HDMF
HDMF
HDMF
BENEFITS
SECTION 1. Return of Contributions A member
shall be entitled to receive his Total Accumulated
Value upon termination of his membership in
accordance with Section 4 of Rule IV, free from
any pending obligation with the Fund or any of its
loan programs. In the event of his death, his legal
heir shall likewise receive the same free from any
pending obligation with the Fund or any of its loan
programs.
SECTION 2. Optional Withdrawal of Contributions
A new member of the Fund after the effectivity
of Republic Act No. 7742 shall have the option to
withdraw his total accumulated value after the
tenth or fifteenth year of continuous membership:
Provided that said member has no outstanding
housing loan with the Fund at the time of
withdrawal. This option may be exercised only
once and shall not prejudice his continuing
membership in the Fund.
The exercise of this option by the member
shall not be considered as a ground to
terminate his membership with the Fund. He
shall continue to be mandatorily covered by the
Fund and his employer is mandated to deduct and
remit the employees required contribution
together with his employer contribution pursuant
to these Rules.
The provision shall likewise apply to all members
who voluntarily joined the Fund under provisions
of Executive Order No. 90 prior to the effectivity of
Republic Act No. 7742.
SECTION 3. Dividend Benefit The Board of
Trustees shall set aside annually an amount which