MANILA (Sept. 26) -- The plan of the Home Development Mutual Fund (Pag-IBIG Fund) to double the mandatory monthly contributions of its 7.4-million members from P100 to P200 would cost workers an extra P8.9 billion, Catanduanes Rep. Joseph Santiago said today.
"This is what Pag-IBIG hopes to collect additionally from its existing members – P8.9 billion every year, or P740 million monthly. This is a lot of money that will be taken out of the pockets of our workers, and which they could better spend for basic necessities," Santiago said.
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