Are you aware of the changes in Pag-IBIG Contribution rates for 2024? Do you know how these changes will affect your savings? Stay informed and maximize your financial growth by understanding the updated system. In this article, we will explore the new rates and guidelines for Pag-IBIG contributions in 2024, providing you with a comprehensive understanding of the changes and their implications.

Key Takeaways:

  • Stay informed about the updated Pag-IBIG Contribution rates for 2024.
  • Understand the impact of increased maximum fund salary on your savings.
  • Learn how to compute your Pag-IBIG contributions accurately.
  • Discover the latest contribution rates for different employment types.
  • Utilize the Pag-IBIG contribution table for easy calculations.

Understanding the Pag-IBIG Fund and Its Purpose

Before diving into the details of the contribution rates for 2024, it's essential to have a clear understanding of the Pag-IBIG Fund and its purpose. The Pag-IBIG Fund, also known as the Home Development Mutual Fund (HDMF), is a government agency in the Philippines that aims to provide affordable housing and financial assistance to Filipino workers.

The main objective of the Pag-IBIG Fund is to help Filipino workers realize their dream of owning a home. They achieve this by implementing various programs and initiatives that make homeownership more accessible and affordable. Additionally, the Pag-IBIG Fund provides financial assistance for other purposes such as home improvement, construction, and even calamity or multi-purpose loans.

By contributing to the Pag-IBIG Fund, individuals contribute to a collective pool of funds that enable the agency to provide these valuable services and benefits. The contributions made by both employees and employers are crucial in sustaining the programs and ensuring that more Filipino workers can avail themselves of the opportunities offered by the Pag-IBIG Fund.

Changes in the Pag-IBIG Contribution Rates for 2024

The contribution rates for Pag-IBIG in 2024 have recently been updated, affecting both employees and employers. These changes have implications for individuals and organizations participating in the Pag-IBIG Fund. Let's take a closer look at the new contribution rates and the impact of the increased maximum fund salary.

New Contribution Rates for Employees and Employers

The new contribution rates for employees and employers have been implemented to ensure the sustainability and growth of the Pag-IBIG Fund. Employees' contributions are based on their monthly fund salary, while employers are required to remit a certain percentage as their counterpart contribution. 

The Impact of Increased Maximum Fund Salary

One significant change in the Pag-IBIG contribution rates for 2024 is the increased maximum fund salary. The maximum fund salary serves as the basis for calculating the contributions of both employees and employers. With the higher maximum fund salary, individuals can save more for their future and enjoy greater benefits from the Pag-IBIG Fund. Employers, on the other hand, will need to adjust their contributions accordingly to comply with the updated guidelines.

Salary Range
Employee Contribution
Employer (if any)
PHP 1,500 and below
Over PHP 1,500

2024 Pag-IBIG Contribution: Detailed Breakdown

To fully understand the Pag-IBIG contribution system for 2024, it is important to have a detailed breakdown of how contributions are calculated. This section will provide a step-by-step explanation of how individual contributions are determined and how employer counterparts are computed. 

  1. Step 1: Calculate Monthly Fund Salary
  2. To determine the monthly fund salary, add all regular and fixed compensation components, including basic salary, allowances, and other cash benefits.
  3. Step 2: Use the Contribution Table
  4. Refer to the Pag-IBIG contribution table for 2024 to find the employee's contribution rate corresponding to the monthly fund salary. The contribution rate is expressed as a percentage.
  5. Step 3: Calculate Employee Contribution
  6. Multiply the monthly fund salary by the employee's contribution rate to determine the employee's monthly contribution to Pag-IBIG.
  7. Step 4: Compute Employer Counterpart
  8. The employer's counterpart contribution is a fixed percentage of the employee's monthly contribution. Refer to the Pag-IBIG contribution table for the specific employer counterpart rate.
  9. Step 5: Total Monthly Contribution
  10. Add the employee's monthly contribution and the employer's counterpart contribution to get the total monthly contribution to be remitted to Pag-IBIG.

Note: The contribution breakdown may vary for different employment types. Please take a look at the specific contribution guidelines for regular employed workers, kasambahay, and seafarers for detailed information.

Monthly Fund Salary Range
Employee Contribution Rate
Employer Counterpart Rate
Below ₱1,500
Over ₱1,500
₱5,000 & above

By following this detailed breakdown, individuals can accurately compute their contributions to Pag-IBIG for 2024 and fulfill their obligations towards the fund.

How to Compute Pag-IBIG Contribution 2024

Accurately calculating your Pag-IBIG contributions for 2024 is essential for both individuals and employers. To help you with this process, follow the step-by-step guide below:

Calculating Employee Contributions

1. Determine your monthly fund salary: The Pag-IBIG contribution is based on your monthly fund salary, which includes basic salary, overtime pay, holiday pay, and other taxable compensation.

