GStocks PH is now available on GCash – How to join?

April 22, 2023March 12, 2024 Kuya Well No Comments

Featured, Investment and Finance, Posts, Stocks, Tutorials

The GStocks PH feature of GInvest in GCash has started to roll out to users. It’s not available for all but you can check your GCash app and see if it’s available for you. Don’t get giddy just yet since you won’t be able to trade right away even if you can access the GStocks … Read More “GStocks PH is now available on GCash – How to join?” »

Why You Should Think Twice in Getting a VUL Policy

April 14, 2023September 18, 2023 Kuya Well No Comments

Featured, Posts

Variable Universal Life insurance (VUL) is a life insurance plus investment program rolled into one. That’s the easiest explanation that I can provide. If it’s still unclear to you, this insurance policy is offered the most by “financial agents” from Sun Life, Pru Life, Insular Life, and other companies with the word “Life” included in … Read More “Why You Should Think Twice in Getting a VUL Policy” »

How to create a Pag-IBIG MP2 account online

Are you ready to start saving but don’t know how to create a Pag-IBIG MP2 account? You’re in luck since this article will give you detailed step-by-step instructions on how to create your Pag-IBIG MP2 account online.

Before creating a Pag-IBIG MP2 account, ensure that you are eligible first.

Pag-IBIG Mp2 account eligibility

Active Pag-IBIG Fund members who have made at least one savings contribution within the past six months.
Former members who have already retired or are receiving a pension and have additional sources of monthly income. They must have made at least 24 monthly savings contributions prior to their retirement.
Individuals who were born Filipino (but have since become citizens of another country) and have reacquired their Filipino citizenship through the Citizenship Retention and Reacquisition Act of 2003, provided that they have made at least 24 monthly savings contributions before their permanent migration to another country.

Here are additional articles you can read about the voluntary savings program:

Steps on how to create a Pag-IBIG MP2 Account

1. Go to the Pag-IBIG MP2 Savings Enrollment page and fill out the required details:

Pag-IBIG MID number
Last Name
First Name
Date of Birth (mm/dd/yyyy)

2. The next page will show you your Pag-IBIG account details. Click the Continue button to proceed with the creation of your MP2 account.

3. The following page will ask you the following:

Desired monthly contribution – you can put in any amount as long as it’s 500 and above. Once you have created an MP2 account, you don’t really need to contribute on a monthly basis nor do you need to put the exact amount that you mentioned here.
Preferred dividend payout – It’s best to select “Five-Year” so that the dividends you earn get compounded. If you have the desire to withdraw your dividends on a yearly basis, then select “Annually”.
Mode of Payment – Just select “OTC” or “Thru any accredited Pag-IBIG collecting Partners”. But if you want your employer to deduct it from your salary, then select “Salary Deduction”.
Source of Funds – Just choose how you’re going to fund your MP2 account. You can simply select “Employment Income”.

4. You will be given a PDF file but if you notice, you’ll see your MP2 account number on that file. That is already a valid MP2 account number that you can use.

5. You can start your Pag-IBIG MP2 contribution right away using the MP2 account number you got. You can make the payment via the Virtual Pag-IBIG website. That way, you can also verify that the MP2 account number is correct.

However, if you opted for “Salary Deduction” and you really want your employer to deduct your Pag-IBIG contribution from your salary each month, then, you need to print the PDF file and give that to your company HR or Compensation and Benefits department. Take note that unless you advise them otherwise, they will deduct whatever amount you put in the “desired monthly contribution” from your monthly salary.

When will my MP2 account show up in Virtual Pag-IBIG?

Only active MP2 accounts (you have made at least 1 contribution) will appear in your Virtual Pag-IBIG account.
It may take 2-3 working days after making the initial contribution before your MP2 account gets reflected on the Virtual Pag-IBIG website.

How to enroll or invest in SSS WISP Plus

Do you want to invest in SSS WISP Plus but don’t know how to do so? The steps are actually easy and can be done through the SSS online portal.

