QUEZON CITY, (PIA)—The Pag-IBIG Fund announced that voluntary savings collection under the Modified Pag-IBIG 2 (MP2) surpassed its mandatory savings, reflecting members' trust in the Home Development Mutual Fund.
Pag-IBIG Fund Chief Executive Officer (CEO) Marilene C. Acosta reported that MP2 savings collection reached 31.5 billion, 52.92% of the total collection of Pag-IBIG Fund from January to August 2023.
“Pag-ibig Fund is now collecting a larger amount of voluntary savings against the mandatory savings. That is why we value this number, this accomplishment, because we believe this is a sign of the trust of our Pag-ibig members,” Pag-IBIG Fund CEO Marilene Acosta stated.
The MP2 Savings is a special savings facility with a 5-year maturity, designed for Pag-IBIG Fund members who wish to save more and earn even higher dividends, in addition to their Pag-IBIG Regular Savings. The program is also open to pensioners and retirees who were former Pag-IBIG Fund members.
Aside from that, there are 15.58 million contributing members recorded from January to August this year who have contribution of at least one for the last six months, while there are 59.52 billion in membership savings, which is 11% higher year on year.
Pag-IBIG CEO Acosta also noted that there are 76.94 billion in housing loans released, 6% higher than last year which could be translated into a number of houses constructed and number of jobs generated.
“So it's not as simple as 77. And the number of individuals, because if that is 40,000 or 50,000 units times 4, how many of those are happy individuals because they have their own house? So as I said, the multiplier effect of housing construction is big,” CEO Acosta stated.
Moreover, Pag-IBIG Fund also reiterated the public about their virtual Pag-IBIG or mobile application. Members can pay online, apply for and manage loans, view records, and claim their Pag-IBIG savings through the application.
At the same time, members can also acquire the Pag-IBIG Loyalty Card Plus that provides exclusive discounts and rewards on grocery purchases, tuition fee, hospital bills, fuel expenses, restaurant bills and many more from more than 300 partner establishments nationwide. It can be used also as a cash card wherein the member may conveniently receive their Pag-IBIG
Multi-Purpose Loan (MPL) proceeds, MP2 Savings dividends, and other benefits.
(Photos by Pag-IBIG Fund)
