My answer is a resounding YES!
Pag-IBIG MP2 is a very good investment for Overseas Filipino Workers (OFWs). I will tell you why in this article.
I have relatives myself who are OFWs and I recommend Pag-IBIG MP2 to them as a very effective way to save money, earn dividends, and in the long term accumulate wealth.
FACT: As of 2021, 78,850 OFW members voluntarily saved under Pag-IBIG Fund’s Modified Pag-IBIG 2 (MP2) Savings Program, where they earned 6% in dividend returns for the year, according to the Pag-IBIG Fund.
That figure alone already convinces me that Pag-IBIG MP2 is a promising investment for OFWs.
Having so many OFWs who are already investing in Pag-IBIG MP2, it must indeed be a profitable investment.
But to support that even more, here are some of the incredible reasons why Pag-IBIG MP2 is a very good investment for OFWs:
OFWs can invest in Pag-IBIG MP2 for as low as P500 per month
Pag-IBIG MP2 is a 5-year maturity savings program where OFWs can save for as low as P500.00 per month. OFWs don’t have to have a hefty amount of money before they can start saving and earning money through dividends.
It is very easy and convenient to open a savings account and remit savings in Pag-IBIG MP2 (it can be done online, even if you are abroad!)
That’s right. You can open a savings account anywhere in the world where you have access to the Pag-IBIG Fund website. In fact, you can open a savings account right now through this link. That’s how easy it is.
There is no limit as to the amount of money which OFWs can invest in Pag-IBIG MP2
That’s true too. Aside from a very low minimum monthly contribution of P500.00 per month, OFWs can save as much as they can in Pag-IBIG MP2. There is no limit as to the amount of money OFWs can invest which likewise give them the opportunity to earn more.
OFWs can use Pag-IBIG MP2 to accumulate long term wealth like retirement, education of their children, family savings for future plans, etc.
Pag-IBIG MP2 is very effective when it comes to accumulation of wealth. Unlike saving money in the bank, where interest is so close to nothing (due to inflation), Pag-IBIG MP2 is suitable for OFWs who want to save money for the future of their children, family, or for themselves.
OFWs can view their savings and dividends online via the Virtual Pag-IBIG which is available via the Virtual Pag-IBIG portal and Virtual Pag-IBIG apps (Android or IOS)
Gone are the days where OFWs have to go to Pag-IBIG Fund Office to inquire about their savings or contributions. Now, with the help of advance technology, OFWs can view anywhere and anytime in the world where there is access to the internet their actual savings (MP1 and MP2, or even their housing loan) through the Virtual Pag-IBIG.
The Virtual Pag-IBIG can now be accessed through the following modes: thru Pag-IBIG Fund website, Google Playstore, and Apple Apps Store.
Pag-IBIG MP2 is a very safe investment because it’s guaranteed by the Philippine government
It’s true, the higher the risk, the higher the return. This is also true with Pag-IBIG MP2, except that it is guaranteed by the Philippine government.
What does this mean? It means that, your savings is safe because whatever happens in the economy it will be given back to you by the Philippine government in full, 100%, unless there’s a law that contradicts it otherwise,
This is not the case with other investment type where you could lose some or all of your money.
On the other hand though, your dividend income will vary from year to year depending on the financial performance of Pag-IBIG Fund which is affected by economic disturbances.
The dividend income earned from Pag-IBIG MP2 is tax-free
Unlike other investments like stocks, mutual funds, business income, etc., where earnings from them are taxed by the Bureau of Internal Revenue, the dividend earned by OFWs from Pag-IBIG MP2 is tax-free.
That’s right. Pag-IBIG MP2 is not tax by the BIR. Hence, more money earned by the investors especially wheb they know the golden rule of money.
OFWs can earn more money because of the dividends they can receive from Pag-IBIG MP2
Finally, this is what makes Pag-IBIG MP2 a good investment. It gives OFWs dividends.
Dividend is simply the share of OFWs from the income of Pag-IBIG Fund due to their savings in Pag-IBIG MP2.
In simple Filipino term, dividend is like the interest of your money saved in Pag-IBIG MP2. This is around 6% to 7% average annually in the last five years.
Final word
Again, I am convinced that Pag-IBIG MP2 is a good investment for OFWs because I have proven it myself, it is a good savings program and a good source of passive income. I know because I am also investing in Pag-IBIG MP2.
If you want to [L]earn more about how I save and earn money from Pag-IBIG MP2, read the following articles.
And if you want to know if Pag-IBIG MP2 can make you a millionaire, read this article.
How about you?
If you are reading my articles, you must probably be like me who are constantly trying new things to become richer even more. I am excited to learn how you do it. Please leave me a message in the comments section below.
