FOR the first time, Pag-IBIG Fund’s voluntary savings program has surpassed the amount collected for the mandatory contribution of members.
At the Kapihan with Pag-IBIG in Quezon City on Tuesday, Fund vice president Jack Jacinto said the
MP2 savings has reached P116 billion from July 2022 to date or during the Marcos administration against P113 billion of the regular savings.
Jacinto said this is despite the fact that monthly contribution by members had doubled to P200 starting this year.
Jacinto attributed the increase in MP2 savings to members’ continued support to the program due to its high returns of 7.05 percent.
According to Jacinto, as of the third quarter, Pag-IBIG Fund continues to grow with more than 16.37 million active members, who have collectively saved P98.72 billion — P49.27 billion collected from the mandatory regular savings program and P48.86 billion collected under the Fund’s voluntary MP2.
Jacinto said the rate on MP2 as well as on the regular savings depends on the earnings of the Fund.
As of the third quarter, Pag-IBIG’s net income has reached P39.54 billion. Assets stood at P1.02 trillion.
