Pag-IBIG Set Loan Program for Jobless Members

The Home Development Mutual Fund or Pag-IBIG Fund has announced that its members who are currently unemployed due to termination of employment contract, closure of company, lay-off, and retrenchment, will be able to avail loans from the agency under its new program.

According to Vice President Noli “Kabayan” De Castro, Housing and Urban Development Coordinating Council Chairman and Pag-IBIG Fund Board of Trustee, the Special Short Term Loan (STL) Program for Displaced Workers was created to aid workers who were affected by the global financial downturn.

According to the program, Pag-IBIG members who must have made at least 24 monthly contributions can borrow an amount equivalent to fifty percent of their total savings. The loan is payable in three years, including a one-year grace period.

Unemployed members with existing Multi Purpose Loan (MPL) can borrow up to 50 percent (50%) of their remaining savings as Pag-IBIG has already deducted or offset the balance of their earlier loan from their outstanding contributions. Pag-IBIG Fund has also cancelled any incurred penalties.

Pag-IBIG Fund Deputy Chief Executive Officer Jaime Fabiana said, in a news release, that members need to submit an accomplished MPL Application Form and a notice of separation from employment/termination of services or a certification of retrenchment or lay-off. Mr. Fabian added that the Fund shall coordinate with the Department of Labor and Employment to secure a list of companies that closed and a list of repatriated overseas Filipino workers.

For the members’ convenience, their loan will either be credited to the borrower’s bank account through the Land Bank’s Payroll Credit Systems Validation (PACSVAL) or the Philippine Domestic Dollar Transfer System (PDDTS) facilities, and other similar modes of payment. Proceeds may also be released through a check, payable to the borrower.

Members can pay their loan to any Pag-IBIG Fund office or to any of its authorized collecting agents or banks. Should they find employment at any time during the loan term, they may continue paying through their new employers.

For questions or inquiries on the new program, visit any Pag-IBIG Branch or call the Pag-IBIG hotline at (632) 724-4244 or visit their website at http://www.pagibigfund.gov.ph/

Trabaho.com thanks its following sources:

Pag-IBIG Fund Newsroom. Pag-IBIG ok’s new loan program for the out-of-work. (Posted April 29, 2009) Retrieved April 29, 2009 from
http://www.pagibigfund.gov.ph/nr_april09b.htm
Re-posted by Philippine News Agency at
http://www.pna.gov.ph/index.php?idn=0&nid=1&rid=201236

Balana, Cynthia, Philippine Daily Inquirer. New PAG-IBIG loans out for retrenched workers. (Posted April 28, 2009) Retrieved April 29, 2009 from
http://newsinfo.inquirer.net/topstories/topstories/view/20090428-201957/New-PAG-IBIG-loans-out-for-retrenched-workers

JOB FAIRS AND EVENTS eTelecare Recruitment @ Night In Ortigas Park by eTelecare WHEN: June 5, 2009 WHERE: Ortigas Park (in between Emerald Avenue and Ruby Road) Animo Triathlon 2009 by De La Salle brothers, SGH batch'81 and the Sunkist Tri Hard in cooperation with the Triathlon Association of the Philippines and the Ayala Alabang Village Association WHEN: June 14, 2009 WHERE: Ayala, Alabang ELECTRIFYENGG Zero Resistance - Engineering Opening Week 2009 by University of the Philippines Engineering Student Council WHEN: June 15-19, 2009 WHERE: University of the Philippines, Diliman, Quezon City Job World Job Fair Roadshow by Neotrade Enterprises WHEN: June 17-18, 2009 WHERE: Robinsons' Place, Manila 8th Metro Job Fair 2009 by AdExhibit WHEN: June 18-20, 2009 WHERE: SM Megatrade Hall 1, SM Megamall, Mandaluyong City BPO and Call Center Job Fair by Neotrade Enterprises WHEN: June 23-25, 2009 WHERE: Robinsons Galleria, EDSA cor. Ortigas Ave. Pasig City 3rd MedExpo 2009 by AdExhibit WHEN: July 30 - August 2, 2009 WHERE: SM Megatrade Hall 1, SM Megamall, Mandaluyong City

JOB ADS Bigbest Employment And Manpower Services Company - Cafe Operations Manager - Accounting Manager - Accounting Staff - HR Officer - Product Manager - Merchandising Manager - Medical Representative - Graphic Artist - Computer Technician - Secretary - Promodisers - Waiter/Waitress Paramount Life and General Insurance Corporation - Policy Service Assistant - Internal Auditor - Collection Assistant - Analyst/Programmer - Accounting Staff - Underwriting Clerk - Claims Clerk - Roving Cashier - Senior Trainer - Policy Accounting Assistant - Underwriting/Policy Issuance Staff - Accounting Assistant - Financial Accounting Manager - Purchasing Assistant FX Sagot, Inc. - Business Executive - Sales Division Manager Net1 Interactive Group Inc. - Stay at Home Telemarketer Trabaho Client #246 - Legal/Executive Assitant Trabaho Client #245 - Accounting Staff - Sales Engineer Norfil Foundation, Inc. - Executive Secretary - Training Coordinator Palau National Communications Corporation - Plant Facility Coordinator / Draftsman Justino Corporation - Sales Promodiser - Sales Coordinator Barbara's Food and Catering Services, Inc. - Accountant - Web Developer - Restaurant Manager Trabaho Client 244 - Executive Secretary Humania International, Inc. - Auto Electrician - Auto Spray Painter - Heavy Machine Electrician - Auto Mechanic - Plant Mechanic - Refrigeration Operator - Security X-Ray Machine Technician - Electronics Engineer - Domestic Helpers - Heavy Duty Driver - Structural Engineer - Barbers - Carpenter - Aircon Technician - All Around Beautician - Photographer (Female) Imperium Technology, Inc. - Senior System Administrators - Network Operation Manager Ayala Land Sales, Inc. - Premiere Property Specialist Victory System Plus - Executive Assistant Uniwork Inc. - Call Center Customer Service Representative - Call Center Sales Executive/Team Leaders - Junior Systems Administrator (LINUX) - Research Analyst - SEO Specialist - Web Copywriters - Internet Marketing Specialist - Human Resource Manager - Financial Research Analyst