TWO mandated mandatory contributions are set to increase this year.

According to the Home Mutual Development Fund or PAG-IBIG Fund they are simply awaiting the approval of Malacañang to conduct the increase in monthly contributions from their members.

Pag-IBIG is looking to increase the mandatory contributions from P100 to P200. 

The government owned and controlled corporation (GOCC) explained that under the new increase, it would bring P38 billion to the fund.

This paves the way for an additional P1 Million in housing loans without increasing interest rates.

The Employers Confederation of the Philippines (ECOP) said that they are supportive of the increase, saying it is an “investment”.

“’Yan ay investment, parang forced savings yan. Kumikita pa ng interes, so hindi mabigat para sa amin yan para sa mga worker namin. Kaya very readily pumayag kami,” said ECOP President Sergio Ortiz-Luis Jr.

Philhealth likewise said that they are looking at a 5% increase in mandatory contributions for the year.

Presently, they are still awaiting approval from the Malacañang.

They said that the additional contributions will allow more health benefits for the members.

“Una, meron tayong benefit package para sa magpapagamot ng tuberculosis using DOTS P4,000 yan. Yung mga nakagat ng stray animals meron tayong animal bite treatment package P3,000 yan at sa pasyente ng HIV-AIDS meron tayong outpatient treatment package at yan ay sa kabuuang P30,000 kada taon,” PhilHealth Acting Vice President for Corporate Affairs Rey Balena.