Late 2017, I heard about Pag-IBIG’s MP2 Program and I was really interested. By January of 2018, I started setting aside 500 pesos each month for the MP2 program.
According to Pag-IBIG Fund, the MP2 program is solely a savings scheme, designed to provide Pag-IBIG I members with another savings option that would grant them with a yield higher than those given under the Pag-IBIG I membership program. The program took effect on 3 February 2010.
- Minimum contribution of 500 pesos per month.
- Term of 5 years, renewable.
- Flexible dividend rates but always higher than Pag-IBIG 1.
- Contributions and earnings are government guaranteed.
After a year of setting aside 500 pesos every month for my MP2 contribution, I can say that I’m happy that I did it. Setting aside 500 pesos didn’t feel heavy for me. I just didn’t think of it at all.
Last month, I requested for a copy of my Employee’s Statement of Accumulated Value (ESAV) online just to see how much I have gained from my 2018 contribution, and I just received my ESAV today.
I know you can get your ESAV right away if you ask a copy at any Pag-IBIG Fund branches nationwide. The nearest Pag-IBIG Fund branch from my place is 6 hours away by bus, so I decided to request online instead of spending 700 pesos for a roundrip bus fare.
Here’s a copy of my ESAV…
I earned 241.35 pesos from my 2018 contributions, and for me that’s a lot compared to what I earn (savings interest) from my bank. Looking at it inspires me to save more.
I was thinking of increasing my monthly budget for the MP2 program sometime this year, from 500 pesos to 1,000 pesos every month.
1 year down, 4 more years to go! I still don’t know if I’ll renew on the 5th year or take it all out and use it to start a business or a different investment. We shall see.
You too can apply for the MP2 program. Interested members may enroll online for an MP2 account via the Online MP2 Enrollment System of the Fund. Please visit http://www.pagibigfund.gov.ph/memserv/.
This post is not sponsored by Pag-IBIG Fund. I did this post to share my experience with the program and how happy I am with it.