Brief Background about the SSS WISP Plus program

WISP Plus is a voluntary savings program offered by the Social Security System. This is equivalent to Pag-IBIG’s MP2 program wherein you’ll earn higher dividends compared to the provident WISP program. The maturity period is also similar to that of MP2 since you can withdraw your savings after 5 years. You can read more about the WISP Plus program in this article.

Steps on how to enroll in WISP Plus

Step 1

Log in to your SSS online portal account. If you don’t have one yet, If you don’t have an SSS online account yet, you can follow our step-by-step guide to create your account.

Step 2

Go to the Services menu and select Enroll to WISP Plus. You will then be shown the WISP Plus Enrollment screen.

Step 3

Select the VIEW TERMS AND CONDITIONS link. You will get a pop-up screen providing you with the terms and conditions for the WISP Plus program.

Select the I Accept button.

Step 4

You’ll get a new prompt informing you that you have successfully enrolled in the WISP Plus program. Just click on the Close button.

Step 5

And that’s it! You are now enrolled in the SSS WISP Plus program. The Enrollment page should reflect the enrollment date.

And if you head over to the Inquiry > Contributions page, this is what you’ll see:

Take note that the WISP Plus Enrollment and WISP Plus Membership are blank currently. Once you’ve made your first contribution, it will be populated accordingly. The WISP Plus Enrollment is the date when you created your WISP Plus account while the WISP Plus Membership will reflect the date when you first made your contribution.

Here’s a sample:

Blogger’s Note

I enrolled in the WISP Plus program back on February 25 but only made the initial contribution on September 8 since my initial plan was to focus only on MP2 when it comes to the investment/savings programs offered by the government. However, after evaluating my finances, I found a way to squeeze in WISP Plus in my portfolio.

How to pay Pag-IBIG MP2 contribution through Virtual Pag-IBIG website

Paying your Pag-IBIG MP2 contribution can easily be done through the Virtual Pag-IBIG website. Here are the steps:

Step 1

Log in to your Virtual Pag-IBIG account. If you don’t have a Virtual Pag-IBIG account yet, you can create one by following the steps in this article.

Step 2

Once you’re logged in, select MP2 Savings under “Pay Online” on the left-side menu.

Step 3

Select your Membership Category.
Choose your payment method. You have the option to either pay your contribution using a Credit Card/Debit Card or using Maya/GCash (which includes QRPh). Note: the convenience fee for Maya/GCash/QRPh is only 5 pesos while for Credit/Debit Card it’s 1.75% of the actual amount you’re going to pay.
Input your MP2 Savings account number. If you don’t know what that is, you can find it under Products > MP2 Savings (Voluntary Savings) on the left-side menu.
Click Verify and that will automatically populate the first 5 rows below the button.
Although you can modify the “Period Covered From”, just leave it as is (as long as it’s showing the current month).
You can modify the amount shown in the “MP2 Savings (PHP)” with the actual amount you want to contribute as long as it’s not below the minimum contribution which is Php 500.
Click Next to proceed to the next page.

Step 4

Fill out your billing address and contact information
Enter the captcha code.
Put a checkmark on the box “I agree”, then click Next to continue.

Step 5

The next page is simply a summary of all the information you provided earlier. If everything’s correct, click “Proceed”. Else, click the back button to edit the information you previously provided.

Step 6

On the next page, what you will see depends on the payment method you chose earlier.

For credit card/debit card

Simply fill out your card details and click Complete Order.

For Maya/GCash

Select the specific e-Wallet you’d like to use.

If you choose Maya or QR Ph, this is what you’ll see:

You can scan the QR that will show up on your screen to proceed with the payment. Take note that this is not just for Maya alone, if your bank is partnered with QR Ph, you can pay using your bank instead of Maya.

