Members of Pag-IBIG who are actively paying for monthly contributions should be updated with the Pag-IBIG Contribution Table. It is a simple table arrangement of data that contains the monthly compensation bracket of members and corresponding amount of contribution. The Pag-IBIG Contribution Table is important for Employed, Self-Employed, Voluntary as well as Overseas Filipino workers to keep track with the latest contribution amounts and avail its benefits.
The Home Development Mutual Fund (HDMG) or more commonly recognized as Pag-IBIG Fund in the Philippines is a state-owned corporation that primarily offers savings and housing loan programs to its members. It is mandatory for employees to pay for Pag-IBIG Fund Contribution monthly and all Filipino citizens are encouraged to be a member to enjoy its membership benefits. To be updated with how much is your monthly Pag-IBIG contribution, check the table below.
Pag-IBIG Contribution Table
|Monthly Compensation||Membership Savings (Contribution)|
|Employee||Employer (if any)|
|₱1,500 and below||1%||2%|
The monthly membership savings/contribution of an employee shall be shared with the employer. As of the moment, maximum monthly compensation to be used in order to calculate the membership savings/contribution is set to ₱5,000.
For instance, an employee member has a ₱15,000 monthly salary. The monthly contribution is NOT the 2% of ₱15,000 as most guides online says. The Pag-IBIG monthly contribution will be 2% of ₱5,000 set maximum limit which the amount should be ₱100 (calculated as ₱5,000 x 0.02). In cases when your monthly salary exceeds ₱5,000, your monthly contribution remains at ₱100 and employer’s counterpart (2%) also remains at ₱100. A total of ₱200 monthly contribution.
Pag-IBIG is an acronym which stands for Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno.
That was the Pag-IBIG Contribution Table and how to compute your monthly contribution. What do your think about this? Let us know in comment.