04 May 2022
Dear Ms. Princess Josny Palconit:
This refers to your eFOI requests received on 12 April 2022 via the eFOI portal of the Home Development Mutual Fund (Fund) wherein you: (i) requested to get a copy of your Modified Pag-IBIG II (MP2) savings account number; (ii) inquired on the terms and conditions of the MP2 Program; (iii) inquired whether you are required to withdraw your yearly dividends; and (iv) how long can you save on your MP2 savings account.
Our Office deemed it proper to raise this matter to and confer with the operating unit concerned – the Member Services Sector Support Unit (MSSSU).
Kindly be informed that the terms and conditions of the MP2 Program may be found in Circular No. 407, Amended Guidelines for Modified Pag-IBIG II (MP2) Membership Program, which may be accessed through the following link:
https://www.pagibigfund.gov.ph/document/pdf/circulars/provident/Amended%20Guidelines%20for%20Modified%20Pag-IBIG%20II%20Membership%20Program.pdf. For more information on the MP2, you may also visit the Fund’s website at: https://www.pagibigfund.gov.ph/Membership_ModifiedPagIBIG2.html#.
With regard to the withdrawal of dividends, please be informed that members may receive their MP2 Savings dividends via the following options:
1. Upon full withdrawal of your MP2 Savings after its 5-year maturity period with your MP2 Savings dividends compounded annually;
2. Through annual pay-out with your MP2 Savings dividends credited to your savings or checking account enrolled in any of Pag-IBIG Fund’s accredited banks. For members who opt for an annual dividend payout but have no Philippine bank account, such as in the case of overseas members, their MP2 Savings Dividends shall be released via check.
As regards your query on how long can you save on your MP2 savings account, may we inform you that MP2 savings which are unclaimed after its 5-year maturity will stop earning dividends under the MP2 savings rate. It will, however, keep earning dividends based on the dividend rate of the Pag-IBIG Regular Savings for the next 2 years. After which, it shall stop earning dividends and be reclassified as accounts payable.
Finally, with regard to your request for a copy of your MP2 savings account number, please be informed that Section 3 of Executive Order No. 2, series of 2016 (Executive Order) grants every Filipino citizen the right to access information, official records, public records and to documents and papers pertaining to official acts, transactions or decisions, as well as to government research data used as basis for policy development.
In accordance with the aforementioned Executive Order, the Pag-IBIG Fund People’s Freedom of Information Manual (Manual) also states that “Information for Disclosure” includes: information promoting the awareness and understanding of policies, programs, activities, rules or regulations affecting the public, government agencies, and the community and economy (Section 2 of the Manual).
In other words, the nature and subject of requests for information pursuant to Executive Order No. 2, series of 2016 refer to the right of Filipino citizens to information on matters of public concern. It excludes requests pertaining to personal transactions with the Fund, which necessarily involves disclosure of personal information.
Considering that your request pertains to your personal transaction and record with the Fund, this is not covered under the aforementioned Executive Order and Manual.
Nevertheless, for your inquiries or concerns, you may contact Ms. Jasmine A. Baltazar, Loans and Credit Evaluator II, at
[email protected] and/or through telephone number 8422-3000 local 5399.
Thank you.
Very truly yours,
ATTY. JOSE ROBERTO F. PO
Department Manager III, Legal Department and
Deputy Compliance Officer
