Are you planning to invest in about five years but not so sure yet where to get your finances? The MP2 Pag-IBIG Program might be the answer. If you don’t have enough cash for the investment that you’ve been planning, this program will help save up money that will be needed. This program is a voluntary 5 yr. savings scheme that had been added by Pag-IBIG Fund for its members.
MP2 Pag IBIG Program
This is different from the regular savings and has a higher dividend rate than that of the regular savings. Any active member may apply for this program and this includes the OFWs. Even the retired Pag-Ibig members can also join provided that they have a monthly source of income like pension had at least twenty four months of contribution during their membership.
Perks of Saving on MP2
You can say that this is an easy way of investing. Why? The minimum amount you will need monthly is just Php 500.00 and it can be increased to any amount that will be easy for you. You can also pay “one time big time” and it will give you a higher yield. If you’re employed, it can be directly deducted from your salary or you can even pay for the entire year; payment mode actually depends on your preference.
For a minimum savings of Php500 per month you will be able to withdraw Php35,776.68 upon maturity. That’s about 5,776.68 interest. It might not seem too big but aside from being able to save that amount, this interest is not bad. You would probably just spend this on unnecessary things if didn’t invest it.
Here’s a table to give you an idea of how much your savings can earn at MP2 Pag IBIG II
How to apply and pay MP2 Pag IBIG II
There are two ways of enrolling at this program. There is a downloadable enrollment Pag IBIG form which after filling up can be brought to the nearest Pag-IBIG branch to register. You can also register pag ibig online. Either way, once you have enrolled and have been given your MP2 account number, you can no start remitting.
OFWs can also sign up online. They can ask a family member or friend to pay on their behalf. They can also pay through these Overseas Remittance Partners;
- I-Remit Ventaja (PayPilipinas is included)
- I-Text Mo Sa Pag-IBIG
- I-Express Remit Mo Sa Pag-IBIG
- Asia United Bank
- Philippine National Bank
When and how to withdrawal
Maturity date is after 5 years wherein you’ll be able to withdraw your savings plus dividends. You can also opt to continue for another 5 years.
Savings can only be withdrawn before maturity period under these circumstances;
- *Total Disability
*It’s not possible to check your pag ibig contribution online so remember to keep your receipt. You can also request for a copy at any Pag-IBIG branch or you can ask for it through email.
Also you can have a look for more information about MP2: