How to Claim your PSMBFI MER/MBIEV
How to Claim your PSMBFI MER/MBIEV
The Public Safety Mutual Benefit Fund, Inc.
(PSMBFI) is a mutual benefit corporation that provides insurance and financial
services to its members, particularly uniformed PNP officers. The organization
strives to improve the advantages and services it provides to its members on a
regular basis.
On October 8, 2021, the PSMBFI released an advisory on the distribution of Member’s Experience Refund (MER) and Member’s Benefit from Interest on Equity Value (MBIEV) covering 2018-2019 before the year ends.
Now, what is MER? MBIEV?
Members Experience Refund (MER) is the portion of a policyholder’s premiums that is refunded to
them if the insurer’s loss experience is better than projected.
Members Benefit on Individual Equity Value (MBIEV) is an increase in membership fee that is
declared and distribute annually to its members to mitigate the impact of the
12% committed interest rate by reducing the amount of the Equity Value that
will earn interest at a compounded rate.
UPDATE: (As of April 16, 2024)
The PSMBFI will distribute the MER and/or MBIEV to “eligible” PSMBFI members who have not yet received their MER/MBIEV through Landbank of the Philippines PNP ATM Payroll Account on April 18, 2024.
Important Note: ONLY members who UPDATED
their contact information are eligible to receive their MER or MBIEV cash.
What to do if you have not received your PSMBFI MER/MBIEV?
If you did not receive via PayMaya or landbank ATM payroll account, you may call their hotlines at (GLOBE) 09178665872 and 09459923446, or (SMART) 09190616149 and 09690382555.
I
recommend that you personally visit your PSMBFI office near you to inform them
of the matter and get clarification.
To claim
your MER and/or MBIEV via InstaCredit, follow these steps:
1. Visit your PSMBFI office;
2. Fill out a request form. You will also be informed about the amount that you will be receiving;
3.
Wait for at least a month to receive an SMS containing the InstaCredit
reference number; and
4. Get
your MER and or MBIEV by showing the Insta Credit reference number at any
MLhuillier branch or at any other remittance centers.
To know if you are eligible to receive the PSMBFI MER/MBIEV cash, visit PSMBFI CHECK ELIGIBILITY.
Type in your PNP Account Number (check your PNP payslip) and click or tap CHECK
ELIGIBILITY button.
If you are qualified, then you must fill out the Contact Information Update
Members
must prepare the following needed important information before you access the
contact information online:
a. PNP
Account Number; (check your printed payslip or online)
b. Latest Mobile Number; and
c. PayMaya Account Number (most important)
Important
Note: Only members who updated their contact
information are eligible to receive their MER or MBIEV cash.
Last August 18, 2021, the PSMBFI has
distributed a total amount of P857,529,441.79 to 104,139 eligible members whose
cash benefits deposited directly to their PNP ATM Payroll Account with Landbank
of the Philippines.
READ: How to Create PayMaya Account in 2024 (STEP BY STEP)
According to PSMBFI, all related concerns will be answered or you can visit their Facebook page at Public Safety Mutual Benefit Fund Inc.