Literacy of Pag-IBIG Fund members on Provident Savings

FINANCE

Provident funds are essential financial instruments designed to help people save for retirement and future needs. This study aimed to assess the level of literacy among Pag-IBIG Fund members in Eastern Pangasinan regarding provident savings, focusing on regular savings, short-term loans, and housing loans. The research revealed that the respondents had an overall good awareness of provident savings. However, the respondents demonstrated lower awareness of regular savings and housing loans than short-term loans. The study also found that the literacy level of respondents varied significantly based on their age, gender, monthly income, educational attainment, and employment status. As a result, the null hypothesis-stating no significant difference in the level of literacy of Pag-IBIG Fund members on the provident savings across their socio-economic profile, was rejected. In conclusion, the study highlights the general awareness of Pag-IBIG Fund members about provident savings, though there are areas for improvement, particularly in housing loans and regular savings. Additionally, socio-economic factors play a significant role in the level of literacy among members.

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