Pag-IBIG Fund members have saved more than P66 billion in the last 10 months, breaking yet another record for the period and exceeding all prior full year figures, top agency officials announced last Nov. 14.
From January to October, the amount collectively saved by members with the agency totaled P66.66 billion – the highest for any 10-month period. The savings collected so far this year grew 27% from the same period in 2021 and has surpassed all full year figures in the agency’s history including last year, when it collected P63.67 billion, Pag-IBIG Fund’s best performing year yet.
“Pag-IBIG Fund has again set another record-high, this time in its members savings collections. It speaks well of the trust that our members and stakeholders have in our capability to manage their savings excellently and prudently. With more funds, Pag-IBIG remains in a strong position to finance its programs, particularly its home loans, while keeping interest rates on its loans low. All these are part of our efforts in support of President Ferdinand Marcos Jr.’s call for providing a better life for all Filipinos,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.
Continuing to drive the growth of its members’ savings is the agency’s voluntary savings program, the Modified Pag-IBIG 2 or MP2 Savings. In the last 10 months, MP2 Savings amounted to a record-breaking P 33.72 billion or 51% of the total savings collected by the agency during the period.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, noted that the MP2 Savings continues to display remarkable growth, as it posted a 57% increase from the P21.43 billion collected during the same period last year.
“The dramatic growth of our MP2 Savings started in 2016, when collections first breached the P1-billion level. We are happy to note that this year is even more remarkable as the P33.72 billion collectively saved by our members during the first 10 months of the year has already well surpassed the entire year’s record-high collection of P25.95 billion in 2021. We thank our members for their continued trust in Pag-IBIG Fund. And, with only a few weeks remaining before the year ends, we assure our members that we are doing all that we can to provide them the best return rates on every hard-earned peso they have saved with us. That is our way of providing them Tapat na Serbisyo, Mula sa Puso,” Acosta added.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
Join us on Viber to get more updates from BusinessWorld: https://bit.ly/3hv6bLA.