Death Benefits in the Philippines
Late last year, when someone in our extended family passed away, I became familiar with some of the death benefits available for beneficiaries in the Philippines. In my extended family’s case, some of these benefits were claimed successfully while the others were denied for various reasons.
Saving Money with Modified Pag-ibig II — Higher Earnings, Government-Guaranteed
You want to save and grow your money? Modified Pag-ibig II (MP2) is a great savings plan. It has advantages over regular savings accounts, time deposits, or pre-need plans.
Pag-ibig Fund — How to Claim Death Benefits
You can claim death benefits from Pag-ibig Fund only if you’re a legal heir or beneficiary of a Pag-ibig member who has died.
Pag-ibig Membership — Voluntary or Individual Payor
How to be a Voluntary Pag-ibig Member
There are two types of membership:
Pag-ibig Benefits — Retirement Claims
Puede ko na bang kunin ang Pag-ibig retirement benefits ko?
PAG-IBIG Branches in Metro Manila, Cavite, Laguna, Bulacan
Here’s a list of PAG-IBIG branches in Metro Manila and in the nearby provinces of
Pag-ibig Retirement Linked to Pag-ibig Housing Loan
Your Pag-ibig retirement claim is linked to your Pag-ibig housing loan. Pag hindi mo pa
Pag-ibig Retirement in the Philippines — Process Your Claims Quicker
If you’re nearing retirement and you’ve had more than one employer, check as soon as you can if all the records of your contributions since your started contributing to Pag-ibig are already in one branch of Pag-ibig.
Pag-ibig does not consolidate the records of members whose employers are located in different Pag-ibig jurisdictions; it expects its members to consolidate their records.
It takes months to consolidate, so start now.
My husband, who had two employers and who also continued paying as a voluntary member while working abroad, had to track his contributions and consolidate them in one branch before he was allowed to submit his retirement claims.
The dollar-denominated Pag-ibig Overseas Program, however, is really separate. You make your claims separately at the Gil Puyat, Makati branch.
By the way, my husband has paid more than 240 monthly contributions, so he was to able to file a claim. But he’s still waiting because of the consolidation process.
Update as of March 2011:
My husband’s claim, which was processed over a span of several months in 2009, was rejected because Pag-ibig counted only 231 contributions. Pag-ibig advised my husband to pay nine monthly contributions, either monthly, quarterly, or at one time, but has to wait for 9 months before he can file his claim again. We didn’t yet refile because we decided the money can earn more with Pag-ibig than with a time deposit. We can use it for my daughter’s tuition fees in her higher years in college.
Related Articles:
PAG-IBIG Branches in Metro Manila, Cavite, Laguna, Bulacan
Pag-ibig Retirement Linked to Pag-ibig Housing Loan
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