[ Memorandum Circular No. 1187, April 29, 1980 ]
SUBJECT: Implementing Rules and Regulations Concerning Letter of Instruction No. 937
The undersigned, in order to implement LOI No. 937, do hereby issue the following instructions and directions:
1. For the purpose of disseminating information on all aspects of the Pag-I.B.I.G. housing program, particularly the rights of members and the procedural requirements for their enrollment, the National Home Mortgage Finance Corporation shall conduct one-day Seminar-Workshops on the Pag-I.B.I.G. Fund to be attended by the Personnel Director, Budget Officer and Chief Accountant, or their equivalent counterparts, of all government offices and entities starting March 27, 1980. The NHMFC shall immediately circularize the details concerning such seminar-workshops and specific dates for the attendance of the officers of each government office or entity concerned.
2. Beginning March 28 through April 29, the various government offices and entities shall permit marketing teams, fielded by the National Home Mortgage Finance Corporation, to inform the employees of such offices and entities of rights, privileges and obligations of those who wish to be members of the Pag-I.B.I.G. Fund. The National Home Mortgage Finance Corporation shall, in accordance with the offices and entities concerned, draw up a schedule of such visitations in such a manner as to reach the maximum number of people effectively.
3. The personnel officer of all government offices and entities concerned is hereby designated to act as Fund Coordinator for his respective office or entity, and he shall submit to the National Home Mortgage Finance Corporation not later than June 30, all the membership applications submitted by their respective employees who wish to join the Pag-I.B.I.G. Fund. As Fund Coordinator, he shall be responsible for the early accomplishment and transmittal of all required Pag-I.B.I.G forms collections and remittance of contributions and the proper compliance with all Pag-I.B.I.G. rules and regulations by the office or entity he represents.
4. From May 15 to 20, the National Home Mortgage Finance Corporation, with the cooperation of the Technology Resource Center, shall issue to each government office or entity concerned a remittance report containing the required information for the collection of the initial payment to the Pag-I.B.I.G. Fund.
5. On May 30 and at the end of every month thereafter, the government offices or entities concerned shall make the appropriate payroll deductions from the subscribing members for their contributions to the Pag-I.B.I.G. Fund. Such deductions from the employee members shall be remitted on or before June 10 and the 10th day of every month thereafter to the Philippine National Bank, the Development Bank of the Philippines, the Philippine Veterans Bank, and the Land Bank of the Philippines, or such other banks as may be subsequently designated by NHMFC.
6. The Ministry of the Budget shall be responsible for the employer counterpart contribution of the national government and upon notification by NHMFC, remit said contribution on a monthly basis.1aшphi1
7. For the purpose of unifying efforts towards generating employee awareness of the importance of the Pag-I.B.I.G. housing program and the benefits that may be derived therefrom, May 1 to May 7 is hereby declared Pag-I.B.I.G. Week, during which time the various government offices and entities are encouraged to coordinate with the National Home Mortgage Finance Corporation in conducting activities that would bring the Pag-I.B.I.G. program to the attention of their employees.
8. The government offices and entities shall include in their 1981 and subsequent years budgets, the proper appropriations for the government counterpart contribution for Pag-I.B.I.G. Government-owned and controlled corporations and local government units shall make such budgetary provisions consistent with their respective financial capabilities.
This Memorandum Circular shall take effect immediately.
