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Whether you’ve saved money in the regular account or Pag-IBIG MP2 program, this guide has everything you need about withdrawing Pag IBIG contributions.
Go back to the main article: Pag-IBIG Contribution Table (with Detailed Computations and Explanations)
Table of Contents
- Pag-IBIG Savings I or Provident Savings.
- The Modified Pag-IBIG II or MP2.
- What will happen to the unclaimed contributions of a deceased member?
Pag-IBIG Savings I or Provident Savings.
1. When can I claim my Pag-IBIG contributions?
a. Upon membership termination.
You can withdraw your entire Pag-IBIG savings (also called provident benefits), which include all your contributions and dividends earned when your membership ends for any of the following reasons:
- Membership maturity – Twenty years of active Pag-IBIG membership with a total of 240 paid monthly contributions.
- Retirement – Reaching the mandatory retirement age of 65 or optional retirement age of 60.
- Permanent total disability or insanity – Lost or impaired physical/mental function due to an illness or injury.
- Separation from work due to health reasons – Inability to perform your job due to severe health conditions, as certified by a doctor.
- Critical illness of the member or an immediate family member – including cancer, heart disease, organ failure, stroke, and neuromuscular-related illness.
- Permanent departure from the Philippines – Leaving the country for good or getting a permanent residency status in your host country.
b. Optional withdrawal.
Alternatively, you may claim your Pag-IBIG contributions earlier than your membership termination, as long as you meet the following conditions:
- Completing at least 10 years of active membership (with a total of 120 paid monthly contributions) without any gap, or 15 years with 180 monthly contributions (also without gaps)
- No outstanding Pag-IBIG housing loan, whether as a principal or co-borrower, at the time of withdrawal.
- For members with existing Pag-IBIG short-term loan: Outstanding balance of Php 100 or lower (Full payment of the balance to qualify for optional withdrawal is allowed).
This option can be availed only once during your entire membership. The amount you’ll receive will be 120 or 180 months’ worth of your contributions, including the dividends earned.
Also, you’ll continue to be a member until you meet any of the eligibility criteria for membership termination. By then, you can withdraw the rest of your Pag-IBIG savings.
2. How can I withdraw my contributions?
Submit the following requirements to a Pag-IBIG office, ideally the branch that keeps your membership record:
- Completed Application for Provident Benefits (APB) Claim form
- Original and photocopy of Pag-IBIG Loyalty Card and one valid ID / Two valid IDs (for those without a Loyalty Card)
- For government employees: Service Record
- For AFP members: Statement of Service
- For authorized representatives claiming on behalf of a member: Special Power of Attorney and two valid IDs
You’ll also need to provide additional documents, depending on your reason for claiming contributions. Check the APB Claim form for the list of additional requirements.
Your provident benefits claim will go through an evaluation. Once your application is approved, you’ll be given a claim stub for your check pickup.
If you’ve had only one employer, processing your claim will take only three to five working days.
However, if you’ve had multiple employers, processing will take longer (around 20 working days) because your membership records at different Pag-IBIG branches will have to be validated and consolidated first.
The Modified Pag-IBIG II or MP2.
1. When can I withdraw my MP2 savings?
a. After the five-year maturity period.
You can claim your Modified Pag-IBIG II savings after five years since you opened your MP2 account. If you want to continue saving under MP2, you need to withdraw your savings and apply for a new account.
If you don’t withdraw after the maturity period, your money will continue to earn annual dividends based on the rates for the regular Pag-IBIG savings program for another two years.
Afterward, your savings will no longer earn dividends and should be claimed immediately.
b. Pre-termination of MP2 savings.
The Pag-IBIG Fund allows early and full withdrawal of MP2 savings before the five-year maturity period for any of the following reasons:
- Retirement (except for pensioners)
- Total disability or insanity
- Separation from work due to health reasons
- Critical illness/Death of the member or an immediate family member
- Permanent departure from the Philippines
- Unemployment due to company closure or layoff
- Repatriation of an OFW member from his/her host country
If you’ll claim your MP2 savings for any other reason, you’ll receive only 50% of the total dividend earnings (if you chose compounded dividends) or just your total savings (if you chose annual dividend payout).
2. How can I claim my MP2 savings?
Once your MP2 account matures, you’ll receive a notification letter from the Pag-IBIG Fund with instructions on how to claim your savings.
The Pag-IBIG Fund releases the MP2 savings through check. According to members who have tried saving under MP2, the agency takes around three months to issue the check for payment of MP2 proceeds.
What will happen to the unclaimed contributions of a deceased member?
The TAV (or Total Accumulated Value) of deceased Pag-IBIG members will be paid to their heirs. In addition, the heirs will receive a death benefit of Php 6,000 or an amount equivalent to the member’s TAV.
If you’re a designated heir of a Pag-IBIG member who has recently passed away, visit a Pag-IBIG branch to apply for a provident benefits claim.
Go back to the main article: How to Compute Your Pag-IBIG Contribution: A Complete Guide to Contribution Table and Payment