If you choose GCash, this is what you’ll get instead:

Simply ensure that the mobile number is correct and then follow the payment processing steps. You will get a confirmation page at the end that you’ve completed the payment. In addition, depending on the payment method you selected, you may also get an SMS and email confirmation.

And that’s it! You’ve successfully made a contribution to your MP2 account.

Note: it will take 2-3 working days for the payment to be reflected in your Virtual Pag-IBIG account.

Earn 4% interest on deposits with GoTyme Bank

GoTyme Bank is a licensed digital bank in the Philippines, offering convenient banking services to Filipinos through its mobile app. As a regulated bank by Bangko Sentral ng Pilipinas (BSP), all deposits with GoTyme Bank are insured by the Philippine Deposit Insurance Company (PDIC) for up to PHP 500,000 per depositor, ensuring the safety of your money.

Benefits of having a GoTyme Bank account

High-interest rate: you will earn 4% interest per year (paid monthly) on your savings.
No minimum or maximum deposit balance requirement to earn interest. Regardless of the amount, you will get a 4% interest p.a. on your deposit.
Free VISA debit card
Free cash in / cash out at Robinsons Supermarket
No maintaining balance
No bank transfer fees when sending money to another GoTyme Bank account or a Robinsons Bank account
3 free fund transfers to other banks every week
Get 3X Go Rewards points when you use your GoTyme Bank to shop at Robinsons Supermarket, Robinsons Department Stores, and all Go Rewards partners.

How to open an account

Via the app

Download the GoTyme Bank app from the Apple App Store or Google Play.
Follow the on-screen instructions and provide your details.
During the process, you will be asked to scan your valid ID and have a selfie taken.

Note: you will need to visit a kiosk to claim your free VISA debit card.

Via a kiosk

Visit a kiosk near you.
Follow the on-screen account opening process to fill out your personal information.
Scan your valid ID, have your fingerprint registered, and your picture taken.
You can immediately claim your free VISA debit card which will be printed by the kiosk.

App Interface

SSS Portal Registration Made Easy: A Step-by-Step Guide

The SSS Portal offers a range of services that allow members to access their Social Security System (SSS) records and perform various transactions online. Here are some of the things you can do using the SSS Portal:

View your SSS contributions and loan status
Apply for an SSS salary loan or calamity loan
Check your eligibility for benefits, such as retirement, disability, and maternity benefits
File for SSS benefit claims online
Update your personal information, such as your address and contact details
View and download your SSS records, such as your contribution and loan history
Request for a digital copy of your SSS ID card
Check the status of your SSS claims and loans
Access SSS forms and other useful resources
Enroll in the WISP Plus program

With the SSS Portal, you can conveniently access your SSS records and perform transactions online without having to visit an SSS branch. This saves you time and effort, especially during these times when physical distancing and safety measures are necessary.

Steps on how to register for SSS Portal

Step 1: Prepare your SSS Number and Email Address

To register for the SSS Portal, you’ll need your SSS number and a valid email address. If you don’t have an SSS number yet, you’ll need to apply for one at your nearest SSS branch.

Step 2: Go to the SSS Website

Open your preferred web browser and go to the official website of the Social Security System (www.sss.gov.ph). Look for the “Portals” section on the right side of the page and click the “Member” button.

Alternatively, you can directly access the SSS member registration page by going directly to the member login page.

Step 3: Click the “Register” Button

On the SSS member registration page, click the “Register” button.

Step 4: Agree to the Reminders

Click the box “I certify that I have read and understood the foregoing reminders on SSS Web registration.” in order to proceed.

Step 5: Fill out the online registration form

You’ll be redirected to the SSS Online Member User ID Registration page. You’ll be asked to provide your personal information, such as your name, date of birth, and SSS number. You’ll also need to create a username and password for your SSS Portal account.

Step 6: Set up your Password

After submitting your information, you’ll receive an email from the SSS containing a link to set up your password. Click the link provided in the email to set up your password.

