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THE
Senate is expected to resume hearings on separate bills
filed by Sens. Miguel Zubiri and Antonio Trillanes aimed
at augmenting Pag-Ibig funds for socialized housing
shortly after Congress reconvenes regular sessions next
week.
In
Senate Bill 2262, Zubiri proposes to amend the charter
of the Home Development Mutual Fund (HDMF) to expand
membership in the Pag-Ibig fund to “include all
employees, regardless of monthly income or any waiver
from fund coverage previously issued to employers.”
Zubiri’s
bill also proposes to reinstate the fund’s tax-exempt
status to ensure that it would have more funds to
finance housing and short-term loans, as well as
investments in government securities.
He
insists that the board of trustees should be given full
authority to change the rate of contributions, subject
to the approval of the President. “The powers of the
board of trustees should also be expanded to enable the
board to effectively set the directions on how the fund
will be managed and administered,” he added.
On the
other hand, Senate Bill 2284 introduced by Sen.
Trillanes seeks to further strengthen the HDMF to better
serve the needs of its contributing members. At the same
time, SB 2284 proposes to exempt the Pag-Ibig Fund from
payment of corporate income tax to ensure that there are
more funds to pay for the members’ benefits.
It also
aims to declare universal coverage by mandatory
membership upon all employees covered by the Social
Security System and the Government Service Insurance
System, and their respective employers, including
members of the Armed Forces of the Philippines and the
National Police.
Trillanes’s bill likewise seeks to provide coverage for
Filipinos recruited by foreign-based employers for
employment abroad. “Coverage may be extended to other
working groups, with or without employer contribution,”
it added. |
