office located at the 3rd floor of CB Mall here, said Perez.

 Urdaneta City is the first local government unit in eastern Pangasinan to undertake such activity. (MCA/AMM/PIA-1, Pangasinan)
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