If you are looking for a way to invest your money but you don't know where and how? You may consider investing it in the Pag-IBIG Fund.
You may read my blog or consider watching it through the video above or through this link: https://www.youtube.com/watch?v=gCG3skAKUsc&t=20s
Here are the FAQs about Modified Pag-IBIG 2 Savings Program. This is a complete beginner's guide in investing in MP2.
1. What is Pag-IBIG Fund MP2 Savings Program?
The MP2 Savings Program is a special savings facility with a 5-year maturity offered by Home Development Mutual Fund o maskilala bilang Pag-IBIG Fund.
It’s 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.
2. Who can save under MP2 Savings Program?
Those who are eligible to save under Modified Pag-ibig 2 Savings Program are those who are:
a. Active Members of Pag-IBIG Fund; and
b. Former Pag-IBIG Fund Members with other sources of monthly income and/or Pensioners, regardless of age, with at least 24 monthly savings or contributions before retirement.
You are an active member if you regularly pay your membership contributions, or you have paid at least one membership contribution within the last 6 months.
3. How much do I need to get started?
You only need at least P500 to start saving under MP2 Savings Program. And you must take note that there is no limitation for how much you want to save or invest.
But if you want to earn big, then you have to save big. But most importantly, you start early.
4. Is there a minimum amount that I can save after my initial savings?
Yes, there is a minimum amount to save or you must put it to your account after your initial savings/investment. The minimum amount to save per remittance is at least P500.00.
5. Am I compelled or required to save monthly?
No, as I have said a while ago, MP2 or Pag-IBIG 2 is a voluntary savings program. You have the option to put your money on it whenever you want.
You may also opt to regularly save or contribute a minimum amount of P500 every month, or you also have an option for a one-time savings of a higher amount.
If you are employed (just like those in the government), you can ask your agency or your employer for an automatic deduction from your salary. It’s hassle-free on your part.
6. How much dividends will my savings earn?
Your earnings will depend on the dividend rate of the year. However, MP2 earns a higher dividend rate than the mandatory Pag-IBIG Regular Saving (or what we also called PAG-IBIG 1).
And to give you an idea, take a look at the MP2 dividend rates for the last 10 years.
Historical data of dividends shows that the highest dividend rate was at 8.11%. This also means that the higher you save, the higher dividends you will earn.
But if wala kayong pang one-time bigtime, I suggest you do it religiously, like monthly.
7. Are my MP2 Savings guaranteed?
Yes. This is perfect for low-risk appetite investors actually because MP2 Savings are government-guaranteed.
However, the annual dividends may vary depending on the Financial Performance of the Pag-IBIG Fund.
8. When can I receive the dividends earned?
You can choose to receive your MP2 Dividends through any of the following options:
a. 1st, upon full withdrawal of your MP2 Savings after its 5-year maturity period with your MP2 Dividends compounded annually.
b. Or 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 are released in the form of checks.
9. What will happen after a 5-year maturity period?
You may claim your MP2 Savings anytime upon maturity. If unclaimed, your MP2 Savings will continue to earn dividends for two more years pero your dividend rates will be computed using the dividend rates ng Pag-IBIG 1. It's no longer the dividend rates ng Pag-IBIG 2.
And after the said period (which is 2 years), it will no longer earn dividends, kaya kailangan mo na siyang iwithdraw.
10. Can I re-apply for a new MP2 Savings Account after maturity?
Yes. Once your MP2 Savings reach the 5-year maturity period, you may re-apply for a new MP2 Savings Account.
11. Can I open more than one (1) MP2 Savings Account?
Yes. You are allowed to open and maintain multiple MP2 Savings Accounts.
12. Can I view my MP2 Savings record online?
You can view your MP2 Savings online via VIRTUAL Pag-IBIG Website, including of course the annual dividends it has earned. All you need to do is to create your Virtual Pag-IBIG Account. Using your created Virtual Pag-IBIG account, you may also view there your Regular Pag-ibig Savings Contributions and Loans, if any.
Start creating your Virtual Pag-IBIG Account via Virtual Pag-IBIG: https://www.pagibigfundservices.com/v...
13. How do I remit my MP2 Savings?
We have different ways how to remit your MP2 savings.
a. 1st, is through Salary deduction. This is of course upon agreement or arrangement with your employer.
b. 2nd, you may pay or remit at any Pag-IBIG Fund Branch; or
c. Or you may opt to pay or remit at any Pag-IBIG Fund-accredited collecting partners just like in 7-11, Bayad Centers; Mobile banking; M Lhuillier; SM Business Service Centers; PayMaya; Coins.ph; and GCash.
How to register:
If you have decided to be one of us, you may register thru any of the following modes:
ONSITE ENROLLMENT REGISTRATION:
You may do it offline by submitting a fully accomplished application form to the nearest Pag-IBIG Fund Branch.
Onsite Enrollment Form: https://www.pagibigfund.gov.ph/docume...
ONLINE ENROLLMENT:
Or do it virtually for a hassle-free transaction at the comfort of your home. All you have to do is register online thru:
MP2 Online Enrollment: https://www.pagibigfundservices.com/M...
❤ Disclaimer: I am not a licensed financial advisor. I am not affiliated with the Home Development Mutual Fund (Pag-IBIG Fund). This video is for educational purposes only and should not be taken as professional/financial advice. Always practice due diligence in investing.
❤ Sources and Links:
Pag-IBIG Website: https://www.pagibigfund.gov.ph/index....
Virtual Pag-IBIG: https://www.pagibigfundservices.com/v...
MP2 FAQs: https://www.pagibigfund.gov.ph/FAQ_MP...
MP2 Online Enrollment: https://www.pagibigfundservices.com/M...
MP2 Onsite Enrollment Form: https://www.pagibigfund.gov.ph/docume...
This is nice. Thanks for sharing.
Informative. It helps me understand more about MP2 program of the Pagibig Fund. Keep doing blogs like this. It's a great read. Thank you.