Pag-IBIG members save record-high ₱59.52B in Aug 2023, up 11%; MP2 Savings reach ₱31.50B, up 16%

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Photo from Pag-IBIG Fund

Metro Manila (CNN Philippines, September 26) — Pag-IBIG Fund members collectively saved ₱59.52 billion in January to August this year, growing 11.45 percent year-on-year and setting a new record for the highest amount saved for any January to August period.

"We are happy to see that more Filipino workers recognize the importance of saving and are choosing to save with Pag-IBIG Fund. The record high in Pag-IBIG members’ savings collected from January to August 2023 shows their continuing trust and confidence in us and in our programs,” Housing Secretary and Pag-IBIG Fund Board of Trustees Chairperson Jose Rizalino Acuzar said.

“This is good news because as our collection increases, the more funds we are able to utilize for the benefit of our members who seek to apply for home loans and short-term loans. All these are in line with the directive of President Ferdinand Marcos Jr. to improve the Filipino workers’ access to finance,” he added

Pag-IBIG Fund Chief Executive Officer Marilene Acosta, meanwhile, noted that the growth in members’ savings collected were seen in both the agency’s mandatory Regular Savings and its voluntary MP2 Savings.

Collections for the Pag-IBIG Regular Savings reached ₱28.03 billion, a 7 percent increase from the ₱26.16 billion collected during the same period in 2022.

On the other hand, the agency’s popular MP2 Savings reached ₱31.50 billion, a 16 percent increase from the ₱27.25 billion collected in January to August last year.

In 2022, the Pag-IBIG Regular Savings earned an annual dividend rate of 6.53%, while the MP2 Savings posted an annual return rate of 7.03%.

“The continued growth of our members’ savings is truly remarkable. We are grateful to the business community for responsibly remitting the Pag-IBIG contributions of their employees and their counterpart share on time. We are also thankful to our members for their trust in saving with Pag-IBIG by saving more than the required ₱100 monthly contribution under the Pag-IBIG Regular Savings, and by continuing to save in our MP2 Savings,” Acosta said.

“This trust is clearly displayed by the amount voluntarily saved by our members, which has in fact surpassed the amount of mandatory savings we have collected. That is why we remain steadfast in our commitment to prudently and excellently manage each and every hard-earned peso that our members have entrusted us, and provide their savings with the best possible returns,” she added.