SSS Flexi-Fund vs. Pag-ibig MP2 — Which Is a Better Investment?

Updated June 2, 2014:

Both SSS Flexi-Fund and Modified Pag-ibig 2 (MP2) are savings programs offered by government agencies.

Both offer interest rates higher than those offered by banks for savings accounts and time deposits.

Both programs are guaranteed by the Philippine government.

Both are tax-free. Total savings plus their dividend or interest earnings are tax-free.

Both are SAFE savings plans. You will never lose your money in case you lose your job or business and you are not able to continue making your monthly payments.  With many pre-need and insurance investment plans, you will lose all or a big portion of your money if you fail to continue paying.

Here are the differences between the 2 programs:


MP2 is offered to all Pag-ibig 1 members.

Flexi-Fund is offered ONLY to OFWs who are SSS members.

Minimum Monthly Contribution:

The minimum monthly savings amount for MP2 is 500 pesos.

The minimum for Flexi-Fund is 200 pesos.

Mandatory or Regular Savings and Optional Savings:

Under MP2, you need to continue paying at least 100 pesos to Pag-ibig 1.

Under Flexi-Fund, you need to continue paying the maximum monthly contribution, which is 1,760 pesos.

Member Nos.:

For Pag-ibig, you have 2 different Pag-ibig nos: one for MP2 and another for Pag-ibig 1.

For SSS, you use the same SSS no. for regular SSS and for Flexi-Fund.


You pay MP2 and Pag-ibig 1 contributions separately. Remember, you have 2 different nos.

You pay Flexi-Fund and regular SSS as one item in a single receipt. SSS will be the one separating your payment. It will post 1,760 pesos to your regular SSS account, and will credit the excess to your Flexi-Fund account.

Pay at least 1,960 pesos (1,760 for your regular SSS account + 200 for your Flexi-Fund). For example, you want to contribute 1,000 to your Flexi-Fund, pay 2,760 pesos (1,760 for your regular SSS and 1,000 for your Flexi-Fund).

If you want to save 2,000, you pay 3,760 (1,760 for your regular SSS and 2,000 for your Flexi-Fund).

Term of Savings:

For MP2, you choose a term of 5 years or 10 years. Or choose a term of 5 years then renew for another term. Default term is 5 years, if term is not chosen.

For SSS Flexi-Fund, choose a term of any number of years, from 1 year to 30 years.

Earnings Rate:

For MP2, the dividend rate is decided by the Pag-ibig board every year, based on total Pag-ibig earnings the past year. MP2 is always higher than that given to P1 contributions. In 2010, the dividend rate for MP2 was 5.5% and the rate for Pag-ibig 1 was 5%.

For SSS, the interest rate is also repriced and quoted every year. It is based on the current average 91-day Treasury bill rate.

Example of Earnings shown at the Pag-ibig and SSS websites:

Monthly Total in Total TOTAL
Savings 5 years Dividends SAVINGS
MP2 2,000 120,000 19,687 139,687
FF 2,000 120,000 19,876 139,876

So if you can just save 5k a month for 5 years while abroad, you can see about 350,000 in your account the day after you arrive at the Manila airport.

One-Time Deposit:

SSS Flexi-Fund has a One-Time Deposit option, just like a time deposit at a bank. You can contribute 100,000 pesos or more as a one-time deposit.

You Can See your Money Growing:

For Flexi-Fund, enroll in Online SSS, so you can see your Flexi-Fund contributions anytime online.

For MP2, as of today, online checking of contributions is offered to OFws only.


Under MP2, you can now withdraw your money anytime before your 5-year term. Previously, you could not. This policy change was announced this January 2013. But always expect a 5-year term, so you will not be frustrated in case their withdrawal policy changes again.

Flexi-Fund is also flexible — you can withdraw anytime, in full or in partial amount.
But if you withdraw savings that have stayed with SSS for less than a year, you will be charged with pre-termination fees (10% or 20% of net earnings).

How to Start:

For SSS Flexi-Fund, fill up the OW-1 form and submit to the SSS Representative at the Philippine consulate where you are, or send to the SSS address written in the form:

International Operations Division
SSS Building, East Avenue, Diliman, Quezon City
1100 Philippines

If you’re in the Philippines, you can submit your OW-1 form at any SSS branch. Bring your Overseas Employment Certificate (OEC) and IDs.

For MP2, enroll at the Pag-ibig website:, click E-Services, then MP2 Enrollment.
If you don’t have yet a Registration Tracking Number or POP Temporary Number, get first your Transaction no. and Pag-ibig MID No. by going back to E-Services, click Membership registration.


For members of POP (Pag-ibig Overseas Program — the original US dollar, Canadian dollar and peso savings program for immigrants, OFWs and other types of overseas Filipinos),  you can continue saving under this POP program, or you can also start saving under MP2.

POP members can stop their POP membership as long as they have completed paying their housing loans taken under POP.


