How to Withdraw PAG IBIG Contribution

How to Withdraw PAG IBIG Contribution?

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The government agency in the Philippines, PAG IBIG, comes with funding for Filipino inhabitants. So, members from varying backgrounds join this agency to accomplish their tasks. They may come from varying fields, such as self-employed, employed entities, and OFWs. 

Therefore, the PAG IBIG loan offers a secure and established future. PAG aims to ensure that all the membership holders may withdraw their accumulated contributions. They are proficient in withdrawing their regular savings as well as dividend earnings.

CHECK: Can I Withdraw my PAG IBIG Contribution?

How to Withdraw PAG IBIG Contribution?

Eligibility Criteria of Contribution Withdraw from PAG IBIG

Mainly you need to know whether you’re able to withdraw your payment or not. Then you can withdraw or claim your regular savings. Regarding the criteria, you may qualify for your withdrawal if you fall in the following aspects:

Membership account Maturity

The membership account is measured as mature with at least 240 per month contributions. Meanwhile, PAG-IBIG POP members; and Overseas Program owners can withdraw their contribution at the last of 5, 10, 15, or 20 years. Their withdrawal time depends on their selected way during membership registration. 

Retirement

Borrowers can apply for the mandatory retirement loan at 65 age or optional retirement that happens at 60 age.so, here you may retire on any of the following occurrences:

  • Retirement at the age of 60
  • Retirement from the GSIS, separate retirement plan, or the SSS. It delivers at the age of 45.

Health

Suppose you or any other PAG Member has the following disabilities; these members are eligible. Hence, these disabilities are deemed:

  • Insanity
  • Entirely eyesight loss (both eyes)
  • The total disability that may last for above 120 days can be temporary for these days as well.
  • Departure from duty due to health instability
  • Permanent paralysis
  • Brain injury that may lead to an incurable disease
  • Loss of member’s limbs; over or a wrist or ankle
  • Critical illness of principal member or any immediate member and certified by a registered physician.
  • Service terminations permanently due to health reasons

CHECK: How to Claim PAG IBIG Contribution?

Migration

  • Country departure permanently
  • Suppose you have decided the permanently separate or migrate from the country. You are surely eligible for your contribution withdrawal. 

Death

When a loan owner passes away, his beneficiaries are proficient in claiming his member’s savings. This money is divided among his legal heirs according to the family code.

Withdrawal Documentation Requirements

The following paper-lets must be in your hand while going to withdraw your contribution:

  • PAG valid ID and transaction card
  • Withdrawal application form
  • Service statement (for AFP)
  • Your birth certificate
  • Service records (for Government workers) 
  • Without a transaction card, members must acquire the withdrawal with two valid IDs.

Extra Requirements

Claiming for Death Reasons

  • Proof letter of surviving legit heir person
  • Real individual’s death certificate
  • Marriage contract (just for the married community)
  • Certificate of beneficiaries’ birthdate
  • CENOMAR of unmarried

Health Reasons

  • Certificate from Physician

 Retirement Claims

  • Retirement letter (for AFP)
  • Early retirement letter (for private workers)
  • GSIS Retirement agreement(for Government employers)

Permanent Migration From Country

  • Passport copy
  • Certified declaration of intention to leave the Philippines permanently
  • Immigrant’s vise or other equivalent documents

How can you withdraw your contribution from PAG IBIG?

You want to acquire the whole process of claiming or withdrawing your contribution. Hence, you may undergo the following steps:

  • First, ensure that your documents are prepared
  • Visit to nearest PAG IBIG office
  • Now state your whole intent and show your documents
  • Our PAG authority lets your membership verify if you’re a current loaner or not, either a housing or short-term loan owner
  • Once your TAV and requirements are verified, you’re informed of the exact payout date.

Payout Modes

Although you’re undergoing the payment withdrawal process, your payment will be received via these modes:

  • By payable check to the applicant
  • Credits to claimants’ payroll account or cash-card
  • Similar other payment modes (remember our official board must approve these).

What to do to withdraw contributions as OFW abroad Employer?

Suppose you’re abroad (also eligible for it) and interested in withdrawing or claim for your payment. Let’s submit your withdrawal letter via the virtual portal of PAG IBIG. Though, you must acquire the OFWs account on your registered number. Then follow these steps:

  • Create your OFW virtual account
  • Choose your required OFWs account creation option
  • Enter your MID code, Philippines registered contact, birth date, and name.
  • Put your OTP access that you may get by SMS on your number.
  • Enter this information; email address – birthplace – mother’s maiden name – assignment country – three security questions.
  • After that, two valid IDs or upload your valid picture (when exhibiting your passport).
  • Now your OFW’s virtual account is ready. You can apply for your contribution withdrawals. You can also contact our authorized representative at the PAG branch and then ask if anything else is required. 

FAQs

Can I withdraw PAG contributions after completing ten years of membership?

PAG IBIG contributors are able to withdraw their contributions on the completion of 15 years of membership. After this active membership period, you can withdraw. So, after ten years, you’re unable to withdraw. It’s an official rule regarding this perception; Circular No. 440 was established last December 2020. Although, for some genuine reasons, you’re capable of acquiring your contribution.

How much time is required to withdraw PAG contributions?

Officially the withdrawal process takes 18 to 20 business days. Your withdrawal process is initiated just after your application. 

May I be eligible to apply for withdrawal with contribution gaps in my payment?

Yes, once your active membership reaches 20 years with 240 monthly contributions. You are capable of withdrawing your contributions, although with gaps in your entire paments contribution. 

Conclusion

PAG IBIG brings picture-perfect offers, including the yearly released TAV of members. However, you may also know your loan status and withdraw your payments. Here we’ve elaborated the whole procedure of withdrawing contributions. You’re proficient in knowing the accurate eligibility, requirements, and process of withdrawing the PAG loan funding. 

Author

  • Marina Aguilar is a freelance writer and editor with a passion for personal finance and real estate. She has been writing about finance and housing for over five years and has worked with various clients, including banks, financial institutions, and real estate developers. Marina believes that everyone deserves access to affordable housing and is committed to helping Filipino workers achieve their dream of homeownership through the Pag-IBIG Fund's housing loan program. In her free time, Marina enjoys hiking, reading, and spending time with her family.

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