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UAE Company Helps Filipino Employees Save Through Pag-IBIG Fund
A company in the UAE that employs a large number of Filipinos has expressed its cooperation in taking charge of deducting from their salaries their monthly membership contributions to Manila’s Home Development Mutual Fund or Pag-IBIG Fund.
Streamlining for the seamless remittance of the contributions is currently being worked on, disclosed Pag-IBIG Fund-Dubai and the Northern Emirates representative Juanito Jareno Jr. to The Gulf Today.
The company’s decision to do its share in securing their Filipino employees’ monthly contributions is “a first in the world,” a consequence of a 2010 orientation the management had in Dubai.
The management was “impressed” when they learnt that the monthly membership contributions are meant for savings with the primary benefit of a housing loan.
This led to discussions between the management and Pag-IBIG Fund officials in the past two years, which included legal impediments, said Jareno.
With this development, he expressed hope this would start the ball rolling for other Filipino overseas employers to do the same.
Jareno claimed this form of corporate social responsibility to the employees is an “assurance” that the monthly contributions of the overseas Filipino workers (OFWs) to Pag-IBIG Fund are “safe and secured.”
In the Philippines, the Pag-IBIG Fund’s monthly contribution is among several items automatically deducted from the employees’ salaries.
“Our fellow OFWs, whose membership to Pag-IBIG has become mandatory for the past two years, will no longer worry about how they would remit their monthly contributions,” said Jareno.