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On Tuesday, President Ferdinand R. Marcos Jr. requested help from the Pag-IBIG Fund to help concerned organizations deal with the nation’s more than 6.5 million housing backlog.

He made the statement at the Pag-IBIG Fund Chairman’s Report for the announcement of its 2022 performance and the dividend rates on the members’ savings, held at the SMX Convention Center in Pasay City. “I call upon the Fund to further build on this growth and momentum to provide and to improve the lot of the Filipino workforce, as well as to significantly assist in addressing our housing backlog as an industry leader in home mortgage financing,” he said.

In order to develop practical solutions to improve the nation’s housing condition, he tasked the Pag-IBIG Fund to “work closely” with the Department of Human Settlements and Urban Development (DHSUD).

Under the DHSUD, the Pag-IBIG Fund is a government-owned and -controlled corporation (GOCC).

As they carried out their duties, Marcos’ officers and staff were urged to follow the values of accountability and transparency.

As public employees, “it goes without saying that we must uphold the trust and confidence reposed in us by government institutions, especially those of a financial nature and, more importantly, by the people,” he said.

He said that upholding this trust is “critical” to building on the successes of the Pag-IBIG Fund and accomplishing the administration’s housing objectives.

Developers, employers, members of the housing industry, and other partners were also thanked by Marcos for their crucial contributions to the Pag-IBIG Fund’s ongoing success.

“We thank you again for that partnership and that coordination with the government because it is this partnership that makes the Fund successful,” he said.

The President emphasized the need to develop these alliances and step up efforts to ensure that everyone has access to adequate, good, and reasonably priced housing.

He also acknowledged the 2.6 million members who make up the Pag-IBIG Fund as its main support system.

The Pag-IBIG Fund has developed into a financially sound and safe institution, boasting more than PHP827 billion in total assets, he said. “With the members’ continued support,” he added.

In order to maintain the Pag-IBIG Fund, Marcos also urged members to be “ever-productive” in their professional and business endeavors.

By the end of its tenure, the Marcos government hopes to have built 6 million housing units, or 1 million each year, according to the “Pambansang Pabahay para sa Pilipino”: Zero ISF (Informal Settler Family) 2028 Program.

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Marcos also praised the Pag-IBIG Fund for reaching its greatest dividend rates since the epidemic at the same time.

And for that, he congratulated them, telling them to give themselves a round of applause and a slap on the back. It is very encouraging that the Pag-IBIG Fund has stuck to its original vision over the years, which was to offer a secure savings program, and dependable and affordable housing – to be able to provide dependable and affordable housing loans for the benefit of its members. This has happened in spite of periods of volatility, uncertainty, and sometimes very complex challenges, including the supervening pandemic.

The Pag-IBIG Fund’s Modified Pag-IBIG 2 (MP2) Savings rate climbed to 7.03 percent annually, while its Regular Savings dividend rate for 2022 was 6.53 percent.

According to Department of Human Settlements and Urban Development (DHSUD) Secretary and Pag-IBIG Fund Chairperson Jose Rizalino L. Acuzar, Pag-IBIG had its best year in 2022 as the agency’s nett income hit a record-high of PHP44.5 billion, up 28% from PHP34.69 billion the previous year.

The agency also announced other record-breaking annual totals, including PHP117.85 billion in house loans, PHP79.9 billion in total membership savings, and PHP127.42 billion in loan payments.

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