Tue. May 21st, 2019
pag ibig o sss savings options

Which Program is Easier to Comply – Modified Pag-IBIG II (MP2) or SSS PESO Fund?

The Modified Pag-IBIG II (MP2) and SSS Personal Equity and Savings Option (PESO) Fund are two of the most affordable and accessible savings options available for all hardworking Filipinos today. But like all programs there are is a list of eligibility requirements an interested member will go through before qualifying.

Pag-IBIG is not just limited to home financing. The MP2 savings program is a five-year tax-free savings mechanism, designed for all active Pag-IBIG I (P1) members. The term is renewable every five years; it delivers a yield better than regular savings or time deposit accounts from local banks.

The SSS PESO Fund also has the same objectives. It is an alternative investment option for all current SSS members to establish a secure future by earning interest on their extra earnings. The earnings are tax-free and guaranteed, contributions are entrusted in a government-assured investment scheme.

Qualifications to join

The eligibility requirements of the two most attractive government-guaranteed savings options vary. Check out the requirements below to find out where you fit.

pag ibig fund savings options

Modified Pag-IBIG II MP2:Modified Pag-IBIG II MP2:

  1. Open to all local workers, voluntary members, self-employed and Overseas Filipino Workers (both active and former)
  2. Must be an active Pag-IBIG I (P1) member who regularly contributes at least Php100 to an existing Php1 account.
  3. All Pag-IBIG members can join regardless of age (legal age) and current monthly income. The monthly income requirement of Php5000 and above has been waived since July 2018.
  4. If you are an existing pensioner who used to be an active Pag-IBIG member, provided that you have contributed to your P1 account at least 24 months before your retirement.


  1. Open to all local employees, voluntary members, self-employed and OFWs both active and former
  2. The member should be 55 years old and below.
  3. Under the regular SSS program, an interested member should have paid his last 6 consecutive SSS monthly contributions within the last 12 months before the enrollment.
  4. The Interested member should be paying a maximum contribution per month under the regular SSS program.
  5. There should be no final claim filed in relation to death benefits, pension, and total disability prior to enrollment.
sss perso fund option

As you can see, completing the eligibility requirements of an MP2 savings program is more convenient than its counterpart. The Social Security System (SSS) is stricter in allowing their active members to participate in the SSS PESO Fund.

No matter what savings option you choose, the MP2 and SSS PESO Fund offer almost similar features which may provide you with better opportunities to save and earn some extra income. The Philippine government will never run out of savings schemes to give Filipinos more freedom on how they want to see their hard-earned money grow fruitfully.


Source: entrepreneur.com

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