President Ferdinand R. Marcos Jr. praised the Pag-IBIG Fund for its remarkable achievement in declaring a historic P48.76 billion in dividends for its members for the year 2023. This landmark figure, the highest in the agency’s 43-year history, reflects the dividends earned on members’ savings, showcasing the fund’s robust performance and commitment to serving its members.
In 2023, Pag-IBIG Fund members enjoyed record-high annual dividend rates of 6.55 percent for Regular Savings and 7.05 percent for Modified Pag-IBIG 2 (MP2) Savings. These rates, the highest since the pandemic, were highlighted during the Pag-IBIG Fund Chairman’s Report, where the President addressed the agency members, partners, and stakeholders at the PICC Reception Hall in Pasay City.
The President lauded the fund’s efforts as a “labor of love,” acknowledging the strides made in a year he described as a banner year for Pag-IBIG. He emphasized the ongoing challenge of addressing the country’s significant housing backlog and the collective goal of converting statistical achievements into tangible homes for Filipinos.
Pag-IBIG Fund’s 2023 performance was nothing short of stellar, with a net income of P49.79 billion, marking a 12% increase from the previous year. The agency achieved several record highs, including P126.04 billion in home loans, aiding 96,848 members in acquiring new or improved homes. Additionally, total membership savings collected reached P89.26 billion, and cash loan releases hit P59.32 billion, benefiting over 2.65 million members. The year concluded with Pag-IBIG Fund’s assets at an all-time high of P925.61 billion.
Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development (DHSUD) and head of the Pag-IBIG Fund Board of Trustees attributed these record dividend rates to the agency’s unprecedented net income and a record-high 97.86 percent payout ratio approved by the board. This decision surpassed the statutory requirement to return at least 70 percent of its annual net income as dividends, further benefiting members with a record dividend amount.
The achievements of 2023 have solidified Pag-IBIG Fund’s position as a cornerstone of the Philippine housing sector and a crucial partner for Filipino workers and the government’s nation-building efforts. With its robust fiscal health and strategic policies, Pag-IBIG Fund is poised to continue leading in financing quality and affordable housing projects under the Pambansang Pabahay para sa Pilipino Program, ensuring its members have access to better living conditions and contributing to the development of a “Bagong Pilipinas.”