NextGen Day

Cebuano English Filipino

In 2022, the Modified Pag-IBIG 2 (MP2) program was still preferred by Pag-IBIG Fund members as cumulative savings approached PHP40 billion, a new record high.

A remarkable 54 percent growth from PHP25.95 billion collected in 2021, member savings under the MP2 Savings Program totaled PHP39.84 billion last year.

This demonstrates the members’ unfailing faith in our capacity to effectively and wisely handle their hard-earned money. We can continue to support the loans of our members and maintain low-interest rates thanks to our robust collections. The Secretary of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees stated in a statement on Monday that these are in keeping with their efforts to promote President Ferdinand R. Marcos Jr.’s desire for a better living for all Filipinos.

The Pag-IBIG Home Development Mutual Fund’s MP2 Savings Program is a unique voluntary savings option with a five-year maturity period.

It is intended for active Pag-IBIG Fund members who want to save more and earn larger dividends in addition to the monthly Pag-IBIG Regular Savings requirement and has a low entry point of PHP 500 as the minimum savings.

Members have the choice of claiming their MP2 Savings’ returns annually or compounded when they reach maturity.
Pensioners and retirees who were once Pag-IBIG members and have at least two years’ worth of savings before retiring are also eligible for the program.

Since it was first made accessible to members in 2010, MP2 Savings has had tremendous growth as more members recognize it as a secure, low-risk savings option that offers favorable returns.

According to Marilene Acosta, chief executive officer of Pag-IBIG Fund, MP2 savings climbed from 750,267 in 2021 to 977,643 or 30.3 percent by the end of 2022.

She said that more employees are now able to save thanks to the MP2, with 86 percent of the agency’s MP2 Savers having an average savings of PHP19,357.

“We are pleased that the MP2 Savings Program continues to inspire Filipino workers to save. By giving them a safe savings channel for their future ambitions, we have increased the number of Filipino workers who understand the importance of saving through the program. Our members can be confident that we will work hard to increase their funds and give them the finest returns. Lingkod Pag-IBIG is at work there, according to Acosta.

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Cebuano English Filipino