Have You Tried Saving Through Modified Pag-IBIG 2 (MP2) Program?

MP2 Pagibig savings

I regretted the fact that I didn't start early 😢I knew this program since 2017 but I was too lazy to go to the Pagibig office. However, recently, processing can be done online through Pagibig Virtual Services, so it's pretty convenient. 👍

MP2 Pagibig Savings program is entirely voluntary and you're not required to save monthly. Just save when you're able. But this is a better option than putting your money in the bank. 

MP2 Savings program is a government-guaranteed scheme so your money is safe and protected. With an assurance of ROI.

But just to remind everyone that this is not similar to PSE or a hedge fund investment strategy where you can get a higher return of investment haha! This is not an easy money scheme like those promised by scammers grrr! 

This is a saving program with a guaranteed annual tax-free dividends. But the dividends rate is higher than the regular savings interest in the bank (or even the time deposit). And your money is safe because Pagibig is a government-run institution. Plus, you've something to look forward to in five years. 

MP2 Savings account is different from your regular Pag-ibig premium. This savings program has a 5-year maturity period and allows you to save more anytime (it's not mandatory to save monthly).

I just started two years ago with 1K per month, sometimes more than 1K a month (depends on my monthly income 😄). MP2 Saving is open to all active members of Pag-ibig, even OFW as long as you're a member of Pag-ibig. 

When you enroll, you may choose to claim your dividends annually or when your account matures (in five years).

So if you are an active pag-ibig member, you better start now! It's really a good saving scheme. 

How Much You Will Earn.

It has higher dividends than the regular pag-ibig contribution, and higher than the interest offered by the banks on savings account. The dividends you can get from MP2 Savings are tax-free. 

Here are useful info from MP2 Savings - FAQs

1. What is MP2 Savings program?

The Modified Pag-IBIG II (Pag-IBIG MP2) Savings Program is a special voluntary savings facility with a 5-year maturity, designed for active Pag-IBIG Fund members who wish to save more and earn higher dividends, in addition to their Pag-IBIG Regular Savings.

Here are its key features:
  • Easy to save as members can save for only a minimum of P500 per remittance.
  • Earns higher dividends than the Pag-IBIG Regular Savings
  • Dividends are tax-free and can be withdrawn annually or after the 5-year maturity
  • MP2 Savings are government-guaranteed
You can save a minimum amount of Php500 per month. But you can remit a one-time lump sum amount. Yes. You may choose to remit a one-time lump sum amount for the whole 5-year period of your MP2 Savings.

There is no limit on how much you will save. You can save as much as you want under MP2. However, should you make a one-time saving that exceeds P500,000.00, you shall be required to make such remittance via personal or Manager’s Check.

Also, members with MP2 Savings of above P100,000.00 shall be required to submit proof of income or source/s of funds, based on the checklist found in the MP2 Savings Enrolment Form.

You can read the rest of FAQs HERE

Based on my personal experience:
  • I am paying my monthly saving through Gcash but this month I switched to Paymaya due to cashback haha!
  • My monthly saving is not the same amount. Sometimes 1K, sometimes more than that.
  • Yes you may increase your monthly savings
  • But remember it's not mandatory to save monthly. This is a voluntary saving program. You can put money anytime. 
  • You should register through Virtual Pag-ibig to monitor your savings and dividends
If you want to enroll, go to Pag-ibig Services HERE

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