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Opening my Pag-IBIG MP2 account

3 27 exc
Avatar for Manoy-Maestro
Written by
5 months ago

Browsing through r/phinvest subreddit, I learned about this relatively safe savings opportunity perfect for low-risk investors - the Pag-IBIG MP2 voluntary savings.

So what enticed me to create an MP2 account?

  • easy to enroll online since I already have an existing Pag-IBIG account created by my employer

  • government-guaranteed

  • tax-free

  • high dividend rate for a low-risk investment

  • flexible saving, i.e. no required monthly deposit

This made me realize that it might be better to deposit some of my savings to MP2 than let them all sit in the bank. I'm still afraid and not knowledgeable enough to dabble into stocks and other aggressive investments so I thought MP2 would suit me.

Screenshot from

I created an MP2 account in the enrollment portal on the Pag-IBIG website. The Pag-IBIG MID number, last name, first name, and birthdate are initially needed then I had to fill out a form. The process was relatively easy since I already have a P1 account created by my employer.

After a few days, I went to a Pag-IBIG branch to confirm my enrollment. I also thought I had to submit a printed copy of the filled-out MP2 form, but the employee at the Pag-IBIG office said that there was no need for that (nasayang lang oras pagpila 😅). The employee, however, suggested I create a Virtual Pag-IBIG account to conveniently monitor my savings. Account creation is very straightforward through this link. I did not create a Loyalty Card Plus since I only wanted to monitor my savings online; though it seems promising with its convenience and a multitude of discounts and rewards (let me know what you think hehe).

Upon activation of my online account, I immediately made a deposit to MP2. I wanted to deposit a lump sum of ₱50,000 which I will withdraw upon 5-year maturity to maximize the compounded dividend interest. I opted to deposit via GCash for its convenience and low fees (₱5 per transaction).

Fifty thousand is a very large amount for me for an online transaction so I decided to test first if there would be no problem transferring from GCash to Pag-IBIG. I first deposited ₱500 to convince myself that there would be no issues, and then ₱49,500.

26 May 2021 (Wed). I sent ₱500 (which is the minimum deposit for MP2) just to test the waters.

28 May 2021 (Fri). The ₱500 deposit is now reflected on the Virtual Pag-IBIG account. Transferring from GCash to MP2 works! 🥳

29 May 2021 (Sat). I deposited ₱49,500 to MP2 to complete the ₱50,000 lump sum.

June 2021 (around the first week). The ₱49,500 deposit is now reflected on the Virtual Pag-IBIG account together with the initial ₱500.

The amount transferred does not reflect immediately to the Virtual Pag-IBIG account. I was worried at first that the transaction was unsuccessful, but it turns out that it takes about 2 working days to weeks before the deposit appears in the virtual account. Note that you have to input the MP2 account number in GCash so I was really nervous that I encoded the wrong account number and I might lose the money 😬 . I had to double-check and triple-check the account number when I sent the deposit to MP2.

Now I just have to let my money sit and grow. The dividend rate for 2021 will be announced next year so hopefully, the rate will be as favorable as in the previous years or even better.

Thank you for reading!

You may also check out my account for more dose of random.

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Avatar for Manoy-Maestro
Written by
5 months ago
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Nababadtrip ako diyan sa PAG-IBIG though. Yung email customer service nila di na maganda like before. Jusmio ilang buwan na ako nagpapa-consolidate online, since Feb pa, hanggang ngayon wala pa rin nangyayari. Kakairita na nga di tuloy ako maka-open ng MP2. Tsk.

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4 months ago

di ko pa na-try nag-email sa kanila. sana naman tumino pag-respond nila sa email (this also applies to most gov't offices haha)

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4 months ago

Wish ko lang tlga.

$ 0.00
4 months ago