2. Identify your salary range: Refer to the Pag-IBIG contribution table to determine which salary range you fall under.

3. Compute the employee contribution: The employee contribution is a fixed percentage of your monthly fund salary based on the corresponding salary range. Multiply your monthly fund salary by the contribution rate for your salary range to determine your employee contribution.

4. Round off the contribution amount: Round off your computed contribution amount to the nearest peso. For example, if your computed contribution is PHP 262.80, round it off to PHP 263.00.

Determining Employer Counterparts

1. Identify the contribution rate: The employer counterpart contribution rate is a fixed percentage of the monthly fund salary, based on the employee's salary range.

2. Compute the employer counterpart: Multiply the employee's monthly fund salary by the employer counterpart contribution rate to determine the employer counterpart amount.

3. Round off the counterpart amount: Round off the computed counterpart amount to the nearest peso. For example, if the computed counterpart is PHP 131.40, round it off to PHP 131.00.

Latest Pag-IBIG Contribution Rates 2024 for Various Employment Types

Specific Rates for Kasambahay and Seafarers

For kasambahay (household workers), the Pag-IBIG contribution rates in 2024 are slightly different. Kasambahay with a monthly compensation of PHP 5,000 and below have a fixed contribution rate of PHP 100. Those with a monthly compensation above PHP 5,000 follow the regular employed workers' contribution rates as shown in the table above.

Monthly Compensation
Employee Contribution Rate
Employer Contribution Rate
PHP 1,500 and below
Over PHP 1,500 

Mandatory and Voluntary Coverage Explained

The Pag-IBIG Fund provides coverage for individuals through both mandatory and voluntary membership options. Understanding the criteria for mandatory membership and the available options for voluntary membership and contributions is essential for individuals looking to maximize their benefits and savings.

Criteria for Mandatory Pag-IBIG Membership

Mandatory membership in the Pag-IBIG Fund is determined by specific criteria set by the government. The following individuals are required to contribute to the fund:

  • Employees covered by the Social Security System (SSS) and the Government Service Insurance System (GSIS)
  • Self-employed individuals such as professionals, freelancers, and entrepreneurs
  • Overseas Filipino workers (OFWs) who are not members of the SSS or GSIS

These individuals are mandated to contribute a portion of their income to the Pag-IBIG Fund, which will be used to accumulate savings and provide them with access to various benefits and housing programs.

Options for Voluntary Membership and Contributions

For individuals who do not fall within the criteria for mandatory membership, there are voluntary membership options available. Voluntary membership allows individuals to participate in the Pag-IBIG Fund and enjoy the benefits offered.

Under voluntary membership, individuals have the flexibility to choose their contribution amount based on their financial capacity. Contributions can be made on a monthly or lump-sum basis. However, it is important to note that voluntary members may have restrictions on accessing certain benefits, such as formal housing programs.


In conclusion, staying informed about the Pag-IBIG Contribution 2024 rates and guidelines is crucial for individuals and employers. 

Being aware of the new contribution rates and guidelines ensures that individuals can plan their finances accordingly and make informed decisions regarding their savings. 

For employers, understanding the changes in the contribution rates and guidelines is essential to ensure compliance with the Pag-IBIG Fund requirements. By remitting the correct counterpart contributions and fulfilling their obligations, employers contribute to the overall growth and stability of the fund, ultimately benefiting both their employees and the organization.


What is the Pag-IBIG Fund?

The Pag-IBIG Fund, also known as the Home Development Mutual Fund (HDMF), is a government agency in the Philippines that provides affordable housing and financial assistance to Filipino workers.

What are the changes in the Pag-IBIG contribution rates for 2024?

The Pag-IBIG contribution rates for 2024 have been updated for both employees and employers.

How does the maximum fund salary increase affect contributions?

The increase in the maximum fund salary has implications for the computation of employee and employer contributions.

How are Pag-IBIG contributions calculated?

Pag-IBIG contributions are calculated based on the employee's monthly fund salary, and employers are required to remit a certain percentage as their counterpart contribution.

How can I compute my Pag-IBIG contributions for 2024?

You can compute your Pag-IBIG contributions for 2024 by following a step-by-step guide that explains how to calculate employee contributions and determine employer counterparts.

Is there a contribution table available for Pag-IBIG contributions?

Yes, there is a contribution table that outlines different monthly fund salaries and the corresponding employee and employer contributions.

Who is required to have mandatory Pag-IBIG membership?

Mandatory Pag-IBIG membership is required for individuals who meet certain criteria, which will be explained in detail. Others have the option for voluntary membership and contributions.

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