Melo Villareal
How to Save for Travel Funds via Pag-IBIG MP2 Savings
Team Out of Town Blog Hub (Outoftownblog.com) – Want to know where else you could save money? Aside from your trusty coin bank or your own bank account, you could try the PAG-IBIG MP2 Savings program, which might be better for you if you like long-term investments. Read more about this program below!
What is an MP2 Savings Program?
The Pag-IBIG MP2 Savings program or Modified Pag-IBIG 2 savings is a special savings facility available for Pag-IBIG fund members. It’s different from the usual Pag-IBIG regular savings deducted from your payroll if you’re employed. Simply put, this program is voluntary.
Pag-IBIG fund members can save more through this program while earning higher dividends. The more you save, the more dividends you earn. It’s also important to note that dividends are tax-free. You can withdraw this annually or after the five-year maturity.
This is available for natural-born Filipino fund members, pensioners, and retirees. Active fund members must at least have a one-month contribution within the last six months. Also, regardless of age, you can save via MP2 as long as you have 24 monthly savings before retirement.
How can I open an MP2 savings account?
You can enroll in MP2 savings in two ways:
via online
Step 1: Log on to pagibigfundservices.com.
Step 2: Accomplish the online form by inputting details such as your Pag-IBIG MID number, name, and date of birth.
Step 3: Click ‘Submit.’
via any Pag-IBIG branch
Step 1: Accomplish an MP2 enrollment form and photocopy a valid ID.
Step 2: Provide additional requirements as needed.
Step 3: Submit the form and requirements to any Pag-IBIG fund branch.
How do I pay for MP2 contributions?
There are two ways to remit your MP2 contributions:
- via salary deduction, for those who are currently employed. Your employers can remit your contributions to the Pag-IBIG fund.
- via online remittance. You can pay through: www.pagibigfundservices.com/virtualpagibig
Modes of payment include GCash, Maya, or credit or debit card.
- online payments such as GCash, Maya, coins.ph, or Moneygment app
- via over-the-counter remittance in the following banks: any Pag-IBIG Fund branch
Authorized collecting partners’ outlets or branches:
- Asia United Bank
- Robinsons Bank
- United Coconut Planters’ Bank
- SM Business Centers
- Bayad
- M. Lhuillier
- ECPay accredited merchants
Authorized collecting partners’ outlets or branches overseas:
- Philippine National Bank
- Asia United Bank
- IRemit powered merchants
- Ventaja powered merchants
- Cashpinas powered merchants
How much can I save in the MP2 savings?
The minimum amount is P500 per remittance. There’s no limit to how much you want to remit, but if a one-time payment exceeds P500,000 you need to pay via personal or Manager’s check. For those with MP2 savings of P100,000 and above, you need to provide a source of funds too.
Have you tried the MP2 savings yet? How was your experience in enrollment and processing? Let us know in the comment section below!
Source: Pag-IBIG
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