Pag-IBIG collections up to P67B in Q3 as more members increase savings

Pag-IBIG Fund members collectively saved P66.73 billion during the first nine
months of 2023, up by P6.3 billion or 10% year-on-year, as more members
contributed more than the required Pag-IBIG monthly savings, agency officials
announced Monday (23 Oct).

“We are happy that more Filipino workers are saving with Pag-IBIG Fund. The trust and
confidence in our savings programs continue to grow as proven by our record-high
members’ savings collections in January to September 2023. This is good news because the
increase in the savings collected shall allow us to finance the increasing demand for our
home loans and short-term loans, and thus allow us to serve more members. This is in line
with the directive of President Marcos to provide financial access to better the future of
every Filipino,” 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.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, noted that
the collections from the agency’s mandatory Regular Savings and voluntary MP2
Savings both increased during the period and have posted new record-highs.

Collections from the Pag-IBIG Regular Savings amounted to P31.6 billion, an
increase of 7% from the P29.6 billion from the same period last year. The amount
includes P7.69 billion in upgraded savings from members, or savings which
members have voluntarily entrusted with Pag-IBIG Fund on top of the required
monthly savings. The agency’s MP2 Savings, on the other hand, sustained its
popularity as collections reached P35.13 billion, a 14% increase from the P30.81
billion collected as of September last year.

“The record-high in members’ savings we collected from January to September this year
shows the wider appreciation of our members on the benefits of saving with Pag-IBIG
Fund. We are grateful that the biggest growth areas in our savings collections come from
our voluntary MP2 Savings and from members who save more than their mandated
monthly savings,” Acosta said.

“We recognize that our members’ trust in our programs stems from how we have gained
competitive returns on their savings over the past many years. We highly value that trust and that is why we assure them that we shall continue to prudently manage their hard-
earned savings. That is the Lingkod Pag-IBIG way,” Acosta added.

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