How to withdraw your MP2 savings

When your five years are up, you claim your MP2 savings online through Virtual Pag-IBIG or at a Pag-IBIG branch. With compounded payout you get your savings plus every year’s dividend. With yearly payout you get your savings plus the last year’s dividend. You can roll the money into one more five-year cycle instead, but only if you opted in. Withdrawing early is allowed on the grounds Pag-IBIG lists, and is charged a fee on other grounds.

Claiming at maturity

The term ends five years after your first remittance. Pag-IBIG says it will notify you before your account matures.

Online, through Virtual Pag-IBIG. Pag-IBIG’s MP2 claims page gives these steps:

1. Log in to Virtual Pag-IBIG and choose “Claim Pag-IBIG Savings”, then “MP2 Savings Maturity”.
2. Confirm the account with your MP2 account number.
3. Wait for a text message. Pag-IBIG sends one when the claim is approved. Until 30 November 2026 it also texts when a check is ready at the branch, if you are paid by check.

At a branch. Bring:

• the Application for Provident Benefits (APB) claim form, filled in;
• your Pag-IBIG Loyalty Card or Loyalty Card Plus;
• one valid ID.

How you are paid. Until 30 November 2026, payouts may still be by check. From 1 December 2026 Pag-IBIG pays electronically, under its Circular No. 503: to a disbursement card or your Pag-IBIG Loyalty Card Plus, a LANDBANK account, or your nominated bank or non-bank account or an accredited cash payout outlet. Checks are kept only for exceptional cases. The bank, non-bank or outlet may charge a fee.

How long it takes. Pag-IBIG’s Citizen’s Charter gives 20 working days for a matured MP2 claim.

If you file before Pag-IBIG has declared the rate for the year just ended, the circular says the latest declared rate is used for that year.

Rolling over instead

Under Circular No. 487 you can roll your matured savings and their returns into one more five-year cycle, with the same payout option. You have to opt in, either when you enrol or within six months before the account matures, after Pag-IBIG’s reminder. The total can’t go over PHP 20,000,000; anything above that is refunded.

If you don’t opt in, the account closes when it matures. The money is moved to Accounts Payable to be released to you, and from then on it earns no MP2 returns. So if you plan to leave the money in, opt in before the date. Any payment you make into a matured account after that is also returned to you.

The older MP2 page FAQ describes rolling over in full or in part, and an automatic rollover. That is the older guidance; the circular now allows one opt-in rollover.

Early withdrawal

The allowed grounds

Circular No. 487 (section F.1) lets a Pag-IBIG member take out MP2 savings before the five years are up for any of these reasons:

• total disability or insanity;
• leaving a job for health reasons;
• death of the member or of an immediate family member;
• retirement;
• permanent departure from the Philippines;
• unemployment through layoff or the company closing;
• critical illness of the member or an immediate family member, certified by a licensed physician and approved by Pag-IBIG: cancer, organ failure, heart-related illness, stroke or neuromuscular-related illness;
• repatriation of an OFW because the job ended, political unrest, a calamity or other reasons beyond their control;
• other grounds the Pag-IBIG Board approves.

Former members and pensioners have a shorter list (section F.2): disability or insanity, death of the member or an immediate family member, permanent departure, the same critical illnesses, and other approved grounds.

“Immediate family” means a spouse, parents, children, siblings, grandparents or grandchildren, and legally adopted children for withdrawals by their adoptive parents.

What early withdrawal pays

The two Pag-IBIG texts say different things, so here are both:

• Circular No. 487 (dated 26 February 2026) charges a pre-termination fee only when a member leaves early “for reasons other than the allowable grounds”. The fee is 50% of the returns already earned, and 50% of the current year’s returns. With yearly payout, 50% of the returns already paid out is taken from your savings. The circular states no deduction for the allowed grounds.
• The FAQ on the MP2 page (older guidance) says a withdrawal on the allowed grounds pays: “Principal MP2 Savings; 50% of the total dividends earned from prior years; and 50% of the dividends for the current year, which shall be released after the dividends for the said year have been declared and credited.”

We don’t give a figure for what you get on the allowed grounds, because the sources disagree. Ask Pag-IBIG what your account will pay before you file.

Claiming from abroad or for someone else

If you have a Philippine bank account or a Loyalty Card Plus, you can claim online through Virtual Pag-IBIG from anywhere.

Without a Philippine bank account. Circular No. 487 says the money of members without one, “particularly overseas members”, is held as Accounts Payable, which you can withdraw at any time under Pag-IBIG’s rules. Money left there unclaimed for 10 years goes to the Fund’s retained earnings, after Pag-IBIG tries to reach you. From 1 December 2026, Circular No. 503 also lets Pag-IBIG pay to a nominated non-bank account or an accredited cash payout outlet, or to your Loyalty Card Plus, so ask Pag-IBIG which of these you can use from abroad. The older MP2 page FAQ says a check is sent, which C503 phases out.

Through a representative. The Citizen’s Charter asks for the APB claim form, an authorisation letter (original) and a valid ID of both you and your representative.

When a member has died. The family files the claim. Under Circular No. 503 the heirs give Pag-IBIG the details of the account they want the money paid into. The MP2 claims page lists different documents depending on whether the member was single or married and had children. For a married member with children, for example, it lists the member’s PSA marriage contract and PSA Advisory on Marriages, the children’s PSA birth certificates, Pag-IBIG’s Proof of Surviving Legal Heirs form, an affidavit of guardianship if any child is a minor, two valid IDs of the claimant and, optionally, a notarised waiver from the children. Take the list on that page for your situation to the branch.

MP2 is separate from your Regular Savings

Your MP2 account and your regular monthly Pag-IBIG savings are claimed separately. Regular Savings has its own grounds, such as 20 years of membership or retirement, and its own claim. See our guide to the Pag-IBIG provident claim.

To see what your account may be worth at the end, try the MP2 calculator, and for past rates see MP2 dividend rates. The MP2 basics are on our MP2 savings page, and the rest of Pag-IBIG on our Pag-IBIG guide for OFWs.