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Home / Tolley's Global Mobility: Employment Taxes (Worldwide excluding Europe) /Philippines /2. Mechanics of payroll /2.2 Withholding of social security / 2.2.3 Pag-IBIG fund
Commentary

2.2.3 Pag-IBIG fund


Philippines

The Pag-IBIG Fund is home development mutual fund governed by the Republic Act No 9679, and its Implementing rules.

Participation is mandatory for employees and their employers who are subject to mandatory SSS coverage (see 2.2.1). Both the employee and the employer contribute to the fund (Republic Act No 9679, s 6).

The fund establishes:

  1. Ìý

    •ÌýÌýÌýÌý a national savings program, and

  2. Ìý

    •ÌýÌýÌýÌý an affordable house financing system

Fund members benefit from:

  1. Ìý

    •ÌýÌýÌýÌý savings

  2. Ìý

    •ÌýÌýÌýÌý short-term loans

  3. Ìý

    •ÌýÌýÌýÌý access to low-cost housing programs

Contribution rates are:

Remitting frequency, periods and due dates by remitter type
Employee gross incomeEmployee contributionEmployer contributionSubject

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