All Your Pag-IBIG MP2 Questions Answered

Are you a Pag-IBIG member? Are you looking to build up some savings? If you answer yes to these two questions, the Modified Pag-IBIG 2 (MP2) program will help you achieve this goal. You can also apply to this savings program even if you are currently working in Qatar.

ALSO READ: 10 Ways for OFWs to Start Saving

The MP2 program is different from the government-mandated contribution that you pay monthly. Also, enrolling in this initiative is purely voluntary.

grow your savings

Pag-IBIG Savings Program

The monthly contribution you remit to Pag-IBIG goes to the Regular Savings Program. Upon maturing, you can withdraw your contribution.

On the other hand, the MP2 offers you more opportunities to save. The savings program has a higher interest rate. It matures after five years.

Frequently Asked Questions

The YouTube video of Charm de Leon discusses the members’ questions about the MP2 program. This post highlights information that helps you understand the program better. Keep on reading to give you more ideas.

Application to MP2

  • Can students apply for MP2?

If you are below 18 years old, you cannot apply yet. Meanwhile, students who are 18 years old and older can register as voluntary members. You can apply online or go to the nearest Pag-IBIG branch near you. Once you are a registered member, you can inquire about MP2.

  • Can OFWs apply for MP2?

Yes, you can apply for MP2. If you currently in your host country, you can apply online. If you prefer to do it in person, go to the nearest Philippine embassy to fill out application forms.

  • When is the best time to apply for MP2?

You can do this anytime of the year. Whenever it is convenient for you is the right time.

  • How long does the MP2 account activation take?

There is no set time. Some applications were approved in a matter of hours, and some waited about two months for approval. You will receive a text message from Pag-IBIG to inform you of the approval.

Contributions to MP2

  • When should I remit my contributions?

You can remit your contribution anytime, either monthly or twice a month. If you prefer, you can even remit your payment only once during the five years. If you want to skip paying contributions now and then, it’s also acceptable.

  • Do I stop paying my regular Pag-IBIG contributions when I start the MP2 account?

It is not recommended that you stop paying for your regular contribution, but you can do it if you prefer. However, it would be better to continue the regular contribution so you can grow your savings more.

  • How to remit my contribution?

You can do this in several ways: salary deduction, over-the-counter payment at Pag-IBIG branches, payment centers, bank payment, credit card, debit card, GCash, Paymaya, and Remitly. For those based abroad, you can pay through PNB and AUB.

If you cannot go to the branch, you might want to use digital payment schemes. It is recommended to use either GCash or Paymaya because the transaction fee is only Php 5.

  • Are there hidden fees?

There are no hidden fees. The amount that you see in your Virtual Pag-IBIG account is what you will get. The amount is also tax-free.

  • When does the 5-year maturity start?

The period will start with your first contribution. Even if you start on a particular month and there is no payment, your account will not begin.

Of course, you are not forced to immediately remit your contribution when you open your account.

  • Is there an app to let me see my total contribution?

You can use a web app for this. Visit to start.

Payout of MP2

  • Is it better to receive the payout annually or during maturity?

It is recommended to keep your money until maturity. This will enable you to save some more if you keep your money in your MP2 account.

  • When can I get the dividend if I choose the annual payout?

You can get your payout during the first quarter of the next year.

  • What are the payout options?

When it’s time to collect your payout, you can receive it through any of these channels: Pag-IBIG Loyalty card, bank account, or check payment.

If you don’t have a loyalty card yet, you can apply for one for only Php 125 at any Pag-IBIG branch. If you prefer to receive the payout through your bank account, you can do so if you have a DBP or Landbank account.

For the check payment option, you can claim it at the Pag-IBIG branch. When you are based overseas, you can still claim your check at the embassy.

  • What are the requirements to claim the payout?

Fill out the Provident Benefit Claims form and bring a valid ID. Pag-IBIG will process your request in two to four weeks. You can expect your payment after that period.

Early Withdrawal Of Savings

  • Can I withdraw my MP2 savings before the 5-year maturity?

Pag-IBIG allows withdrawal of savings, but for valid reasons. You will still have to get approval for this. You will get your principal savings, but the interest you will get will depend on your case.

This is why it’s never a good idea to put your emergency funds in the MP2 program.

You can watch the full video here:

It is a good idea to save as much as you can. If you don’t have an MP2 account yet, you could consider starting one. You can compare experiences with other people. You can also check the Pag-IBIG website to get more information.

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