Pag-IBIG Fund members save record-high P10.7B in MP2 Savings in Jan-May 2021, up 109%

UNTV News   •   June 23, 2021   •   1265

Pag-IBIG Fund members collectively saved P10.67 billion under the agency’s voluntary Modified Pag-IBIG 2 Savings program in the first five months of the year, setting another record-high despite the ongoing health crisis, top officials of the agency said on Monday (June 21).

“We are happy to report that despite the impact of the pandemic to our economy, the amount saved by our members in the MP2 Savings from January to May of this year has reached P10.67 billion. This amount is a record-high for any January to May period in our history and hence, speaks highly of the trust that our members have in Pag-IBIG Fund,” said Secretary Eduardo D. del Rosario of the Department of Human Settlements and Urban Development and Chairperson of the 11-member Pag-IBIG Fund Board of Trustees.

We would like to assure our members that we will continue to safeguard their savings and do our best to gain the best possible return for every hard-earned peso they save with us. This will also go a long way in helping us serve more members by providing funds for their cash loans and home loans, all in line with President Rodrigo Roa Duterte’s directive to help uplift the lives of more Filipinos especially during these difficult times,” he added.

The MP2 Savings is Pag-IBIG Fund’s voluntary savings program that has a 5-year maturity period and a minimum savings requirement of only P500. Made available to members in 2010, the MP2 Savings has seen phenomenal growth over the last 5 years due to the program’s consistently high dividends. In 2020, amid the pandemic-induced economic slowdown, the program still posted a 6.12% annual dividend rate.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti cited the MP2 Savings’ remarkable growth, noting that even in midst of the pandemic, more members continue to save in the program.

“It was only in 2017 when collections from our MP2 Savings surpassed the P1 billion-mark, which was then a historic feat. By the end of 2020, in a span of just three years, MP2 Savings reached a record-high P13.28 billion, surpassing the previous high of P12.01 billion saved by our members in 2019 – an 11% growth,” said Moti.

“This year, despite the ongoing health crisis, MP2 Savings continue to increase as collections in January to May are up by 109% compared to the same period last year. In fact, the amount of MP2 Savings collected in the first five months of 2021 is already equivalent to 80% of the P13.3 billion saved in MP2 for the entire year of 2020. We thank our members for their continued support and enduring trust that despite the challenging times, they opt to save voluntarily in our MP2 Savings Program,” he added.

Members save record-high P52.5 B in Pag-IBIG Fund in Jan-Oct, up 35%; MP2 Savings breach P21 B, up 110%

UNTV News   •   December 6, 2021

 

MANILA, Philippines — Pag-IBIG Fund members have saved more than P52 billion in the last 10 months, breaking yet another record for the period and exceeding full year figures from before the pandemic, top agency officials announced on November 24.

From January to October, the amount collectively saved by members with the agency totaled P52.47 billion – the highest for any 10-month period.

The savings collected so far this year grew 35% from the same period in 2020 and 26% higher compared to figures from 2019, which is the agency’s best performing year yet.

“Even during these challenging times, we are happy to see that members are still keen on growing their savings with Pag-IBIG Fund. With the amount of savings increasing by P13.66 billion compared to last year and P10.81 billion compared to our best year in 2019, these numbers clearly show that Pag-IBIG Fund has already recovered from the effects of the pandemic,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11- member Pag-IBIG Fund Board of Trustees.

“In fact, the P52 billion savings collected as of October this year already exceeds the amount of savings collected for the whole 12 months in all previous years. With more savings, Pag-IBIG now has more funds for its programs to help more members in the coming months and even years. This is our contribution to the recovery of the nation, which is being led by President Duterte,” he added.

Driving the growth is the agency’s voluntary savings program, the Modified Pag-IBIG 2 or MP2, according to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti. He said that in the last 10 months, MP2 savings amounted to a record-breaking P 21.43 billion or 41% of the total savings collected for the period.

“We have seen the dramatic increase in MP2 in the last five years. In fact, the MP2 is the only figure that did not show signs of slowing down, and even grew during the pandemic. But the growth in 2021 is truly remarkable,” said Moti.

