Guide on Pag-IBIG MP2 Savings Withdrawal Cases
PAG-IBIG MP2 SAVINGS – There are specific cases wherein the Fund may allow the member to withdraw the savings prior to the 5-year maturity.
Are you one of those who are interested on the savings facility offered by the Pag-IBIG Fund? It can be another way that you get to grow your money while safekeeping it. However, there might be some questions that are stopping you from making more savings.
Aside from the Pag-IBIG Fund loans, members of the Fund may now grow their money through the MP2 Savings program. If your worry is that you might not be able to have an access to your savings when an emergency happens, there are actually conditions that are considered if you want to withdraw your savings prior to their 5th year.
The Pag-IBIG Fund has set conditions for the withdraw of the savings among the active Pag-IBIG members, retirees, pensioners, members with compounded dividend payout on their MP2 Savings, and MP2 Savings with annual dividend payouts.
The conditions among the members who save under the Pag-IBIG MP2 Savings with regards to withdrawing the funds vary. Here’s a guide?
Active Pag-IBIG Members
- Total disability or insanity
- Termination from employment due to health reasons
- Retirement
- Permanent migration to another country
- Unemployment due to layoff or company closure
- OFW repatriation from the host country
- Death of the MP2 account holder, with the MP2 Savings to be received by the member’s beneficiaries
- Critical illness of the MP2 account holder or an immediate family member, certified
- Other meritorious grounds as may be approved by the Pag-IBIG Fund Board of Trustees
Retirees and/or Pensioners
- Total disability or insanity
- Death of the MP2 account holder, with the MP2 Savings to be received by the member’s beneficiaries
- Critical illness of the MP2 account holder or an immediate family member, certified by a licensed physician, and subject to approval by Pag-IBIG Fund
- Other meritorious grounds as may be approved by the Pag-IBIG Fund Board of Trustees
Members with compounded dividend payout on their MP2 Savings
- Principal MP2 Savings;
- 50% of the total dividends earned from prior years; and
- 50% of the dividends for the current year, which shall be released after the dividends for the said year have been declared and credited.
MP2 Savings with annual dividend payouts
- Principal MP2 Savings, with 50% of the total dividends received from prior years to be deducted from proceeds; and
- 50% of the dividends for the current year, which shall be released after the dividends for the said year have been declared and credited.
Are you interested to begin growing your money? There are easy steps on how to open a Pag-IBIG MP2 Savings account.