Saturday, February 12, 2022

Pag-IBIG MP2 FAQ's

Modified Pag-IBIG 2 - Frequently Asked Questions

What is Pag-IBIG Fund MP2 Savings Program?

The MP2 Savings Program is a voluntary savings platform for Pag-IBIG Fund members who wish to save more and earn high dividends, in addition to their Pag-IBIG Fund Regular Savings.

Who can save under MP2?

  • Active Pag-IBIG Fund Members; and
  • Former Pag-IBIG Fund Members with other sources of monthly income and/or Pensioners, regardless of age, with at least 24 monthly savings prior to retirement.

Is there a minimum amount that I can save?

Yes. The minimum MP2 savings is PhP500 per remittance.

Is there a limit to the amount that I can save?

There is no limit. You can save as much as you want under MP2. Should you wish to save an amount exceeding PhP500,000.00, you would have to issue a personal or manager’s check.

How do I save under MP2?

You may regularly save a minimum amount of PhP500 every month in your MP2 Savings Account. You may also opt for a one-time savings of a higher amount.

How much dividends will my savings earn?

Your MP2 savings earn tax-free dividends, at a rate higher than the dividend rate of the Pag-IBIG Fund Regular Savings Program.

Pag-IBIG Fund sets aside at least seventy percent (70%) of its annual net income and credits it proportionately to its members’ Pag-IBIG Savings as dividends. This means that the more you save, the higher dividends you shall earn.

In 2020, despite the challenges of the pandemic to our economy, the MP2 Savings earned a dividend rate of 6.12%.

When can I receive my MP2 Dividends?

You can choose to receive your MP2 Dividends through any of the following options:

    • Upon full withdrawal of your MP2 Savings after its 5-year maturity period with your MP2 Dividends compounded annually;
    • Through annual pay-out with your MP2 Dividends credited to your savings or checking account enrolled in any of Pag-IBIG Fund accredited banks, such as the Land Bank of the Philippines (LBP), Development Bank of the Philippines (DBP), or other banks that the Pag-IBIG Fund may accredit in the future. For members who opt for annual dividend payout but have no Philippine bank account, especially in the case of overseas members, MP2 Dividends shall be released to them in the form of checks.

Can I re-apply for a new MP2 Savings Account once my MP2 Savings matures?

Yes. Once your MP2 Savings reach the 5-year maturity period, you may re-apply for a new MP2 Savings Account.

You may claim your MP2 Savings anytime upon maturity. If unclaimed, your MP2 Savings shall continue to earn dividends for two more years based on the dividend rates of the Pag-IBIG Fund Regular Savings Program. After the said period, it shall no longer earn dividends, and must be withdrawn or claimed.

Can I open more than one (1) MP2 Savings Account?

Yes. You are allowed to open and maintain multiple MP2 Savings Accounts.

Are my MP2 Savings guaranteed?

Yes, MP2 Savings are government-guaranteed. However, the annual dividends, may vary depending on several factors, such as Pag-IBIG Fund’s financial performance.

Where does Pag-IBIG Fund invest my money?

Pag-IBIG Fund invests at least 70% of its investible funds in housing finance, as required by its Charter. It also invests in government securities and corporate bonds

How can I enroll?

Simply submit your duly accomplished MP2 Savings Application form at your nearest Pag-IBIG Fund Branch, along with the following:

    • Valid Identification Card; and
    • Passbook or ATM Card of your nominated bank account

You may download the MP2 Savings Application form here.

How do I remit my MP2 Savings?

  • Salary deduction, upon agreement or arrangement with your employer;
  • At any Pag-IBIG Fund Branch; or
  • At any Pag-IBIG Fund-accredited collection partner.


MP2 (Modified Pag-IBIG 2) Savings









HERE IS HOW YOUR MP2 MAY GROW!
*based on a 7.5% dividend rate

FOR PHP500 MONTHLY SAVINGS
Annual Dividend Payout
Month CoveredMonthly Savings (MS)Accumulated MS per yearCumulative SavingsAnnual Dividend PayoutTotal Accumulated Value TAV)
Jan-Dec 2020500.006,000.006,000.00243.756,000.00
Jan-Dec 2021500.006,000.0012,000.00693.7512,000.00
Jan-Dec 2022500.006,000.0018,000.001,143.7518,000.00
Jan-Dec 2023500.006,000.0024,000.001,593.7524,000.00
Jan-Dec 2024500.006,000.0030,000.002,043.7530,000.00
TOTAL-30,000.00-5,718.7530,000.00

