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Pag-IBIG Fund Circular No. 460 sets out a higher Maximum Fund Salary (MFS) and membership-savings guidance effective February 2024. Its reproduced contribution table sets the employee rate at 1% for fund salaries of PHP 1,500 and below, and 2% for fund salaries over PHP 1,500; the employer share is 2% in both bands where an employer applies. The circular states that it covers Pag-IBIG I members under mandatory and voluntary coverage from February 2024 onward.
What is Pag-IBIG Circular No. 460?
Pag-IBIG Fund Circular No. 460 is titled “Guidelines on the Pag-IBIG Fund’s Implementation of Increase in the Maximum Fund Salary (MFS) Effective February 2024.” The UP Law Center National Administrative Register (NARO) record lists it as issued on January 15, 2024, filed on January 24, 2024, and registered as 24-0098. View the NARO record and its filed-copy link.
NARO describes the linked document as an electronic copy filed with the Office of the National Administrative Register (ONAR). The catalog supports discovery but is not a substitute for an official certified copy; the UP Law Center can provide certified copies for official legal use.
What contribution rates does the circular show?
The circular’s reproduced table uses fund salary to determine the employee rate. It lists the employer share as 2% in each band where an employer applies.
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| Fund salary | Employee rate | Employer rate, if applicable |
|---|---|---|
| PHP 1,500 and below | 1% | 2% |
| Over PHP 1,500 | 2% | 2% |
The table reflects the guidance reproduced from Circular No. 460, effective February 2024. Its threshold is based on fund salary, not a stated take-home-pay figure. The material available here does not establish additional details such as definitions, exceptions, or remittance mechanics; consult the filed circular for those provisions before making payroll decisions.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Who is covered and when did the guidance take effect?
The reproduced circular text states that the guidance covers Pag-IBIG I members under both mandatory and voluntary coverage from February 2024 onward. The effective date in the circular title is February 2024; the material cited here does not specify a particular day within that month.
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- 2024 Updates: The Pipeline and Hazardous Materials Safety Administration (PHMSA) released a comprehensive summary of updates. Most significantly a QR code on the back cover that provides access to critical incident reporting information.
- Other changes for 2024 have been made to continue to provide the most accurate emergency response information to help all front-line persons and all first responders stay safe during transportation emergencies.
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- 2024 Updates: The Pipeline and Hazardous Materials Safety Administration (PHMSA) released a comprehensive summary of updates. Most significantly a QR code on the back cover that provides access to critical incident reporting information.
- Other changes for 2024 have been made to continue to provide the most accurate emergency response information to help all front-line persons and all first responders stay safe during transportation emergencies.
- Specifications: 4" x 5 1/2" Pocketbook Size, English, Softbound. Copyright 2024. Comes with a pack of 10 pocketbooks.
How to verify the rule before applying it
- Check the filed text. Use the NARO issuance record to open the electronic copy filed with ONAR. For legal use requiring an official certified copy, request one from the UP Law Center.
- Confirm there has been no later change. The available record and reproductions establish Circular No. 460’s identity and its stated 2024 guidance, but do not establish whether a later issuance amended or superseded it. Confirm the current rule with Pag-IBIG Fund or the official register before applying it to payroll.
- Verify the facts for the specific deduction. Check the member’s applicable coverage and fund salary against the filed text, including any definitions or exceptions that affect the calculation.
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