Note: you will be asked to input the last 6 digits of your CRN/SS number.

Step 7: Log in to your SSS Portal Account

Go back to the SSS Portal login page and enter your username and password to access your account. Congratulations, you’re now registered for the SSS Portal!

Save More with SSS WISP Plus Program

The Social Security System (SSS) offers various programs and benefits to its members, including the SSS WISP Plus Program. This program is designed to provide a source of additional income and savings for SSS members.

What is the SSS WISP Plus Program?

The SSS WISP Plus Program is a voluntary savings program that offers higher returns compared to the regular SSS program. It is open to all SSS registrants and SSS members with no final benefit claim, regardless of the amount of declared monthly earnings and last posted monthly salary.

If you’re familiar with Pag-IBIG MP2, this is somewhat the SSS equivalent of it.

How to Enroll?

SSS registrants can enroll in the WISP Plus Program through the online application for an SS Number via the SSS website. Once issued with an SS Number, they are automatically enrolled in the WISP Plus Program.

Eligible SSS members can enroll in the WISP Plus Program through the My.SSS portal by accepting the Terms and Conditions of the program.

For detailed steps on how to enroll, you may refer to our other article: How to enroll or invest in SSS WISP Plus

Contributions

The minimum contribution for the SSS WISP Plus Program is ₱500 per payment. The contribution payment of the WISP Plus enrollee/member is subject to the guidelines for each SSS payment channel in terms of maximum amount per payment, manner of payment (e.g., manager’s check), daily limits, and others, in compliance with applicable laws and regulations.

The WISP Plus enrollee/member can pay contributions anytime, subject to the following rules at the time of generation of the Payment Reference Number (PRN) through the My.SSS portal under the SSS Real-Time Processing of Contribution (RTPC):

For employed members, they must have at least one (1) posted regular SSS contribution applicable in the last three (3) months.
For self-employed (SE), voluntary member (VM), or land-based overseas Filipino worker (OFW) members, they must have a posted regular SSS contribution for the current applicable month of payment. Otherwise, they must pay or include payment for both the regular SSS contribution and the WISP Plus contribution for the current applicable month.

Withdrawal

The SSS WISP Plus member can withdraw their total accumulated account value anytime under the following conditions:

They have been a WISP Plus member for at least one (1) year.
Partial withdrawal is allowed, provided that:
- The amount is based on the total accumulated account value posted prior to the month of partial withdrawal.
- Partial withdrawal is only allowed once a month.
- The remaining balance in the accumulated account value after partial withdrawal is not lower than ₱500.
Partial or full withdrawal within the first year of WISP Plus membership is only allowed for extreme hardship conditions such as critical illness, involuntary separation from employment, repatriation of OFW members from the host country, and other analogous conditions as may be determined by the SSS.

The WISP Plus member shall receive adjusted earnings based on the following proportions:

1 to <2 years of membership will receive 60% percent of earnings.
2 to <3 years of membership will receive 70% percent of earnings.
3 to <4 years of membership will receive 80% percent of earnings.
4 to <5 years of membership will receive 90% percent of earnings.
5 or more years of membership will receive 100% percent of earnings.

Can I join again if I withdraw my earnings?

Yes, you can! After the full withdrawal of the total accumulated account value, the SSS member must re-enroll to become a WISP Plus member again. They will be subject anew to the guidelines of the WISP Plus Program.

Benefits of the SSS WISP Plus program

The basis for WISP Plus benefits is the total accumulated account value of the WISP Plus member at the time of the approval of the final benefit claim. WISP Plus benefits shall be automatically processed when the WISP Plus member, or his/her beneficiary, files for the final benefit claim. The benefits shall be paid in a lump-sum amount at the same time as the initial final benefit claim.

Conclusion

The SSS WISP Plus Program is a great opportunity for SSS members to secure additional income and savings for their future. The program offers higher returns compared to the regular SSS program, and the withdrawal and benefits processes are straightforward and convenient. With the flexibility of contributions, any SSS member can enroll in the program and start saving for their future today.

Virtual Pag-IBIG Account Creation Guide

Creating an online account on Virtual Pag-IBIG is a convenient and secure way to manage your membership. You can easily check your contributions, apply for a loan, and update your personal information using the platform.

Follow these simple steps to create your Virtual Pag-IBIG account:

1. Visit the Virtual Pag-IBIG website using your preferred web browser.

2. On the Virtual Pag-IBIG homepage, click the “Create Account” button in the left-hand corner of the page.

3. Click the “Continue” button.

4. You will be taken to a page where you have 3 options to choose from to create your Virtual Pag-IBIG account:

Via your Loyalty Card Plus
Create and Activate your Account Online
Account Creation for OFWs

Select which one is appropriate for you, then follow the steps for the one you chose.

Via your Loyalty Card Plus

Creating a Virtual Pag-IBIG account is easiest if you have a Pag-IBIG Loyalty Card Plus. Follow these steps to create your account using your card:

1. After selecting the “Click Here” button under “via your Loyalty Card Plus”, you’ll get a pop-up reminder advising you of the information you need to provide:

Pag-IBIG Fund Membership ID (MID) Number
Active mobile number
Active email address

Just keep clicking the Next button until you see the big “Check mark” icon. Ensure not to close the box by clicking the X button on top.

2. Click on the big Checkmark to proceed with the creation of your account.

3. Input the following details from your Loyalty Card Plus:

Pag-IBIG Fund Membership ID (MID) Number
Bank that issued your card
The last four (4) digits of your card number found on the back of your Loyalty Card Plus

4. Input the One-Time Pin (OTP) sent to your mobile phone.

5. Enter the following details:

Email Address
Three (3) security questions and answers to help you retrieve your password in case you forget it in the future

6. Check your email for confirmation of your account creation and your temporary password.

7. Create your new password and log in to your Virtual Pag-IBIG account to access the full range of services.

Create and Activate your Account Online

The steps that will be provided are for those who don’t have a Pag-IBIG Loyalty Plus Card.

1. After selecting the “Click Here” button under “Create and Activate your Account Online”, you’ll get a pop-up reminder advising you of the information you need to provide:

Pag-IBIG Fund Membership ID (MID) Number
Active mobile number
Active email address
2 valid IDs
Selfie photo

Just keep clicking the Next button until you see the big “Check mark” icon. Ensure not to close the box by clicking the X button on top.

2. Click on the big Checkmark to proceed with the creation of your account.

3. On the next page, fill out your details. Key in the following information:

Pag-IBIG Fund Membership ID (MID) Number
Complete name
Date of birth
Mobile phone number

4. Input the One-Time Pin (OTP) sent to your mobile phone.

5. Next, you will need to provide the following information:

Email address
Three (3) security questions and answers to help you retrieve your password in the future
Mother’s maiden name
Place of birth

6. Upload a photo of your passport or two (2) valid primary identification cards. Ensure that your photo is clear, and the information on the card is readable.

7. Upload your selfie picture while holding your passport showing or the two (2) valid identification cards you submitted. Ensure that your photo is clear, and the information on the card is readable.

8. Once you have uploaded your valid IDs and selfie photo, confirm your submission. You will receive an SMS confirming that you have successfully created your Virtual Pag-IBIG account.

You will receive another SMS over the next few days informing you that your Virtual Pag-IBIG account has been activated and how you may access it.

Account Creation for OFWs

The steps that will be provided are dedicated to OFWs. To create a Virtual Pag-IBIG account using the “Account Creation for OFWs” option, follow these steps:

1. Follow the first 4 steps outlined under the section Create and Activate your Account Online.

2. Enter the following details:

Country of assignment
Email address
Three (3) security questions and answers to help you retrieve your password in case you forget it in the future
Mother’s maiden name
Place of birth

3. Upload a clear photo of your passport or two (2) valid primary identification cards.

4. Upload a selfie while holding your passport or the two (2) valid identification cards you submitted.

5. You will receive an SMS confirming the successful creation of your Virtual Pag-IBIG account.

6. Within a few days, you will receive another SMS informing you that your Virtual Pag-IBIG account has been activated and how you can access it.

