PAG-IBIG is an acronym for PAGtutulungan sa kinabukasan: Ikaw, Bangko, Industriya, at Gobyerno.
This was set up by the government for the contributors or members (working locally and abroad) in buying a home. The required contribution is at least PHP100 per month (you can contribute a bigger amount). OFWs can choose to pay a yearly lump sum.
What are the benefits? As registered members who have contributed regularly for 2 years are eligible for a home loan of up to PHP6,000,000.
Also, your contribution serves as an investment tool because it earns dividends.
Watch the 90-seconds Pag-IBIG fund explanation.