Guide on Pag-IBIG MP2 Savings Offer for Members
PAG-IBIG MP2 SAVINGS – Here is a guide on how your money can grow under this savings program of the Pag-IBIG Fund.
Have you heard about the MP2 Savings program of the Pag-IBIG Fund? It is a savings facility where you can grow your money while safekeeping it. This program is a special voluntary savings facility that comes with a five-year maturity.
The MP2 savings was crafted specially for members who wanted to save more and earn big dividends aside from what their Pag-IBIG Regular Savings earn. Here are some of its major benefits for members:
- easy to save as it requires a low minimum savings per remittance
- savings earn higher dividends compared to the dividends for the Pag-IBIG Regular Savings
- dividends are non-taxable and can be withdrawn yearly or after the 5-year maturity
- government-guaranteed
Who are allowed to save under the Pag-IBIG MP2 Savings program? This savings program is open for the following:
- all active Pag-IBIG Fund members
- former Pag-IBIG Fund members like the retirees and pensioners who have other sources of income and have posted at least 24 monthly contributions prior to their retirement
- natural-born Filipinos who reacquired their Filipino Citizenship pursuant to Republic Act 9225 or the Citizenship Retention and Reacquisition Act of 2003, with at least 24 monthly savings prior to permanent migration to another country
How your money can grow under the Pag-IBIG MP2 Savings program? The Fund invests at least 70% of its investible funds in housing finance and government securities and corporate bond.
The Fund sets aside at least 70% of its annual net income and credits it proportionately as dividends of members. Thus, the bigger savings you have, the higher dividends you will earn.
On the 5th and final year of the Pag-IBIG MP2 Savings, the latest dividend rate is applied allowing the member’s savings to earn dividends on the entire 5-year period of the program.