“The P21.43 billion MP2 savings as of October is more than double the P10.21 billion collected in the same period last year and is already P8.16 billion more than the P13.27 billion collected for the whole 2020. To put it into another perspective, MP2 has grown so much this year that savings as of October is higher than the total amount collected from 2012 to 2019 combined!” he further said.

The agency added that the increase in purely voluntary savings corroborates the results of the 2021 Philippine Trust Index that ranked Pag-IBIG Fund as the most trusted GOCC.

“We thank our members for their continued trust in Pag-IBIG Fund and in choosing to rely on us to grow their hard-earned savings. We still have a few more weeks before we end the year, and with numbers such as these, I am optimistic that 2021 will be another milestone year and the start of another wave of ‘best year evers’ as we help even more members securely save for their future goals,” said Moti.

Pag-IBIG Fund is most trusted GOCC in 2021 Philippine Trust Index

UNTV News   •   December 1, 2021

 

MANILA, Philippines — Pag-IBIG Fund is the most-trusted government-run corporation according to a nationwide trust survey of key institutions in the Philippines.

This is according to the 2021 Philippine Trust Index (PTI), a nationwide survey by the EON Group that cuts across backgrounds to measure Filipinos’ trust in the government, the business sector, the media, non-governmental organizations, the Church, and the academe.

“We are truly honored to be included in the list of most trusted government agencies. The latest results of the Philippine Trust Index and our 9th straight unmodified opinion from COA show that we have fulfilled our duties during the pandemic while still maintaining the highest standards of transparency and integrity in our work. This is aligned with President Duterte’s vision of clean government with heart for service,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

The 2021 PTI noted that “in terms of government agencies, departments that got the highest trust are those whose functions require them to remain engaged with the public, even during the pandemic such as online learning, finance regulation, loan assistance and aid distribution.”

The Department of Education earned the highest trust rating of 91% followed by Pag-IBIG Fund at 89% – the highest among GOCCs on the list.

“On behalf of all Lingkod Pag-IBIG, thank you for your trust, our dear members! As you know, we never stopped providing service even during the lockdown and community quarantines. Instead, we improved our digital assets so you can continue transacting with us online,” Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said.

“We have proven that during this health crisis, you can always count on our Lingkod Pag-IBIG brand of service. And, while we have previously received awards and recognition, we are even more grateful that it is the public itself, the people we serve, that ranked us as the most trustworthy GOCC in the country for 2021,” he added.

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Pag-IBIG Fund releases record-high P65.48B home loans in Jan-Sept 2021; up 80%

UNTV News   •   November 9, 2021

Pag-IBIG Fund again surpassed its own record amid the ongoing pandemic by releasing more than P65 billion in home loans in the last nine months, agency officials announced on Friday (Nov. 5).

From January to September, the agency released home loans worth P65.48 billion, which is the highest amount ever released compared to any previous nine-month period. Compared to recent years, the amount disbursed so far this year grew 80% from the P36.43 billion released during the same period in 2020 and is 11.5% higher than the P58.73 billion released in the same period in 2019, which is the Fund’s best performing year.

“Even as the country continues to face the challenges posed by pandemic, Pag-IBIG Fund was able to set a new record in terms of housing loan takeouts by the end of the third quarter.

This means that more and more Filipino workers are becoming homeowners which is good news as this growth contributes to the economic recovery efforts of the government led by President Rodrigo Duterte,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti noted that the amount released as of September financed the acquisition of 77% more homes this year – totaling so far to 63,765 units for its members.

He added that out of the P65.48 billion released, over P6.71 billion went to finance the acquisition of 15,456 socialized housing units for the minimum wage and low-income sectors and that these socialized housing units make
up more than 24% of the entire number of homes financed from January to September.

“We have one more quarter left before 2021 ends and judging by our home loan releases in the previous three quarters, I am confident of achieving another banner year. So far, our average monthly home loan releases
hovers around P7 billion. It even peaked at over P9 billion in June,” said Moti.

“In the third quarter alone, our home loan releases amounted to P21.14 billion. If this trend holds, home loan releases by the end of the year will likely breach the P90 billion mark and may even reach P100 billion. This shows the grit and resilience of Pag-IBIG to serve our members no matter the circumstance,” he added.

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