March 17, 2009 08:02 PM Tuesday [ journal.com.ph ]
By: Bernadette E. Tamayo
SENATOR Mar Roxas has sought a two-year moratorium on the mandatory contribution of all workers to the Pag-Ibig fund to alleviate the plight of its almost 7.3 million members affected by the global economic meltdown.
He filed Senate Bill No. 3127 seeking a two year freeze on the collection of the monthly Pag-Ibig fund contributions of workers both in the public and private sector, subject to exceptions such as those who would voluntarily want to be covered and those who have outstanding Pag-Ibig loans.
”At this time that household budgets are constrained, let’s give our consumers the choice to continue contributing to Pag-Ibig or to use their contributions to make ends meet,” Roxas said.
“Housing is important, but we also see how important it is to help our people cope with hunger. Let’s give them the power to choose,” he added.
Roxas said that while the mandatory monthly Pag-Ibig contribution serves the long-term goal of housing for all, “every peso counts when it comes to each family’s survival.”
Pag-Ibig fund contributions are mandatory in character. It was established through Presidential Decree No. 1752, or the Home Development Mutual Fund Law of 1980 and intended to motivate workers to better plan and provide for their housing needs.
______________________________________________________________________________________
