It is easy to withdraw Pag-IBIG MP2 savings. The process is similar when claiming your regular contribution or MP1. Check this tutorial in order to have an overview if you want to withdraw your MP2 savings soon.
Your MP2 savings will mature after 5 years. After this, you can withdraw your money by following these steps:
1. Visit the Pag-IBIG Fund Site and download the Application for Provident Benefits (APB) Claim form. You will need to completely fill-out the details needed in this form. Make sure to put a checkmark on the “Modified Pag-IBIG 2” tick box.
2. Visit the Pag-IBIG branch where you have filed your MP2 application.
3. Submit the APB Claim form along with other requirements which may be required by the Pag-IBIG representative.
4. Receive the Provident Benefits Acknowledgement Receipt.
5. Claim your Pag-IBIG MP2 lump sum check on the date indicated in the receipt. The amount that will be released to you includes your total savings plus the dividends earned by it in a span of five years.
Should you have trouble claiming your MP2 matured savings after 5 years, it will keep on earning dividends (based on the dividend rates of the Pag-IBIG Regular Savings Program).
After two years, it will no longer earn dividends and must be withdrawn.
Aside from the mandatory claim after 5 years, an unfortunate life situation might make withdrawing your MP2 savings necessary.
Pag-IBIG Fund allows early withdrawal under any of the following scenarios:
- Total disability or insanity
- Termination from employment due to health reasons
- Death/Critical illness of the MP2 account holder or an immediate family member
- Migration to another country
- Unemployment due to layoff or company closure
- OFW repatriation from the host country
If you don’t belong to any of the qualifications listed above and if you just want to withdraw your Pag-IBIG MP2 savings before the maturity, you will only receive half of your total savings.
There may be additional case-based requirements that may be needed by the Fund depending on the reason for the premature withdrawal of your MP2 savings.