Members of Pag-IBIG Fund who are at least 65 years old may now claim their savings more easily, according to Vice President Jejomar Binay.
“Kinikila po namin ang inyong kontribusyon sa pag-unlad ng Pag-IBIG Fund at ang programa pong ito na kung tawagin ay ‘BalikSavings65’ ay isang pasasalamat at pamasko namin sa inyo [We recognize your contribution to the growth of Pag-IBIG Fund and ‘BalikSavings65’ is our way of thanking you and our Christmas gift to you],” Binay told the senior citizens who received checks for their savings.
“Kasama po sa halagang ito ang dibidendo na kinita ng inyong impok sa Pag-IBIG Fund. Ibig sabihin po nito, nakapag-impok na kayo, kumita pa ito. Ang kagandahan pa, mas malaki ang kita ng Pag-IBIG savings kumpara sa ibinibigay na interes ng mga bangko [Included in what you will receive are your savings dividends. You were able to save and earn. Your savings earn more compared to the interest given by banks],” he said.
According to the Vice President, the savings of members gained by at least 4 percent over the years, which is higher than the .025 to 050 percent annuity offered by banks.
Binay said the process for claiming the savings has also been simplified in response to the needs of senior citizens.
The elderly can submit a duly accomplished Provident Benefits Claim Form and present valid identification cards and NSO (National Statistics Office) certified true copy of birth certificate or other official documents that prove your date of birth such as passport and other valid government Ids.
They can download application forms from the Pag-IBIG website, the Vice President said.
He added that “special lanes” have been created for the beneficiaries and processing applications will take six working days, after which the Pag-IBIG savings can be withdrawn using Land Bank Cash Cards.
Binay said members may also receive their savings through checks.
Beneficiaries who are suffering from illnesses can issue a letter of authority to anyone who would then process their applications.
Binay urged other members to raise their monthly contributions through the Upgraded Savings Program so that they could gain larger dividends.