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Pinoy Abroad

Japan OFWs given moratorium on Pag-IBIG loan payments


The Home Mutual Development Fund (Pag-IBIG) Fund has announced a six-month moratorium on housing loan amortization payments, short-term loan payments and membership contributions for members affected by last week’s earthquake in Japan. In a statement, Vice President Jejomar Binay, who also chairs Pag-IBIG’s Board of Trustees, asked the government agency to find ways to extend calamity loans to affected Filipinos in Japan through online application and payments. Under the Pag-IBIG Fund program, members can borrow up to 80 percent of their total contributions to the Fund. Binay said this special assistance package for overseas Filipino workers (OFWs) in Japan is aimed at “providing some relief to affected Filipinos and their families as they try to get back on their feet after the calamity." He asked Pag-IBIG to immediately formulate the guidelines for the special assistance program to enable affected Filipinos to avail of the package the soonest possible time. Similar aid to OFWs from Libya Earlier, Pag-IBIG has also allowed Filipino workers repatriated from Libya to withdraw their contributions even before the maturity of their savings, as part of the agency’s special assistance to the displaced workers. Apart from withdrawing their contributions, OFW members from Libya may also ask for a moratorium on payment of their contributions and loans. According to Pag-IBIG Chief Executive Officer Darlene Berberabe, members who will avail of the special assistance package may withdraw their contributions even prior to the maturity of their savings, which normally takes 20 years. Under Republic Act 9679, Pag-IBIG membership is mandatory for Filipinos employed by foreign-based employers, whether they are deployed locally or abroad. Under this law, members may only withdraw their contributions upon maturity after 20 years and after making 240 contributions, or under any of the other valid grounds for withdrawal. These grounds include retirement, separation from service due to health reasons, permanent departure from the country, permanent disability or insanity, and death. Berberabe also said that with the special assistance program, members who are updated with their payment may also opt to continue their membership and avail of a six-month moratorium on payment of their membership contributions, short-term loans or housing loans. For members who will avail of the moratorium on loan payments, Berberabe explained their payments will be suspended for six months at no additional cost. She said no penalty and interest will be charged during the period, but the borrower’s loan term will be extended for another six months. She clarified, however, that members with outstanding housing loans are not eligible to apply for withdrawal of their savings. Pag-IBIG members in the National Capital Region may file their application for the program at the Pag-IBIG International Operations Group at the Justine Building in Makati, while those in the regions may file their applications with the nearest branch. OWWA financial aid for OFWs from Libya In a related development, Filipinos repatriated from Libya can now claim their P10,000 financial assistance from the Overseas Workers Welfare Administration (OWWA)'s regional offices. But Department of Labor and Employment (DOLE) Secretary Rosalinda Baldoz said the processing of claims will be on a first-come-first-serve basis. “I advised the OFW-repatriate to immediately file their claim," she said in a news release on the DOLE website. She said OFW-repatriates in the provinces should immediately contact the nearest OWWA regional offices for assistance in preparing the needed documents. On the other hand, Baldoz said some OFW-repatriates were not able to claim the P10,000 upon their arrival in Manila because they lack the needed requirements. This is due to accounting and auditing rules that OWWA should follow before releasing the financial assistance, she said. In Bicol, the DOLE regional office said the P10,000 financial assistance for overseas Filipno workers who returned from Libya has been released. Bicol Regional Director Alvin Villamor and OWWA Director Jocelyn Hapal confirmed that OFWs can now claim their P10,000 fund assistance at the OWWA field offices in Region 5. OFW returnees in Albay, Sorsogon, Masbate and Catanduanes can file their claims from Monday to Friday at OWWA Regional Office at 3rd floor ANST Bldg., F. Aquende Drive, Legazpi City while those coming from Camarines Sur and Camarines Norte can file claims at OWWA Satellite Office, 3rd Floor Raul S. Roco Bldg., City Hall compound, Naga City. But OFW-returnees from Camarines Sur and Camarines Norte are advised to go directly to OWWA Regional Office in Legaspi City on Fridays to personally claim the fund assistance. - KBK, GMA News

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