Members save record-high P27.51B in Jan-Apr 2023 in Pag-IBIG, up 10%; MP2 Financial savings attain P13.89B, up 14%
Pag-IBIG Fund members saved P27.51 billion in the course of the first 4 months of 2023, rising 10 % year-on-year and setting a brand new document for the best quantity saved by members for any January to April interval.
“We’re blissful that Filipino staff are saving extra with Pag-IBIG Fund. Their belief and confidence in our financial savings applications proceed to develop as confirmed by our record-high members’ financial savings collections for January to April. That is excellent news as a result of the rise within the financial savings collected shall enable us to finance the growing demand for our residence loans, consistent with our aims beneath the Pambansang Pabahay para sa Pilipino Housing or 4PH Program of President Ferdinand Marcos, Jr.,” mentioned Secretary Jose Rizalino L. Acuzar, who leads the Division of Human Settlements and City Growth (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.
Pag-IBIG Fund Chief Government Officer Marilene C. Acosta, in the meantime, mentioned that the rise in financial savings was not confined to the mandated Pag-IBIG Common Financial savings of its members. Acosta additionally attributed the record-high collections to the continued reputation of the company’s Modified Pag-IBIG 2 (MP2) Financial savings Program. The quantity voluntary saved by members beneath its MP2 Financial savings within the first 4 months have already reached P13.89 billion, which is 14% larger than the P12.14 billion saved by members throughout the identical interval final yr, and can be a brand new record-high.
The MP2 Financial savings is Pag-IBIG Fund’s voluntary financial savings program that yields larger dividends in comparison with the company’s Common Financial savings program. This system has a 5-year maturity interval and a minimal financial savings requirement of solely P500. The MP2 Financial savings can be open to retirees and pensioners who’re former Pag-IBIG Fund members. For 2022, the financial savings program earned an annual return fee of seven.03%, the best because the pandemic.“Our MP2 Financial savings Program continues to develop at a powerful tempo. We thank our members for his or her continued help and enduring belief in our MP2, in addition to in our Common Financial savings program. We’re much more grateful that the most important progress areas in our financial savings collections come from our voluntary MP2 Financial savings Program and from members who save greater than their mandated month-to-month financial savings. The brand new record-high in whole members’ financial savings we collected from January to April of this yr present the deeper appreciation of our members on the advantages of saving with Pag-IBIG Fund,” Acosta added.