Most Filipino employees forcibly make contributions to these two funds every month. I received my payslip a few days ago but for one reason or another, I only really looked at it yesterday and got curious about these automatic deductions and where they’re going. My older and wiser officemates informed me that if I’m eligible, I can take out loans for things like housing and start-up businesses. I said I didn’t like the idea of borrowing my own money and paying it back with interest but I guess that’s one way the government makes money so that’s not too bad. I was told that I should check my contributions regularly anyway, just to make sure there are no discrepancies in my balance. And I’m like, “What discrepancies??” Apparently some fuckers who work for Pag-Ibig regularly perform searches for inactive members, people who haven’t checked their contribution balance in years and have a lot of funds available to them, well, guess what, these fucking immoral employees get in the database, falsify information and take out loans without any intention of paying them back! And later on, when these unsuspecting contributors finally do need that money, they’ll get one helluva shock when they discover that they took a loan out several years ago and will now have to pay that and the interest that’s accrued over the years! Needless to say, I was horrified! I mean I’ve never thought about those stupid contributions before. I don’t like taking loans out on anything, sometime ago I’ve adopted the philosophy that if I can’t afford it then I probably don’t need it now. While this mindset is kind of changing (because I’m getting smart at finance and all that), I’m still wary about these Pag-Ibig and SSS loans.
Anyway, I got myself in a fit and filed a request for HR to issue me a certificate of these contributions stat! My loan-savvy officemates assured me that I haven’t really been working long enough to be a desirable target, these miserable shits usually go after people who have been working for at least a decade or so. They should be lined up and shot in public! Fuckers!
But anyway, if you work in the Philippines and are enrolled in any of these programs, you might want to get all proactive and check your balance from time to time, just to make sure that things are in order. You don’t want to be 60 and in need of a hip replacement, only to find out that you can’t afford it and will probably die trying to pay the interest off and then leave behind a legacy of debt to your loved ones. SSS is usually online, sss.gov.ph and it’s easy as pie to check your balance there. It would be wise to make copies of those for future reference. Don’t make it so easy for them to steal your hard-earned money.
UPDATE: Because some of you are being complete numbskulls, let me make it clearer here: I do not work for either SSS or Pag-Ibig, don’t ask me for help. In short: I CANNOT PROVIDE YOU INFORMATION ABOUT YOUR FUCKING CONTRIBUTION BALANCES AND LOANS.
Knock yourselves out.