It’s time to stop ignoring the elephant in the room. I should do something about my Pag-IBIG Regular Savings and MP2 that stop earning dividends.
Typically every year, my regular savings and MP2 receive dividends at the end of the year (December 31). But in past few years I didn’t get any.
Last Dividends Received
- Regular Savings – PHP 4,619.83 (December 31, 2020)
- MP2 – PHP 1,131.49 (December 31, 2021)
So what happened? Did Pag-IBIG stop giving dividends during and after the pandemic?
Where Are My Dividends?
Since 2020, I attempted to reach out to Pag-IBIG on their email and Facebook account. They keep saying that the interest hasn’t been released yet. Ummm. It’s been four years since my regular savings received a dividend.
The regular savings dividend rates keep increasing and I continuously pay contribution because I want to make a loan someday for a retirement home in the Philippines.
Before writing this blog post, I sent an email again to Pag-IBIG hoping I can get a response which I could add to this blog post to also help others who are having the same issue as I am.
In a few months, I’ll have a vacation in the Philippines and Tokyo, Japan. My last trip in Asia was when my siblings and I went to Siem Reap, Cambodia. We are excited to see sakuras in Tokyo.
And while in Manila, I plan to close my PNB account and open a new Philippine bank account (probably Unionbank, do you have any recommendations?). My errand also includes visiting a Pag-IBIG branch to resolve the issue and withdraw my MP2 savings.
Should I Continue Paying Contribution to Pag-IBIG and MP2?
My goal is to buy a retirement house in the province in the Philippines someday, that’s why I started to contribute to Pag-IBIG.
But due to the lack of getting dividends, I am contemplating whether I should continue saving or not. I was hesitant to invest in the Philippines because I am afraid that something like this would happen.
In spite of doubt, I invested small amount in Philippine stocks through COL Financial and eventually to Pag-IBIG and MP2.
It will depend on what will happen when I visit one of the Pag-IBIG branches if I will continue paying my contribution. But in the past months, I am also thinking of continuing my SSS.
I would like to seriously consider saving for my retirement in the Philippines through government agencies and cooperatives.
Investing in the Philippines
Although I only spend a small amount of savings for retirement in the Philippines through Pag-IBIG, I continuously invest on ETFs in Canadian online brokerage (Questrade).
It is easier to manage my investment online. Stocks and ETFs give monthly dividends like REITs.
In the past years, I wasn’t paying much attention to anything other than staying healthy. At some point I did get sick but was spare by COVID. My four vaccinations and avoidance to gathering and crowded places probably help.
The lockdown and losing loved ones have forced me to reflect about the future.
What passive income can I earn besides dividends? What remote work should I focus on switching to in order to achieve a digital nomad lifestyle and financial independence?
Final Thoughts
This year has brought in a sense of urgency with time and money. Things that people don’t want to talk about.
So starting this year, I want to keep things in order in terms of finance, blogging, and other areas of my life. My goal is to read more and less screen time. Learn new things and experiences.
It’s time to recalibrate the compass and live an intentional life.
How do you find your regular savings and MP2? Are you having the same issue as I am?
Share Your Thoughts