Pag IBIG Increase 2024: Contribution Limit, Eligibility & Impacts!

Pag-IBIG Fund has announced that it will increase its member contributions starting February 2024. The monthly contributions from employees and employers will be increased to P200, from the minimum of P100. 

Pag IBIG Increase 2024

Pag-IBIG Fund, also known as the Home Development Mutual Fund, has announced that it will increase its member contributions starting February 2024. 

Pag-IBIG the monthly contributions from employees and employers will be increased to P200, from the minimum P100. The increase in contributions was deferred from 2021, 2022, and 2023 to 2024 due to the lingering effects of the COVID-19 pandemic. 

The increase in contributions will allow Pag-IBIG to continue providing affordable home loans to its members in the future. 

What are the eligibility criteria for a pag-ibig increase?

The eligibility criteria for a Pag-IBIG increase in 2024 are as follows:

  • Active Pag-IBIG membership: Members must be actively contributing to the Pag-IBIG Fund to be eligible for an increase in their monthly contributions.
  • Compliance with the new contribution rates: Members must comply with the new contribution rates, which will be increased to P200 per month for both employees and employers.
  • No outstanding loans: Members should not have any outstanding loans with Pag-IBIG
  • No default in payments: Members should not have any default in their Pag-IBIG contributions or loans.
  • No change in membership status: Members should not have changed their membership status, such as from employed to self-employed.

Pag-IBIG Contribution Increase 2024

The increase in Pag IBIG 2024 is:

Pag IBIG Increase 2024

Member Contributions:

  • Doubled from P100 to P200 per month,a 100% increase. This means you’ll be contributing an additional P100 each month.
  • The new minimum monthly contribution for employed Pag-IBIG members is now P200.
  • This change applies to all Pag-IBIG I members under both mandatory and voluntary coverage.

Employer Matching:

  • Employers continue to contribute a matching P200 per month, bringing the total monthly savings to P400 per member.
  • This means your employer will also contribute an additional P100 each month, matching your increased contribution.
  • This benefit remains the same, providing a valuable addition to your overall savings.

Mandated Monthly Fund Salary (MFS):

  • Increased from P5,000 to P10,000.This is the baseline salary used for calculating contributions.
  • This change doesn’t directly affect your monthly contribution amount, but it may impact your loanable amount for housing loans and other benefits.
  • Pag-IBIG will use the higher MFS to compute your loanable amount, potentially allowing you to borrow more funds for housing in the future.

Rationale for the 2024 Pag-IBIG Contribution Increase

According to Pag-IBIG officials, the hike aims to:

Enhanced Member Benefits:

  • Increased savings lead to higher loanable amounts for housing, allowing members to borrow more for their dream homes.
  • Larger calamity assistance provides stronger financial support during emergencies.
  • Boosted retirement payouts ensure a more secure future.

Sustain Program Development:

  • Additional funds fuel Pag-IBIG’s initiatives in affordable housing, making homeownership more accessible for Filipinos.
  • Investments in infrastructure development improve the overall quality of life and economic opportunities.
  • The increase strengthens financial inclusion programs, bringing more Filipinos into the formal financial system.

Maintain Low-Interest Rates:

  • Higher contributions help Pag-IBIG offer and maintain competitive interest rates on housing loans, making buying a home more affordable.
  • This benefits Filipino homebuyers, particularly those with limited budgets.

Expected Impacts of the 2024 Pag-IBIG Contribution Increase:

While the long-term benefits are promising, the immediate impact on members, particularly low-wage earners, is a critical concern. Potential consequences include:


  • Higher loanable amounts: Increased savings could lead to larger mortgages for those seeking to buy homes.
  • Stronger calamity assistance: Larger calamity funds could provide greater financial support during emergencies.
  • Boosted retirement payouts: Higher contributions could translate to bigger retirement benefits for members.


  • Reduced take-home pay: The contribution increase may impact monthly salaries, requiring adjustments in financial planning, especially for low-wage earners.
  • Exacerbated housing affordability:The higher contributions could make housing even less affordable in high-cost areas, potentially hindering homeownership aspirations.
  • Need for transparency: Members deserve clear communication on how the additional funds will be used and what specific improvements they can expect in terms of benefits.

Pag-IBIG is Helping You Adjust to the Contribution Increase

Explaining the Increase:

  • They’ll be holding talks and workshops to answer your questions and explain why the contribution went up.
  • Look for posters and flyers with clear information at your workplace and Pag-IBIG branches.

Helping You Manage Your Money:

  • They’ll offer budgets and financial planning tools to help you adjust to the higher contributions.
  • They’ll have experts available to answer your questions and offer advice on managing your finances.

Making the Increase Work for You:

  • They’ll be monitoring the impact of the increase and making changes to their programs if needed.
  • This might mean adjusting loan terms or offering new benefits to make the increase more affordable and beneficial for everyone.

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