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Insights Social Security contribution rates increased for Pag-IBIG

Social Security contribution rates increased for Pag-IBIG

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Pag-IBIG Fund’s new monthly rates were already approved by its Board of Trustees in 2019, but due to the difficulties during the COVID-19 pandemic in 2021 and 2022, the Pag-IBIG Fund Board deferred the increase of the agency’s savings rates. 
    
Starting February 2024, Pag-IBIG Fund members will enjoy doubled savings since the monthly savings rate will be increased from P100 to P200. 
    
The increase in the monthly savings rate came following the adjustment in the maximum monthly compensation to be used in computing the required two percent both for employee savings and employer share, which will now increase to P10,000 from the current P5,000.  

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