May Pangalawang Pag-IBIG ka na ba?

A sensitive yet intriguing question especially if ones’s ultimate concern is on financial investment - the most common concern of people nowadays. Kaya ang tanong na, "Meron ka na bang pangalawang Pag-IBIG?" Masasagot mo ba ngayon?

​Nowadays, many Filipinos are interested in looking for safe avenues to invest their hard earned money. While a lot would suggest the stock market or a mutual fund other conservative investors would recommend time deposit in a bank. Pero wala masyadong nakakaalam tungkol sa pagkakaroon ng "Pangalawang Pag-IBIG" kung saan pwede kang mag invest. 

​Ang Pag-IBIG Fund ay may isang magandang programa na matagal ng hindi napapansin ng mga Filipinos. For the information of everyone, the Modified Pag-IBIG II (MP2) Program is an additional and voluntary five (5) year savings facility being offered by HDMF to its Pag-IBIG I members that will provide them with a yield higher than their Pag-IBIG I membership. The Fund does not provide any limit on the number of accounts that may be enrolled and maintained under this program by any Pag-IBIG I member. 

Pag-ibig II (MP2) is voluntary.  You can be an MP2 member whether you’re a land-based OFW, seaman, employee, self-employed or business owner.

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​MP2 or Pag-IBIG II is an alternative way of saving your hard earned money by getting higher interest rates compared to a regular time deposit that you can get from the banks. And the best thing here is that it is 100% TAX-FREE! No TAX at all. 

The total accumulated value (TAV) will not be charged with 20% withholding tax as compared to savings and time deposit accounts in banks. RA 9679 or the  “Home Development Mutual Fund Law of 2009 as stated in its Rule IX, Section 12:

  “Pag-IBIG Contributions are Excluded from the Computation of the Gross Income. 
       Pursuant to Section 32 (B) (7) (f) of the National Internal Revenue Code of 1997, 
       as amended, Pag-IBIG Contributions are excluded from the computation of the 
       gross income and shall be exempt from taxation.”

​In addition, walang limit ang amount to be deposited. With a minimum monthly deposit of Php500.00, you can start with your Modified Pag-IBIG II or MP2. The said program covers a 5-year term. This also means that you cannot withdraw the money that you have deposited in MP2 until you have finished the 5-year term with the program. At the end of the term, you have the option to renew it for another 5 years. 

For more details, kindly check the MP2 program below. 

Source: www.pagibigfund.gov.ph

​So, meron ka na bang Pangalawang Pag-IBIG? I bet you will consider having Pag-IBIG II (MP2) and give yourself the chance to grow your money in the right direction. It’s not yet too late. Just remember when you open an MP2 account with Pag-IBIG Fund, set a specific financial goal where you intend to use the money after 5 years. Or better yet, you can reinvest it again in MP2 and let it grow again. Plain and simple.

You can set it for your retirement fund or educational fund. MP2 savings will provide a good investment vehicle that will provide you good benefits in the future. 

Build the plan, then work the plan. Don't just invest.
Invest with a SOLID PURPOSE. 

"A dream written down with a date, becomes a GOAL. 
A goal broken down into STEPS, becomes a PLAN.
A plan backed by ACTION makes your
dreams come true."   
                                                  - Lorenzo Medici

Zell has an MA in Counseling Psychology from the Ateneo  de Manila University. He is a Registered Financial Planner (RFP) and a  founding member of the Psychological Empowerment to Resources and Aspirations (PERA) Inc. which focuses on the promotion of  Financial EQ to Filipinos locally and abroad.