Pag-IBIG member savings hit record P80 billion in 2022
INQUIRER FILE PHOTO
MANILA Philippines — Home Mutual Development Fund, or Pag-IBIG, attained a record-high P80 billion in member savings collection in 2022, cementing its better fiscal position.
Pag-IBIG Department Manager for Public and Media Affairs Jack Jacinto said this amount is 25% higher than 2021’s member savings collection of P63.7 billion.
Jacinto cited the country’s economic recovery as the main factor in the rise in savings collection because it allowed more members to pay their contributions.
‘’Malaking bagay po ‘yan, ‘yung patuloy na pagbangon ng ating ekonomiya, sapagkat dumadami po yung miyembrong naghuhulog sa pag-ibig fund at marami po sa ating mga kababayan ang balik na po sa kanilang mga trabaho,’’ he said in a public briefing.
(That’s a big thing, the continuous economic recovery because more and more members are now paying their contributions to Pag-IBIG as most of them are working again)
READ: Members save a record-high P63.7 billion in Pag-IBIG Fund in 2021
The agency’s Modified Pag-IBIG 2 (MP2) program accounted for more than half of the collected savings as it also set a high record, amounting to P38.85 billion — a 54% increase from P25.95 billion in 2021.
‘’Ikinatutuwa rin po namin sapagkat hindi lamang pong tumaas ‘yung halaga ng inipon ng ating mga miyembro sa programang ito, kundi dumami rin, dumami rin po ang naghuhulog sa MP2 savings program. Mula around 600 thousand members, halos isang milyon na po ang kasapi sa programang ito,’’ the Pag-IBIG official added.
(We are also happy because not only did the amount saved by our members in this program increase, but also the number of members contributing to the MP2 savings program increased. From around 600,000 members, there are now almost a million members in this program.)
READ: Pag-IBIG members save record-high P38.82B in H1 2022, up 23%; MP2 surges to P19.40B up 47%
The official also said that the incremental growth in savings in 2022 likewise shows members’ growing trust and confidence with Pag-IBIG.
Currently, Pag-IBIG has 15.4 million active members. —Vance B. Chan, trainee
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