That’s it! You have successfully created an online account with Virtual Pag-IBIG. You can now access your account to view your contributions, apply for a loan, and update your personal information.

Note: For security reasons, make sure to change your temporary password immediately after logging in to your Virtual Pag-IBIG account.

How to Invest in Pag-IBIG MP2

Pag-IBIG MP2 (Modified Pag-IBIG II) is a government-guaranteed savings program offered by the Home Development Mutual Fund (HDMF), more commonly known as the Pag-IBIG Fund. This investment opportunity is designed for those who are looking to save money while earning higher returns compared to traditional savings accounts.

Pag-IBIG Fund, as stated in its Charter, invests at least 70% of its funds in the housing finance sector. Additionally, it also invests in government securities and corporate bonds.

What is Pag-IBIG MP2?

Pag-IBIG MP2 is a type of savings program that offers higher dividends compared to regular savings. The dividends earned are tax-free and can be withdrawn annually or after the 5-year maturity period.

Historical Dividend Performance

The average performance of the Pag-IBIG MP2 program has been consistently growing over the years, making it an attractive investment opportunity for those looking for steady returns.

Eligibility

The following are eligible to join the Pag-IBIG MP2 program:

Active Pag-IBIG Fund members who have made at least one savings contribution within the past six months.
Former members who have already retired or are receiving a pension and have additional sources of monthly income. They must have made at least 24 monthly savings contributions prior to their retirement.
Individuals who were born Filipino (but have since become citizens of another country) and have reacquired their Filipino citizenship through the Citizenship Retention and Reacquisition Act of 2003, provided that they have made at least 24 monthly savings contributions before their permanent migration to another country.

It’s important to note that membership in the Pag-IBIG Fund is mandatory for all employees, and contributions to the Pag-IBIG MP2 program are voluntary.

How to Create a Pag-IBIG MP2 Account

To open an MP2 savings account, you have two options:

Online via Pag-IBIG Fund Services website.
At any Pag-IBIG Fund branch by submitting the MP2 Savings Enrollment Form, which you can download from the Pag-IBIG Fund’s website.

Note: Multiple MP2 Savings accounts can be opened and maintained by an individual.

How to Fund

When it comes to funding your MP2 account, there are several options to choose from:

Salary deduction, if you’re employed
Online remittance through authorized online payment channels such as Virtual Pag-IBIG, GCash, Moneygment App via Cashpinas, Coins.ph via Bayad, or PayMaya
Over-the-counter (OTC) remittance through any Pag-IBIG Fund branch, or authorized collecting partners’ outlets such as Asia United Bank, Robinsons Bank, United Coconut Planters’ Bank, SM Business Centers, Bayad, M. Lhuillier, ECPay, Philippine National Bank, Asia United Bank, IRemit powered merchants, Ventaja powered merchants, and Cashpinas powered merchants.

It’s important to note that there’s no penalty for not contributing on a regular basis. You can actually contribute to your MP2 account anytime you want. You may also choose to remit a one-time lump sum amount for the whole 5-year period of your MP2 Savings.

When is the Dividend Credited

The MP2 savings program has a 5-year maturity, and dividends are credited annually. The dividends earned are tax-free and can be withdrawn annually or after the 5-year maturity.

In conclusion, Pag-IBIG MP2 is a government-guaranteed investment opportunity that provides higher returns compared to traditional savings accounts. It is easy to open an account and there is no penalty for not contributing regularly. With multiple funding options and the ability to open multiple accounts, the Pag-IBIG MP2 is a great option for those looking to save money and grow their wealth.