December 21, 2016 12:05 AM
By: Jennifer P. Rendon
THE GOOD news: the Home Development Mutual Fund (HDMF) or Pag-IBIG Fund is working hard to deliver faster services to its members.
However, before Pag-ibig could offer faster services, there is a minor setback.
On Dec. 19, 2016, the Pag-IBIG Fund Member Services Branch in Iloilo City advised members that processing of loans and provident claims applications may take longer than the standard processing time than their standard processing time.
Gina P. Lanceta, Pag-IBIG Fund Molo-Member Services Branch (MSB) head, explained that the fund will migrate to a new Provident Fund Management System and Short-Term Loans Management System on January 10, 2017.
“This aims to ensure accuracy in the recording of members’ transactions and to speed up the processing of provident benefit claims and loan applications,” Lanceta said.
Consequently, during the two-month transaction period January to February 2017, processing of loans and provident claims applications may take longer than the Pag-big’s standard processing time, Lanceta added.
The Provident Fund Management System is an ID-based records-keeping and capturing system, which is an enhanced system on the updating and maintenance of Pag-IBIG members’ contribution records.
Lanceta said they have already informed employers and heads of agencies about the migration.
Meanwhile, Lanceta said that they shall be requiring Pag-IBIG member ID (MID) for all transactions with the Fund effectively immediately.
By all transactions, these will include multi-purpose loan, calamity, provident claims applications, remittance of members, savings and loan amortizations.
Since 2012, Lanceta said they have reminding their members on the use of MID for all Pag-IBIG transactions.
To the employers, “to avoid inconvenience, please ensure that all your employees have secured their Pag-IBIG MID,” she said.
Otherwise, she advised on having members to register online at www.pagibigfund.gov.ph or proceed to the nearest Pag-IBIG office for employee-assisted registration.