Public Info

Investing in PAG-IBIG Savings Program | The Modified Pag-IBIG MP2

July 24, 2017 By proudbrown

Saving your money in commercial banks allows you to earn some from the compounded interests. But, it also involves 20% tax. In spite of the current inflation rate, it is also expected that your money will eventually depreciates

The good news is that PAG-IBIG offers several savings programs that carry higher interest rates. Some of the programs offered by this organization include salary and home loan, multipurpose loan, and calamity loan.

To provide better services to their clients, PAG-IBIG started to offer the Modified PAG-IBIG MP2 savings program that offers higher dividend rate of 5.44% per annum. PAG-IBIG members who were members of the PAG-IBIG 1 can apply for membership in MP2.

These two are different programs since the PAG-IBIG 1 is mandated by the government for employed individuals. The minimum monthly contribution is Php200 shared by both the employee and employer. To avail the MP2, you need to ensure that you’re updated in paying the PAG-IBIG 1 contributions.

On the contrary, the MP2 carries higher interest rates as compared to commercial banks and even with time deposit accounts. This is a profitable way to expand your investment portfolio and ensure that your money will grow and generate more income.

Advantage of upgrading to PAG-IBIG MP2 savings programs

The advantage of signing up to MP2 savings program is that your loanable amount will also increase. Aside from the higher dividend, it is also tax-free. Likewise, you can ensure that your investment is secured by the government.

How Much Does It Cost of Being Grab Partner

July 21, 2017 By proudbrown

Ride-sharing services are becoming popular in the Philippines and this is the reason why the government has been developing regulations for this app-based transportation services. Many commuters were enjoying the benefits of Grab and Uber.

For riders, using these transport services is more convenient and safer. It’s because before a commuter chooses a Grab and Uber service, he or she will know the plate number of the car and the picture of the driver. Another advantage of these ride-sharing services is that you will know the car’s GPS position.

The potential earnings in Grab and Uber can exceed the monthly salary of an ordinary employee. But, there are expenses involved such as toll fares, fuel expenses and salary of the driver in case you hire one.

Here are some factors to consider if you’re thinking to be a Grab or Uber driver or operator:

Carwash

The operator of Uber or Grab ensures that the vehicle is in good condition so that they can provide high quality service. To keep the vehicle clean, an operator spends about Php400 for monthly carwash expenses. But, if you have time you can do the car washing yourself to save the cost.

Food

If you hire a driver, you need to provide daily food allowance. This is important to ensure that your driver has the energy needed for the day. The food allowance may cost you a minimum of Php100 a day and Php 2,400 a month.

Salary

The salary for the driver depends on the agreement between the operator and driver. Before you decide to hire a driver you should think about your driver’s compensation.

Internet

If you will operate an Uber or Grab vehicle, you’ll need Internet access because the service is entirely app-based. It is important to ensure that the data connection or Internet are strong and stable to avoid losing potential customers. For the Internet, you need to budget around Php 600 to Php1,000 per month.

You can also opt for a Pocket wi-fi that is faster than mobile data, but it will also add to your expenses.

Maintenance

To guarantee that your vehicle will run efficiently, regular maintenance should be provided. Make sure that the vehicle is running smoothly and the air-conditioning unit is highly operational. Let a mechanic check your vehicle every month including the tires, oil and light. The monthly maintenance will cost you approximately Php1,200 a month.

Considering all the expenses, see to it that you earn profit after deducting all the expenses. Operating an Uber or Grab is a good source of income as long as you’re earning a profit.

Understanding About PAG-IBIG Fund Provident Savings and How to Claim it

July 19, 2017 By proudbrown

PAG-IBIG Fund offers various programs and benefits to its members. Basically, there are three programs/benefits that every qualified member should know such as short-term loan, housing loan and provident savings. In this post, we will discuss about provident savings that most people don’t know.

What is Provident Savings

As you became a member of PAG-IBIG Fund, you are required to pay your contributions. The contributions work like a time deposit account. It earns interest that is also withdrawable. Thus, if you avail provident savings, this means that you’re preparing for your future.

Every employer is required to pay the monthly contribution of his or her employees and it is mandated by the law. The PAG-IBIG Fund is responsible in keeping the savings of its members and use the money for various investments such as financing mortgage loans and real estate development projects. This is how your contributions grow and earn.

The Provident Savings is the Total Accumulated Value that a member can claim in the future. The TAV is the total contributions and the dividend earned by your money.

How to Claim your Savings?

Applying for your provident savings involves following set of guidelines that sometimes can be irritating. Likewise, you should know whether you are qualified or not to apply for claims. Here are some pointers to consider:

Membership maturity

Any regular member of the organization can apply for claims only upon maturity of the membership. The member should have made 240 monthly contributions or within 20 years. For OFW PAG-IBIG members, the maturity of membership is from 5 years to 20 years. If they plan to apply for the provident claim, they should bring their POP Passbook.

