Here’s a definition of term straight from Pag-IBIG:

The Modified Pag-IBIG II (MP2) Program is an additional and voluntary five (5) year savings facility being offered by HDMF to its Pag-IBIG I members that will provide them with a yield higher than their Pag-IBIG I membership.

I don’t want you to confuse MP2 with being a Pag-IBIG member. MP2 is entirely for saving money with added bonus through flexible dividend rate. While if you become a Pag-IBIG member, you can apply for a housing loan and save for retirement through the monthly contribution.

Buying a house and saving for retirement are two of my goals. Wouldn’t it be nice to save more without all the risk and volatility of stocks and other assets?

That’s where the Modified Pag-IBIG II Program comes in.

Who are Qualified

The active members of Pag-IBIG can apply for the MP2 program. Applicants include OFW Pag-IBIG members.

Former Pag-IBIG Fund members with source of monthly income (eg. pensioners and retirees) and have at least 24 monthly savings while a member are also qualified.

Why Should You Save on MP2 Program?

By now, I think you have made up your mind to sign up for the program because it’s an easy investment for five years. After that it’s up to you to invest it for another five years or withdraw. (Then go for a cruise if that is meant to be the travel fund.)

You can have a look for more information about MP2:

• Read the FAQ (new) which is not that long.
• Read the FAQ in Tagalog.

The minimum contribution is Php 500.00 per month. Increase it to Php 1000.00 the next month or skip the next contribution. Or pay once for the entire year. It’s all up to you.

You can save as much as you want in MP2.

Here’s a table to give you an idea of how much your savings can earn at 5.5% and 7.43% annual dividend rate.

Whatever amount you want to save, make it happen. Put the money in your MP2 account.