Tag: savings

Savings vs Investment: Which Approach is Right for You?

Posted on By Kuya Well No Comments on Savings vs Investment: Which Approach is Right for You?
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One of the key questions people often ask is, “Should I be saving or investing my money?” The answer is not always clear cut and there are pros and cons to both. In this post, we’ll explore the difference between savings and investment that will help you determine which approach is right for you. Savings … Read More “Savings vs Investment: Which Approach is Right for You?” »

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.

Pag-IBIG

3. Click the “Continue” button.

Pag-IBIG

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

Pag-IBIG

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.

  • Pag-IBIG Loyalty Plus Card
  • Pag-IBIG
  • Pag-IBIG
  • Pag-IBIG

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

Pag-IBIG

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
Pag-IBIG

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.

  • Pag-IBIG
  • Pag-IBIG
  • Pag-IBIG
  • Pag-IBIG
  • Pag-IBIG
  • Pag-IBIG

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

Pag-IBIG

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
Pag-IBIG

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.

Why Filipinos Struggle with Saving and How to Overcome

Posted on By Kuya Well No Comments on Why Filipinos Struggle with Saving and How to Overcome
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As discussed in a previous post, savings are crucial because they allow you to build a financial cushion for emergencies, such as job loss or unexpected expenses. In addition, saving can help you achieve your long-term financial goals, such as buying a house, starting a business, or retiring comfortably. That said, many Filipinos struggle with … Read More “Why Filipinos Struggle with Saving and How to Overcome” »

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:

  1. Online via Pag-IBIG Fund Services website.
  2. 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:

  1. Salary deduction, if you’re employed
  2. Online remittance through authorized online payment channels such as Virtual Pag-IBIG, GCash, Moneygment App via Cashpinas, Coins.ph via Bayad, or PayMaya
  3. 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.