BAGUIO CITY – Pag-IBIG Fund is now offering a voluntary savings program called Modified Pag-IBIG II (MP2) Program which has higher yields and shorter terms.
Lawrence Ocampo, chief marketing and enforcement division of Pag-IBIG Fund, Baguio, in a radio interview announced that the program is open to all Pag-IBIG I members including Overseas Filipino Workers (OFWs) with a monthly gross income exceeding P5,000.
Ocampo said under the said program, Pag-IBIG members have a savings option with a term as short as five years and a preferential dividend rate that is higher than that of regular membership. A member may contribute as low as P500 monthly at six percent dividend rate per annum.
He added a 6 percent dividend rate per annum for a monthly contribution of P500, the Total Accumulated Value (TAV) at the end of the five year membership term of P34,921.79 and P81,655.02 for 10 years.
The TAV comprises a member's contributions and its corresponding dividends.
According to Ocampo, members who want to avail of the Pag-IBIG II savings should maintain their mandatory Pag-IBIG I membership where they have to contribute at least P100 monthly as employee counterpart and which has a 20-year maturity period.
Ocampo said the MP2 Program is solely a savings scheme.
It has membership term of five years renewal after maturity.
However, withdrawal of contributions prior to maturity shall be allowed under any of the following circumstances: total disability or insanity, separation from service by reason of health and death.
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