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THE PAG-IBIG II SAVINGS PROGRAM

Pag-IBIG Fund is not just about Housing Loans, though this is the most popular benefit offered by the institution to its members. Once you become a member of the Pag-IBIG Fund, you also participate in its Savings Program where you get yearly dividends and which you can claim upon maturity of your membership. There are actually three types of Savings Programs under Pag-IBIG, namely:


The Pag-IBIG I (P1) Program

This is the most popular Savings program and one that recently become mandatory for all Filipino employees based in the Philippines. So far on this website, we have focused our discussions on Pag-IBIG I and Pag-IBIG Overseas Programs and there are a lot more topics to be covered in the coming days. The minimum monthly contribution to the Pag-IBIG I program is only PhP 200 (combined employee-employer contribution.)
 

Pag-IBIG Overseas Program (POP)

This savings program is applicable to overseas Filipino workers (OFW) and Filipino immigrants abroad. Minimum monthly contribution to the Pag-IBIG Overseas Program is only USD 5; actual contribution will be converted to Philippine Peso upon payment. Overseas Filipinos should learn more about the Pag-IBIG Overseas Program and take advantage of it.
 

Pag-IBIG II (P2) Program
This is the lesser known Savings program of Pag-IBIG Fund, maybe because it is non-mandatory. It was first introduced in 1989 for members who want to avail of larger amount for housing loan. That is, large loan must have bigger contributions. But a lot of changes has been made since then. Today, Pag-IBIG II is much similar to P1 and POP, but with much higher dividend. The minimum month contribution to the program is PhP 500 only; this is on top of your contributions to P1 and/or POP.


Q & A: Other Important Information On Pag-IBIG II Program

1. Can I participate on Pag-IBIG II if I am already a member of Pag-IBIG I or POP?
Yes, and it is also open to POP members. You have to file a separate application to do this. Remember that this is an additional contribution of at least PhP 500 per month. This of this as a savings program with a higher yield, more than anything else. And one more thing, to participate in this program, you must be an active member of either P1 or POP.

2. Can I apply for a loan under Pag-IBIG II?
No, Pag-IBIG II is purely a Savings Program.

3. Can I withdraw my savings anytime?
Members of Pag-IBIG Fund can withdraw their total accumulated value (TAV) upon maturity of their membership only, but there are exceptions:

  • total disability or insanity
  • separation from service for health reasons
  • death

The Total Accumulated Value is your total contributions plus its dividends. The term of this investment is five (5) years. That is, by the end of five years, you will get your TAV.

4. What are the other benefits of investing in this program?

  • higher dividend compared to Pag-IBIG I
  • your dividend is tax-free
  • your investment is guaranteed by the government

5. How much exactly is the dividend?
Remember that you are investing in a mutual fund and your dividend depends on many factors. But so far, on the average, P1 so offers 5.5% per annum and P2 is something around the 6.5% figure. That is still comparably larger than your usual regular savings account with a bank.


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