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PAG IBIG member can be allowed to refund their Total Accumulative Savings ( TAV )

There are different government agencies here in the Philippines that offer different avenues for Filipinos in order for them to save and earn more money.

Pag-Ibig has a fund that not most people know about. The fund offers different benefits and incentives that any Filipino would find useful and helpful. Pag-Ibig Fund assures and pledges that a Pag-Ibig member can be allowed to refund their Total Accumulate Savings (TAV). The TAV includes your accumulated contributions and the counterpart contributions of your employer. And if applicable, the dividend earnings credited to your account upon the existence of any of the following grounds below for withdrawal exist as well.

The following grounds for withdrawal are stated as follows:

  1. Membership Maturity – You must have already remitted at least a total amount of 240 monthly membership contributions with the Pag-Ibig Fund. While for the case that if you are a member of the Pag-Ibig Overseas Program (POP), the membership with the Pag-Ibig Fund should be at the end of 5, 10, 15, or 20 years. This would depend on the option you choose during the membership registration for the fund.
  2. Retirement – You must be and should be retired when you have reached the age of 65. Although, you may still opt to retire at the time of occurrence of any of the following instances stated below:
  • The actual and official retirement from the Social Security System (SSS), the Government Service Insurance System (GSIS), or from a separate employer provident or retirement plan. Provided that you have already reached the age of 45;
  • Or once you have reached the age of 60.
  1. Permanent and Total Disability / or in cases of Insanity – The list below are the disabilities that have been officially recognized as total and permanent:
  • Temporary total disability that has lasted continuously for more than 120 days;
  • If the member has completely loss the sight of his/her vision for both eyes;
  • The loss of two limbs may it be the ankle or the wrist;
  • A complete and permanent paralysis of any of the two limbs;
  • If any brain injury has happened that has resulted to incurable imbecility or also insanity;
  • Lastly, cases that are seen and diagnosed as a completely total and permanent disability by a duly licensed physician. And it has to be already approved by the Board of Trustees.
  1. Separation from the service due to whatever health reason
  2. Permanent departure from the country for whatever reason
  3. Death – In cases of death, the Pag-Ibig fund benefits will then be divided between the legal heirs of the member. It shall be in according to the New Civil Code that has been amended by the New Family Code.

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