By Katrina Gracia Consebido
PAG-IBIG Fund members saved nearly P40 billion in 2022 under the Modified Pag-IBIG (MP2) Savings Program, an increase from 54% in 2021’s P25.95 billion.
“Pag-IBIG Fund has again set another record, this time in the amount saved by members under the MP2 Savings Program. This shows the unwavering trust of our members in our capability to excellently and prudently manage their hard-earned peso,” Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar.
“With our strong collections, we can continue to finance the loans of our members and keep our interest rates low. These are in line with our efforts of supporting the call of President Ferdinand R. Marcos Jr. to provide a better life for all Filipinos,” Acuzar added.
The MP2 Savings Program is Pag-IBIG Fund’s voluntary savings that matures within five years. It is for members who want to save more and earn higher dividends in addition for their monthly mandatory savings.
The minimum savings is P500 and members can claim MP2 savings earnings annually or compounded at maturity.
Meanwhile, Pag-IBIG retirees with at least two years of savings can also participate.
Pag-IBIG Fund Chief Executive Officer Marilene Acosta said MP2 savers rose to 30.3% to 977,643 in 2022 from 750,267 in 2021.
Acosta also noted that the MP2 helped more workers save, with 86% of MP2 savers saving an average of P19,357.
“We are very happy that the MP2 Savings continues to encourage more and more Filipino workers to save,” Acosta said.
“Through the program, we have made more Filipino workers appreciate the value of saving by providing them with a secure savings channel for their future goals,” she added.
Acosta assured the public that they will work hard to help the Filipinos “grow their savings and provide them the highest possible returns.” –gb
