PAG IBIG funds play a crucial role in supporting Filipino workers in achieving their dreams and affordable houses. Do you know how much Pag Ibig contribution for OFW? These workers can be both local and overseas. Hence, our government agency, PAG, is renowned for its Housing Loan Program. Now, it serves as a vital resource and assists all members, including OFWs.
Building a new house can be expensive, but with the assistance of our PAG IBIG fund, regular Filipinos can own an affordable nice home. So, employees can contribute to the Fund with each Fundlary conveniently. Meanwhile, employers handle the straightforward processing of these contributions. You can secure your residential properties through consistent monthly contributions.
CHECK: Pag IBIG Contribution Table
Eventually, all PAG loan owners examine the contribution rates at the beginning of the year for any updates. Likewise, you can ensure your membership continuity by maintaining your active account. Then, you may often check your OFW account status with a minimal 24 monthly contributions. Though, OFWs can analyze their maximum contributions in PAG IBIG Loan.
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OFWs Maximum Contribution in PAG IBIG
Well, Overseas Filipino Workers (OFWs), self-employed, employees, and employers need to be aware of the latest PAG-IBIG Contributions. This contribution table lets you understand your payments to PAG funds. So, this updated information serves as an official reference for determining your monthly contribution. Your usual contribution is P100, with a maximum of P5,000 compensation.
Fortunately, our Government agency has plenty of OFWs who regularly view our contribution table for the current year. This approach makes them confident about their Fund’s clarity. You can regularly check the latest PAG IBIG Contribution Table for Oversea-Filipino Workers. Remember, OFWs are those individuals whose employers are required to be covered by Funds.
| Monthly Wages | Contribution Rates for Foreign Employers | Contribution Rates for OFW’s | Total |
| Below and ₱1,500 | 1% | 2% | 3% |
| ₱1,500 – ₱4.999 | 2% | 2% | 4% |
| ₱5000 and above | 3% | 3% | 6% |
When OFW members’ employer isn’t obligated to have Pag-IBIG coverage. Their monthly salaries exceed P1,500, and their contribution rate is 2%. Therefore, up-to-date and active PAG IBIG individuals are eligible for loans provided by our agency.
SEE ALSO: How to Check PAG IBIG Contribution Online?
How can you Compute your OFW’s Contributions in PAG IBIG?
Once you’re going to calculate your contributions, the monthly compensation used for computation is a maximum of P5,000. Though both employer and employee contribute, with sharing P100.
P5,000 * 0.02 = P100
Thus, for those members who earn over P5,000 monthly, our system may automatically deduct the P100 from the employee and an additional P100 from the employer. The resulting entire sum serves as your PAG IBIG per month contribution.
OFWs Contribution Computation Sample (₱5,000 monthly earnings)
For OFWs, the maximum contribution is ₱5,000. Now you can calculate your Contribution as:
Here, you and your employer will contribute ₱150, and your monthly savings amount is ₱300.
Latest PAG-IBIG MID number and Monthly Contributions Submission for OFWs
OFWs must provide their MID numbers and make monthly contributions swiftly. You must follow the instructions of the Philippine Overseas Employment Administration (POEA).
However, OFWs can obtain their MID numbers from the virtual PAG-IBIG portal or POEA’s e-registration setup. This advanced aspect aims to ensure your continuous access to PAG-IBIG funding benefits. Meanwhile, you may prevent delays in your loan contributions and streamline other processes as well.
Well, the POEA system emphasizes the convenience for OFWs to pay their contributions, according to PAG. It ultimately enhances the well-being of Filipinos working abroad.
OFWs are expected to encode their PAG MID numbers into their POEA accounts during OEC processing. Your Overseas Employment Certificate must be verified through the e-registration system and ensure convenient OFW Contribution.
SEE THIS: How to Withdraw PAG IBIG Contribution?
Is PAG IBIG Contribution is mandatory?
Officially mandatory individuals are OFWs, self-employed employees, and Kasambahays. Our PAG IBIG system must consider these people to contribute to their successful loan process.
Therefore, this payout is optional for Voluntary members. So there is no penalty for skipping payments. We recommend you consistently remit your contributions, whether mandatory or voluntary. It ensures your eligibility for PAG-IBIG benefits and to build a more substantial retirement savings.
Conclusion
For Oversea Filipino Workers the entire Contribution is confirmed at 2% of their monthly income, as outlined in HDMF Circular No. 391. Meanwhile, there is an option to pay the employer counterpart of 2%. Additionally, your maximum monthly compensation considered for computing OFWs membership savings is ₱5,000.
Reference: https://www.pagibigfund.gov.ph/pop.html
