Pag-IBIG members generate P13 billion in savings

Despite the uncertainties caused by the COVID-19 last year, Pag-IBIG Fund members turned to the agency’s MP2 Savings and collectively saved over P13 billion, setting a new record for the amount saved voluntarily under the program in a single year.

“We are happy to report that despite the impact of the pandemic to our economy last year, the amount saved by our members in the Pag-IBIG MP2 Savings last year surpassed P13 billion. This is the highest-ever amount saved by our members in the program so far,” said Department of Human Settlements and Urban Development Secretary Eduardo del Rosario, chairman of the 11-member Pag-IBIG Fund Board of Trustees.

“This shows the significant trust that our members have in Pag-IBIG Fund, that we shall manage their hard-earned peso prudently. This will also go a long way in helping us serve more members by providing funds for their home loans and cash loans, all in line with President Rodrigo Roa Duterte’s directive to help uplift the lives of more Filipinos especially during these difficult times,” he added.

As of last year, a total of 338,248 members saved, on the average, P3,270 per month, in the MP2 Savings.

The MP2 Savings is Pag-IBIG Fund’s voluntary savings program that has a 5-year maturity period and a minimum savings requirement of only P500.

Made available to members in 2010, the savings program has seen phenomenal growth over the last five years, mainly due to the higher dividends it offers compared to the agency’s Regular Savings program.

Topics: COVID-19 , Pag-IBIG Fund , MP2 Savings , Eduardo del Rosario
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