If you're considering enhancing your financial stability through a reliable savings program, the Pag-IBIG MP2 (Modified Pag-IBIG II) program is a great option. This program offers higher dividend rates compared to the regular Pag-IBIG I program, with flexible payout options and a clear five-year term. To enroll, you'll need to complete and submit the HQP-PFF-226 (V06, 11/2023) - Modified Pag-IBIG II Enrollment Form (MP2EF).
In this blog post, we’ll guide you through the form, its requirements, and the key terms and conditions.
What is the MP2 Program?
The Pag-IBIG MP2 program is a voluntary savings scheme available to:
- Active Pag-IBIG I members
- Former Pag-IBIG I members with a source of income or pension
- Former natural-born Filipinos who reacquired citizenship under R.A. 9225
This program is tailored for members looking to grow their savings, offering higher dividend rates than the mandatory Pag-IBIG I savings program.
How to Download and Fill Out the MP2 Enrollment Form
You can download the HQP-PFF-226 (V06, 11/2023) form directly from the Pag-IBIG website or obtain it from any Pag-IBIG branch. Here’s what to keep in mind when filling it out:
Personal Details
- Provide your full name, birthdate, and complete address in BLOCK or CAPITAL LETTERS.
- Indicate your membership classification, whether you're an active Pag-IBIG I member, pensioner, or former Filipino citizen.
Employer/Business Information (if applicable)
- Include your employer or business name and address if you're employed or self-employed.
Contact Details
- Make sure to provide an up-to-date cell phone number, email address, and telephone number.
Desired Monthly Savings
- You can specify the amount you'd like to contribute monthly (minimum: PHP 500).
- Choose your mode of payment (e.g., salary deduction, over-the-counter, or via Pag-IBIG collecting partners).
Preferred Dividend Payout
- Decide whether you’d like to receive dividends annually or after five years (compounded).
Checklist of Requirements
When submitting your completed MP2 Enrollment Form, ensure you have the following documents:
Basic Requirements:
- MP2 Enrollment Form (HQP-PFF-226) - 1 Original
- Valid ID - 1 Photocopy
Additional Requirements (if applicable):
- Philippine Passport for former natural-born Filipinos
- Certificate of Reacquisition/Retention of Philippine Citizenship under R.A. 9225
- Proof of income/source of funds such as payslips, bank statements, contracts of sale, or audited financial statements depending on your income source.
Key Terms and Conditions
- Voluntary Membership: Open to eligible individuals regardless of income.
- Minimum Savings: Contributions start at PHP 500, with higher payments requiring proof of income for amounts exceeding PHP 100,000.
- Flexible Dividends: MP2 savings earn dividends at rates higher than Pag-IBIG I, declared annually by the Board of Trustees.
- Five-Year Term: Savings are locked for five years. Members can either withdraw upon maturity or re-enroll in the program.
- Early Withdrawal: Pre-termination is allowed under certain conditions (e.g., disability, retirement, or critical illness) with reduced dividends.
Why Choose the Pag-IBIG MP2 Program?
This program is ideal for individuals looking to earn more from their savings without complex investment risks. With flexible payment options, tax-free earnings, and government backing, the MP2 program is a secure and rewarding way to grow your wealth.
Ready to Enroll?
Download the HQP-PFF-226 (V06, 11/2023) Modified Pag-IBIG II Enrollment Form and start your journey to financial security today. For further assistance, visit your nearest Pag-IBIG branch or their official website.