Compounded Savings
Month CoveredMonthly Savings (MS)Accumulated MS per yearCumulative SavingsDividend AmountTotal Accumulated Value TAV)
Jan-Dec 2020500.006,000.006,000.00243.756,243.75
Jan-Dec 2021500.006,000.0012,243.75712.0312,955.78
Jan-Dec 2022500.006,000.0018,955.781,215.4320,171.21
Jan-Dec 2023500.006,000.0026,171.211,756.5927,927.81
Jan-Dec 2024500.006,000.0033,927.812,338.3436,266.14
TOTAL-30,000.00-6,266.1436,266.14

PHP1,000 MONTHLY SAVINGS
Annual Dividend Payout
Month CoveredMonthly Savings (MS)Accumulated MS per yearCumulative SavingsAnnual Dividend PayoutTotal Accumulated Value TAV)
Jan-Dec 20201,000.0012,000.0012,000.00487.5012,000.00
Jan-Dec 20211,000.0012,000.0024,000.001,387.5024,000.00
Jan-Dec 20221,000.0012,000.0036,000.002,287.5036,000.00
Jan-Dec 20231,000.0012,000.0048,000.003,187.5048,000.00
Jan-Dec 20241,000.0012,000.0060,000.004,087.5060,000.00
TOTAL-60,000.00-11,437.5060,000.00

Compounded Savings
Month CoveredMonthly Savings (MS)Accumulated MS per yearCumulative SavingsDividend AmountTotal Accumulated Value TAV)
Jan-Dec 20201,000.0012,000.0012,000.00487.5012,487.50
Jan-Dec 20211,000.0012,000.0024,487.501,424.0625,911.56
Jan-Dec 20221,000.0012,000.0037,911.562,430.8740,342.43
Jan-Dec 20231,000.0012,000.0052,342.433,513.1855,855.61
Jan-Dec 20241,000.0012,000.0067,855.614,676.6772,532.28
TOTAL-60,000.00-12,532.2872,532.28

PHP1MILLION (ONE-TIME SAVINGS)
Annual Dividend Payout
Month CoveredMonthly Savings (MS)Accumulated MS per yearCumulative SavingsAnnual Dividend PayoutTotal Accumulated Value TAV)
Jan-Dec 20201,000,000.001,000,000.001,000,000.0075,000.001,000,000.00
Jan-Dec 20210.000.001,000,000.0075,000.001,000,000.00
Jan-Dec 20220.000.001,000,000.0075,000.001,000,000.00
Jan-Dec 20230.000.001,000,000.0075,000.001,000,000.00
Jan-Dec 20240.000.001,000,000.0075,000.001,000,000.00
TOTAL-1,000,000.00-375,000.001,000,000.00

Compounded Savings
Month CoveredMonthly Savings (MS)Accumulated MS per yearCumulative SavingsDividend AmountTotal Accumulated Value TAV)
Jan-Dec 20201,000,000.001,000,000.001,000,000.0075,000.001,075,000.00
Jan-Dec 20210.000.001,075,000.0080,625.001,155,625.00
Jan-Dec 20220.000.001,155,625.0086,671.881,242,296.88
Jan-Dec 20230.000.001,242,296.8893,172.271,335,469.14
Jan-Dec 20240.000.001,335,469.14100,160.191,435,629.33
TOTAL-1,000,000.00-435,629.331,435,629.33


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3 comments:

  1. docdjFebruary 18, 2022 at 2:25 PM

    Hello po! If i choose to deposit 500 per month and then I have 10K to deposit the second month, will it be accepted? I ask because the options u gave are only 1 amount per month or one time large amount. Please enlighten. Thank u.

    ReplyDelete
    Replies
    1. Mark C. TacordaFebruary 21, 2022 at 3:21 PM

      Kabayan, kung MP2 ang tinutukoy mo ay opo, any amount po na gusto natin isave ay pweding pwedi, basta ang kondition ay minimum P500.00.

      Pwedi tayo mag save anytime, anydays, any months. Pweding sa isang araw pwedi ka mag save ng paulit ulit na kahit ilang amount, basta minimum P500.00 as MP2 savings.

      Delete
    2. Mark C. TacordaFebruary 21, 2022 at 3:27 PM

      Ganito po kabayan, para sa MP2 magbigay tayo senaryo, ngayong FEBRUARY 22 (umaga), meron ako pera subra na P500.00, then nag save ako or nilagay ko sa MP2 ko at pagkahapon Feb. 22 ay nagka pera ako ng P10K then nilagay ko sa MP2.ko uli, ok nanok po yon, accepted po yun, then next day Feb. 23, nagka pera ako uli umaga palang nag save na ako sa MP2 ko na P50K, at pagkahapon meron ako P700.00 at pinag save ko uli. Ok nanok po yun, any amount, any time as long as minimum P500.00 pataas.

      Delete

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