President Ferdinand R. Marcos Jr. graced the Pag-IBIG Fund Chairman’s Report at the SMX Convention Center in Pasay City on Tuesday, March 28, 2023, where it unveiled the agency’s 2022 performance and the dividend rates on the members’ savings.
He praised Pag-IBIG for having its highest dividend rates since the pandemic. The regular savings dividend rate reached 6.53 percent in 2022 and its modified Pag-IBIG 2 savings climbed up to 7.03 percent per year.
Marcos also mentioned that the country is facing a 6.5 million housing backlog. He ordered the state-run Home Development Fund to work with other agencies to ensure adequate access to decent and affordable shelters. He urged them to “work closely” with the Department of Human Settlements and Urban Development (DHSUD) to find effective strategies to ease the country’s housing situation.
“So I call upon the Fund to further build on this growth and momentum to provide and to improve the lot of the Filipino workforce, and also to significantly assist in addressing our housing backlog as an industry leader in home mortgage financing,” he said.
Pag-IBIG Fund reported several record-high figures for the year: its net income reached a record high of P44.50 billion, a 28% increase from P34.69 billion in 2021; home loans reached P117.85 billion; total membership savings collected amounted to P79.90 billion, and loan payments amounted to P127.42 billion.
The agency also assisted the highest number of members with 105,212 securing new homes from its housing loan programs and over 2.61 million aided through its short-term loans.
Their total assets amounted to P827.40 billion at the end of the year.
Marcos reassured the Fund members’ financial position: “To see these results for 2022, the members will be assured as to the soundness of the Fund’s financial position, the safety of their own contributions and investments, and the Fund’s continuing reliability as a provider of key financial services and as a vehicle for their personal savings and investments.”
