LAOAG CITY, July 6 (PIA) – The Pag-IBIG Fund in Ilocos Norte has urged the public to invest and make their hard-earned money accumulate a higher dividend under the Modified Pag-Ibig 2 (MP2) investment program.
Pag-IBIG Fund Marketing Staff Mark Ryan Namnama said that the program is now open for investment to all its members who are currently enrolled in Pag-IBIG Fund 1 program.
“With a higher return of dividend, this is a better option to all who want to invest with a five-year maturity period,” Namnama said.
The MP2 has a minimum dividend rate of 4.5 percent while the Pag-IBIG 1 has a 4 percent dividend rate.
“Last year, we incurred 7.43 percent accumulated interest for the MP2,” said Namnama.
MP2 is a voluntary program which is an additional program under Pag-IBIG 1. Any amount in five years is the declared contribution of every member in MP2 that can be paid over the counter or through salary deduction.
It is a saving scheme which gives chances to the members of Pag-IBIG 1 who are earning a higher dividend from their savings within five years.
The program is only open for those who are mandatorily covered under the membership of Pag-IBIG 1 or a regular member who is earning more than five thousand a month.
OFW-members can also avail of the said program.
According to Namnama, a minimum of 500 pesos per month or the member can contribute higher according to his desire.
The program has the following additional features:
- MP2 accumulates dividend every year which is .5% higher than the dividend in Pag-IBIG 1.
- Member’s saving with its dividend is tax free and guaranteed by the government.
- A member can withdraw his/her savings with its dividend after five years which is considered to be the membership maturity.
- Savings can also be withdrawing before the end of five years if the member has been removed from work because of sickness, became completely disabled or insane, and if he/she passed away.
- A member’s saving will still continue to earn dividend within two years after its maturity but it will be based upon the rate that was declared under the Pag-IBIG.
- Within two years after its maturity, a member’s saving will not earn a dividend anymore, but he/she can renew his/her membership in MP2 right after five years.
Namnama said for more inquiries, members who are interested to upgrade their investment can visit their office in Laoag City. (JNPD/CJDG/PIA1-Ilocos Norte)