CIRCULAR NO. 407

: The objectives are to provide flexibility and convenience in managing savings with the Fund and to allow members a shorter savings scheme with a yield higher than the existing Pag-IBIG Membership.
: All Pag-IBIG I members regardless of their income, and former Pag-IBIG I members with other income sources and/or pensioners with at least 24 monthly savings prior to retirement are eligible.
: A pensioner is a person retired and receiving pension under specified laws such as RA 8282, RA 8291, RA 660, RA 1616, RA 7699, PD 1146, PD 1650, RA 8551, RA 9263, RA 9993, and RA 9946.
: The minimum monthly contribution is Five Hundred Pesos (P500.00).
: Members may opt for annual dividend payout or compounding of dividends.
: Dividends cease to earn under MP2; subsequent dividends will be based on Pag-IBIG I rates for two years before classification as payable accounts.
: Conditions include total disability, insanity, health-related separation, death of member or immediate family, retirement, permanent departure from the country, unemployment due to layoff or closure, critical illness of member or family, repatriation of OFW, or other Board-approved meritorious grounds.
: The member shall be entitled to only 50% of the total dividend earned as penalty.
: Yes, multiple MP2 accounts are allowed provided each is registered separately.
: No, MP2 members are not entitled to loans unless they are also active Pag-IBIG I members who meet eligibility criteria.