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Pag-IBIG urges employers with unremitted contributions to avail of penalty condonation

Top executives of Pag-IBIG Fund urged employers with unremitted contributions for their employees to avail of the agency’s penalty condonation program and settle their obligations – both prior and during the pandemic – free from any monthly penalty charge on delayed remittances.

Philippines , Filipinos , Filipino , Ferdinandr-marcos-jr , Acmad-rizaldy , Jose-rizalinol-acuzar , Department-of-human-settlements , Penalty-condonation-program , Fund-board-of-trustees , President-ferdinand , Secretary-jose-rizalino , Human-settlements

Pag-IBIG urges employers with unremitted contributions to avail of penalty condonation

Top executives of Pag-IBIG Fund urged employers with unremitted contributions for their employees to avail of the agency’s penalty condonation program and settle their obligations – both prior and during the pandemic – free from any monthly penalty charge on delayed remittances.

Philippines , Filipinos , Filipino , Ferdinandr-marcos-jr , Acmad-rizaldy , Jose-rizalinol-acuzar , Department-of-human-settlements , Penalty-condonation-program , Fund-board-of-trustees , President-ferdinand , Secretary-jose-rizalino , Human-settlements

Employers urged to avail of penalty condonation

MANILA - Top executives of Pag-IBIG Fund on Thursday urged employers with unremitted contributions for their employees to avail of the agency's penalty condonation program and settle their obligations - both before and during the pandemic - free from any monthly penalty charge on delayed remittances. "We at Pag-IBIG Fund recognize the significant role that the business community plays in allowing Filipino workers to gain Pag-IBIG membership, and in helping our nation continue to recover from the pandemic. That is why we are providing the means for employers to settle the unremitted Pag-IBIG contributions of their employees free from penalty charges. With this program, we expect more Filipino workers to enjoy the benefits of being a Pag-IBIG member in line with the call of President Ferdinand R. Marcos Jr. to provide a better life for all Filipinos," said Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development and chairperson of the 11-member Pag-IBIG Fund Board of Trustees. Under the agency's charter, employers are responsible for the registration and remittance of their employees' mandatory monthly Pag-IBIG contributions, which consist of the employee's contributions and the employer's counterpart share. With its penalty condonation program, eligible employers can now settle their employees' unremitted Pag-IBIG contributions without penalty charges. Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti, meanwhile, said the program is purposely broad in scope to aid in boosting economic activity. The program covers not only all unremitted Pag-IBIG contributions by employers during the pandemic but also all unremitted contributions even before the pandemic. Aside from having the penalty charges on their delayed remittances 100 percent condoned, employers who would be unable to settle their obligations in full may also opt for a payment plan that has a low monthly interest charge of 0.5 percent. Moti added that if the unremitted contributions being settled are those during the pandemic or those from March 2020 onwards, the interest charge on payment plans would be waived. "The Pag-IBIG Penalty Condonation Program we are offering is more extensive in coverage compared to the previous programs we implemented. With the program's favorable terms, employers are provided the means to update the monthly contributions of their employees, while maintaining a healthy cash flow to sustain their operations," he said. (PR) }

Manila , Philippines , Filipinos , Filipino , Ferdinandr-marcos-jr , Acmad-rizaldy , Jose-rizalino-acuzar , Department-of-human-settlements , Penalty-condonation-program , Fund-on , Fund-board-of-trustees , President-ferdinand

The SSS Housing Loan Restructuring and Penalty Condonation Program

Since 1958, Social Security System has been providing financial support to its members in acquiring their dream houses through the SSS Housing Loan Program. Given the current pandemic situation, it is understandable that some of our SSS members were greatly affected in terms of their employment status as well as…

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Short-Term Member Loan Restructuring and Penalty Condonation Program is back

When contingencies and emergencies arise, it is always good to have extra cash to tide you over. Of course, there are times when what you have is not enough and you need to procure additional funds to fulfill some important financial obligations. This is the time when SSS loans come…

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Apply now for the SSS Housing Loan Restructuring and Penalty Condonation Program

Owning a house is one of the ultimate dreams of every working Filipino and one of the biggest investments one can have because its value increases over time. Buying your own house is a great advantage as it gives you a feeling of security, safety and belongingness, and it also…

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SSS rolls out relief programs for pandemic-hit borrowers

SSS rolls out relief programs for pandemic-hit borrowers
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