Pag-IBIG Members save record-high P28.75B in Q1 2024, up 36%; MP2 Savings reach P15.56B, up 48%

In the first quarter of 2024, Pag-IBIG Fund members collectively saved a
record P28.75 billion, setting the highest amount ever saved in the
agency’s history during a first quarter, according to top officials. This
represents a 36% increase—roughly P7.66 billion more than the P21.09
billion saved during the same period in 2023.

Part of the total savings collections is the agency’s Pag-IBIG Regular
Savings, which saw a 25% increase from P10.58 billion in the first quarter
of 2023 to P13.19 billion this year.

“Our strong savings collections reflect the trust and confidence our
members place in us, along with our ability to prudently manage their
savings. Pag-IBIG Fund’s strong financial position enables it to offer low
interest rates and support the financing side of the Pambansang Pabahay
Para sa Pilipino (4PH) program, a flagship program of President
Ferdinand Marcos, Jr.,” 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.

In February, Pag-IBIG Fund implemented the new mandatory monthly
savings rates of P200 for both the employees and the employers’ share.
The increase was the first ever increase that Pag-IBIG Fund implemented
since it was established in 1986.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile,
noted that the agency’s popular MP2 Savings continues to drive the
growth of its members’ savings. The voluntary savings program
maintained its growth, with members saving a record-high P15.56 billion,
which accounted for 54% of the total savings collected in the quarter.

Acosta further highlighted the continued trust and confidence of their
members, as shown in the consecutive years of record-highs in savings

“With the implementation of the new mandatory monthly contribution
rates of P200 from both members and employers, Pag-IBIG members can
expect substantial savings in the future and access to higher cash loans.
Our goal remains the same – to maximize the growth of our members’
savings and keep home loan interest rates low”, Acosta said.

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