Retirement

The retirement age is from 45 years old to 65 years old. The member should secure the important documents including the following:

Notarized certificate of early retirement
Two valid IDs or GSIS/SSS retirement voucher
For Philippine Navy and AFP, an Order of Retirement, Statement of Last Payment, and Updated Statement of Service should be provided

Separation from the service because of health reasons

The applicant should bring Physician’s certificate and notarized sworn employer’s certification. For private employee, a latest SSS disability voucher is required.

Permanent disability or Insanity

In this case, the applicant should bring the important documents such as:

Physician’s certificate of insanity
SSS total disability voucher
For Philippine Navy and AFP, a Statement of Last Payment, Updated Statement of Service, and Compulsory Disability Discharge Order should be provided

Basic requirements

Before you visit any PAG-IBIG Fund branch near you, make sure to secure and have on hand the following important documents like:

Completed application form or the APB form
Two valid IDs
Updated service record
Special power of attorney

How to Avail the OFW ID Card or iDOLE

July 18, 2017 By proudbrown

The OFW ID is one of the key programs of the Duterte administration that was launched recently. According to Silvestre Bello III, Labor Secretary, the OFW ID will be granted to all bonafide OFW for free and it will serve as OEC or overseas employment certificate of every OFW.

If you’re one of the millions OFW, you should know the procedures on how to avail the said OFW ID.

Step 1.

The first thing to do is to retrieve your current OEC number as you’ll need it when applying for the OFW ID. If you possess a receipt-only OEC, you can use the receipt number as your OEC number.

Step 2.

Visit the iDOLE services website.

Step 3.

Click the CREATE A NEW ACCOUNT box and choose the appropriate identification that you want to submit. If you choose the OEC number, you’ll be required to fill out the needed details.

Step 4.

Once you successfully register your account, you will receive an activation link directed to the email that you provided. Open your email and activate the link. You can also find the activation link in the SPAM folder.

Step 5.

Continue the registration process using your bmonline registration. Choose the SELECT TRANSACTION option.

Step 6.

The next step is to select the OFW Card Application box. You are given two options on how you’ll receive the OFW ID. You can select either PICK UP or DELIVERED to your home address. If you choose PICK UP, you will be charged Php501 for the card. (This is contrary to what Secretary Bello have said). On the contrary, if you select DELIVERY option, an additional Php200 for Philpost will be added to the card fee.

Step 7.

There are several payment options to choose from including bank payment, online payment, mobile payment, Bayad Center, Multipay Wallet, 7-Eleven outlets, ECpay, Bancnet, and Credit/Debit card. However, International credit or debit cards are not accepted. Thus, OFWs should coordinate with their families in the Philippines to make the payment or use Philippine bank accounts.

Step 8.

You will receive a confirmation of your payment through your email.

However, OFWs who want to avail the OFW ID were facing difficulty due to insufficient detailed guidelines. Likewise, many OFWs were hesitant to avail the OFW ID after knowing that there will be fees collected.

Useful TESDA Courses That Gives Rewarding Income

July 4, 2017 By proudbrown

TESDA is a Philippine government agency that aims to help Filipinos to learn new skills and earn diploma without spending years in college. This agency offers a wide range of courses that you can take in their accredited schools and centers and even at the comfort of your home.

The advantage of taking TESDA courses is that you can use them to start your own business after you have passed the assessment test and obtain the diploma or certification.

To give you ease in choosing the right TESDA course that can help to jumpstart your career or improve your life, read on this post.

Top courses offered by TESDA

Computer systems servicing

Most people and households have computers, but only few of them are knowledgeable about troubleshooting the computer system. With this, enrolling a short course about computer system servicing is a good start if you want to earn money in the future. You can use your TESDA certification to provide your service.

Heating, ventilation and air condition

This is one of the most sought courses because it promises rewarding income after finishing the course. Air conditioning units requires regular maintenance and having HVAC certificate can give you the opportunity to earn an income.

Microsoft online courses

This course offered by TESDA has been opening great opportunities to people who are computer savvy. Microsoft online courses include website development and game development. Providing such services promises big money especially if you’ll work with big companies or create a new viral game.

Food and beverage servicing

Many fast food chains and restaurants are hiring people having TESDA certificate in food and beverage servicing. You can easily land a job in the food industry once you complete this course.

Massage therapy

Massage gives a relaxing effect after a whole tiresome day working. Learning massage therapy won’t only help people to alleviate their stress, but also help you earn a decent income.

Cellphone servicing

Large percentage of Filipinos have cellphones. But, cellphones were not designed to last longer. Most likely, it will show some problems that may affect its functions. If you have knowledge and skills in cellphone servicing, you can use it to start a business.

The opportunities offered by TESDA are unlimited and all you have to do is to choose the one in which you believe you can excel. There’s nothing to worry about the expenses during the training because the agency does not require any fee. It is all free, but some courses require minimal assessment fee.