R.A. 9679 EXTENDS PAG-IBIG
COVERAGE TO LAWYERS

            The signing of R.A. 9679, or the Home Development Mutual Fund Law of 2009, extended mandatory coverage of self-practicing professional (including lawyers), artists, professionals, agents, brokers, vendors, agricultural workers and other earning individuals who are not under an employer-employee relationship, under the Fund, provided they are not over 60 years old and with an average monthly income of not less than P1,000.00.

            Under the law, benefits that members enjoy are 1) Tax-free earnings; 2) Loan benefits, such as housing, multi-purpose, and calamity loan programs; 3) Portability of savings – a member’s Total Accumulated Value (TAV), remains under his name, even if the member becomes employed; 4)Government guarantee; and 5) Contributions are excluded from the computation of the Gross Income pursuant to Section 32 (B)(7) of the National Internal Revenue Code of 1997.

            To activate one’s membership, an interested lawyer may proceed to any of the regional offices of Pag-ibig Fund.  For the location of these offices, visit www.pagibigfund.gov.ph.  In the same site will also be found the implementing rules of R.A. 9679.

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