January 31, 2023

Filipino Guardian

Sentinels of Filipino Free Press

Pag-IBIG Members Save a Record High P66.66B Jan-Oct, Up 27%; MP2 savings outperform P33B, up 57%

Pag-IBIG fund members have saved more than 66 billion pesos over the past 10 months, breaking another record for the period and beating all previous year’s figures, senior agency officials announced Nov. 14.

From January to October, the combined amount saved by agency members totaled 66.66 billion pesos – the highest for a 10-month period. Savings collected so far this year are up 27% from the same period in 2021, beating all full-year figures in the agency’s history, including last year when it collected 63.67 billion pesos, the best-performing year of the year to date Pag-IBIG fund.

“The Pag-IBIG fund has again set a record high, this time in the savings of its members. It speaks to the confidence our members and stakeholders have in our ability to manage their savings in an excellent and prudent manner. With more funds, Pag-IBIG remains in a strong position to fund its programs, particularly its home loans, while keeping interest rates on its loans low. All of this is part of our efforts in support of President Ferdinand Marcos Jr.’s call for a better life for all Filipinos,” said Secretary Jose Rizalino L. Acuzar, who directs the Department of Human Settlements and Urban Development (DHSUD) at the 11- Board of Trustees of the Pag-IBIG Fund.

The agency’s voluntary savings program, modified Pag-IBIG 2 or MP2 Savings, continues to drive the growth of its members’ savings. Over the last 10 months, MP2 savings amounted to a record P33.72 billion, or 51% of the total savings collected by the agency during the period.

Marilene C. Acosta, Pag-IBIG Fund Chief Executive Officer, meanwhile, noted that MP2 savings continue to show remarkable growth as they recorded a 57% increase over the P21.43 billion collected in the same period last year .

“The dramatic growth in our MP2 savings began in 2016 when collections surpassed 1 billion for the first time. We are pleased to note that this year is even more remarkable as the 33.72 billion collectively saved by our members over the first 10 months of the year. We thank our members for their continued trust in the Pag-IBIG Fund. And with just a few weeks left until the end of the year, we assure our members that we’re doing everything we can to give them the best returns on every hard-earned peso they’ve saved with us. This is our way of offering them Tapat na Serbisyo, Mula sa Puso,” Acosta added.

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