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Pag-IBIG Fund was founded by virtue of Presidential Decree No. 1530 [1] [2] which was signed by President Ferdinand E. Marcos on June 11, 1978, to answer the national need for savings program and affordable housing financing. [3]
Pag-IBIG Fund: Social Security System or Government Service Insurance System members; and Pag-IBIG Fund member: Voter's identification card: Commission on Elections: Registered voters for elections: PRC License ID: Professional Regulation Commission: Professional License
Pag-IBIG Fund [ edit ] Since the implementation of Republic Act No. 9679 (RA 9679) in January 2010, also known as the Home Development Mutual Fund Law of 2009 (HDMF Law of 2009), mandatory Fund Coverage has been expanded to include overseas Filipino workers (OFWs).
The agency responsible for implementation is the Social Security System (SSS), and also the Government Service Insurance System (GSIS), the Philippine Health Insurance Corporation (PhilHealth), and the Pag-IBIG Fund (Home Development Mutual Fund) use the card. [3] The card was also suggested to be used as a voter ID. [4]
In December 2023, Pag-IBIG approved ₱12 billion credit line for the National Housing Authority, which will finance the development of 9,110 housing units nationwide (4,111 units in Quezon City, 1,377 in Valenzuela, 944 in Zamboanga City, and 535 in San Juan). [6] The 4PH Program is envisioned to create smart cities nationwide. [7]
In 2008, the Pag-IBIG Fund was awarded the United Nations Scroll of Honour for its outstanding and innovative housing programs, a first for any Philippine government agency. That same year, the Fund was given an AAA corporate rating, a distinction given to a government corporation for the first time. [citation needed]
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De Castro was chairman of the Pag-IBIG Fund when the ₱6.6 billion housing scam involving Globe Asiatique (GA) scam took place. [23] Throughout his vice presidency, de Castro had minimal limelight and was regarded only as "backup" for the then incumbent party coalition if ever President Arroyo was ousted.