Social Security System and Pag IBIG offers savings/provident/retirement options on top of their regular program. Both are tax free and guaranteed by the government. Learn which investment is best fit for you and will yield higher return. Here’s the comparison betwen SSS PESO Fund vs Pag IBIG Modified 2
| CRITERIA | SSS PESO FUND | MP2 |
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| SIMILARITY | Both are voluntary savings schemes
Tax Free Both are guaranteed by the Philippine government Offers interest rates that is higher than bank’s savings interest Do not require monthly payments (you will not be penalized nor you lose your savings when you missed a month) Both are offered to OFWs and non OFW Pag-ibig and SSS Members Both require membership in the regular programs of the agency |
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| Minimum Contribution | 1,000 pesos | 500 pesos |
| Maximum Contributions | 500,000 per year | No limit |
| Required monthly contribution for the regular program of the agency | For employed members, no minimum SSS ContributionFor OFW, Voluntary, Self Employed members – pay the maximum Monthly salary credit | For employed members, at leat 100 pesos.For Self Employed, Voluntary and OFW members, at leat 100 pesos. |
| Qualification for Opening an Acount | Contribution – you must have paid at least 6 consecutive monthly contributions within the last 12 months prior to your month of registration | Contribution – must have at least one monthly savings to your regular Pag-ibig |
| Age limit | Must be 54 age and below. | No maximum age limit |
| How to pay | Use your SS Number to pay for your PESO savings | Registart to Pag-ibig and get MP2 Account Number and use it when paying. |
| DIVIDENTS | Members are not allowed to withdraw all PESO savings after 5 years. 35% of the total PESO savings is only allowed to be withdrawn for your medical, educational, housing and livelihood needs.
The rest is allotted for retirement, when member reached the age 60. |
You can claim your total MP2 savings and dividents after 5 years. If you like, you may renew and continue savings for another 5 years. |
Bilang sss voluntary member. ang budgetko ay para sa monthly salary credit p13.500 lang. Gusto kong mag invest at kaya ko pero ayaw kong i maximize ang aking contribution. Ang taas naman kasi ng standard nyo. Buti pa ang pag ibig makamasa.
Gusto kong mag-invest din sa SSS, kaso nakakabahala yung mga balita, gaya na lang nung sinasabi na fat bonuses of SSS execs, and also the issues related to pension hikes, “……Chairman Valdez said that Finance Secretary Dominguez is keen on securing SSS funds to last at least until 2039, but granting the entire P2,000 pension increase in 2017 will shorten fund life to only until 2025, instead of its projected life to last until 2042….”. Nakakabahala lang po.
joeyberto50@yahoo.com
MP2 is better that SSS PESO fund as the former is more flexible and offer better devidends.