A memorandum of agreement was signed recently by Governor Eugenio Jose Lacson and Pag-IBIG Fund Western Visayas acting head, Atty. Stanley Alayon, for the membership coverage of job order (JO) and contract of service (COS) employees of the provincial government of Negros Occidental.
As stipulated in the MOA signed Feb. 23, the maximum fund salary to be used in computing the membership savings of JO and COS personnel shall be capped at P10,000. This amount will serve as basis in determining the monthly contributions of both the employee and the employer, in accordance with Pag-IBIG guidelines.
JO and COS workers may voluntarily elect to have their monthly Pag-IBIG membership savings automatically deducted from their payroll through salary deduction by signing the Authority to Deduct Form, the Capitol said in a press release.
Through this partnership, JO and COS employees will become active Pag-IBIG members, allowing them to build savings and qualify for housing loans and other short-term loan programs offered by the Fund.
In addition, the agreement provides JO and COS workers with the option to authorize automatic payroll deductions of their monthly Pag-IBIG contributions. By signing the Authority to Deduct Form, employees may opt for a convenient and systematic remittance process, ensuring consistent savings and uninterrupted membership status. ||