Add a Comment
  1. Hi evangeline, thank you for wishing me blessings. Wish you blessings too. It’s great that you’re looking where to save. About that 50k interest, that’s also just a sample. If you check the small notes below the page, it’s written there that those are only estimates. Flexi-Fund and MP2 can guarantee you that your money will earn and will earn more than if you deposit them in banks, but they can’t guarantee the exact interest rates. If you like, you can save/invest in Flexi, MP2 and a 5-year time deposit in a bank (look for one with free life insurance or with a raffle promo; choose from the big savings banks).

  2. Hi Nora thanks for replying, at least I got cleared up about some things. I hope and pray that we will get back our money. Isn’t it that this is guaranteed by our government? So there’s no doubt that we won’t lose our money.thank you so much for always responding to our questions.God bless you more.

  3. Hi evangeline, thanks also for commenting. Yes, Pag-ibig and SSS are government institutions, and our savings with them are government-guaranteed. Pag-ibig and SSS have had financial problems before, like bad investments and unpaid housing loans, but they surpassed them even without getting direct financial aid from the government, so that means they’re relatively strong. SSS however is said to need some more changes in order for it to be sustainable for the younger generation, specially regarding pensions. Pag-ibig is well-managed now, as they’ve been very strict with housing loan collections, and SSS is now offering its housing loans only to organized groups. Pag-ibig has just released a list of MP2 members who can claim their savings that have matured.

  4. Hi good day, is it easy to withdraw from flexi fund like at the bank when there’s family emergency?

  5. Im a member of this MP2 for Pag-ibig. I regularly deposit thru GCASH. One thing I can say with this is, checking the status of your contribution. It is Manual, you need to email pag-ibig then request for your updated statement of account. This will take you about 3-6 weeks with consistent follow-up before they can release the updated statement of account. Still, 5% to 6% dividend rates are higher than any savings account also with the current inflation that ranges is 4-5 %. Happy Investing/Saving. cheers.

  6. Hi Tonio, thanks for sharing very helpful info. It will help others. You write well, so I hope you can email also Pag-ibig and suggest that they also extend their online contribution verification service to local members. They can start with MP2, if they don’t yet have the funds for every member (those of mandatory savings). Thanks again.

  7. Hi Manuel, based on comments on online forums, no, it’s not easy. Withdrawal is not immediate. So it’s also good to save some money in a time deposit with a bank.

  8. Hello Nora, I have a question. If I register for SSS Flexi Fund in the month of December 2014, can I still make the contributions for the whole of 2014? I am an OFW and my regular contributions to SSS is in the maximum. Kindly advise.Thanks Virgilio

  9. Hi Ms Nora. Previously, MP2 account record included in the P1 everytime I access my record thru pagibig website. But since January 2015, I could no longer see the paymant I made for MP2. I wrote pagibig regarding this issue but no responce received yet. Could it be possible that pagibig separated the recod exclusively for MP2 account? Thanks for the help

  10. Hi! Ms. Nora, I start to pay my MP2 contribution last month with the amount of P1000.00, next month I want it to increase upto P4000.00, it’s possible? Is the amount shown on the table of MP2 contribution is fixed? Can I pay P600 / P800 / P1300 as long as more than P500???

  11. Hi jhoy, yes, you can. You can increase your MP2 contributions to any amount higher than 500, up to 5,000 pesos per month.

  12. Re MP2
    1. Can I make my monthly savings directly to HDMF accredited bank?
    2. How is withdrawal done in MP2?
    3. I have MID already but when I tried to enroll online, is says “no record found”

  13. Hi Raceli, if you already have your MP2 account no., make your first payment at your Pag-ibig branch, and then for the next payments, you can pay at Bayad Center or SM Business Center. Banks accept only those from employers. You withdraw your MP2 savings after 5 years. To claim, fill up the Provident claim form and present your IDs. Email to request your MID no. Include your complete name, birthdate, birthplace, address.

  14. Good day ms nora! can i contribute mp2 via online services of pag ibig? Or which accredited bank can we contribute mp2? or where can we pay mp2? Thanks and more power!

  15. Good evening po. Naguluhan po ako Kasi nag apply po ako ng mp2 at di po ako binigyan ng separate number! Every time mag deposite po ako kukuha po ako ng form duon ko I fill out for mp2 .Paano ba Malaman ng pag Ibig na I am paying pag Ibig 1 or pag ibig2 na Isa Lang account? Please I need answer. Thanks

  16. Hi, can I make additional payments to my flexi fund. I have paid in advance all my contributions for one year. Some amount was posted to flexi fund. thanks

  17. Hi frederick, were all your advance contribution payments 1,760 pesos per month? If yes, you can add to your Flexi-Fund, but there should be a note in your flexi-fund payment that maximum regular payments were already paid. I’ll see if I can see something helpful.

  18. Hi Ms. Nora. I hope everyone is doing well. I have enrolled into PAG-IBIG MP2 (investment program) last December 2014. I was just able to deposit an initial payment of P3,000 and was no longer able to continue the Monthly contribution due to financial problems. What does this entail?

    1. Would my initial contribution (P3000) incur penalties/charges?
    2. Can I still withdraw my initial payment should I wish to cancel my MP2 account? What are the requirements for me to withdraw the initial contribution?

    I appreciate your help in advance. Maraming salamat po.

    Best regards,

  19. Hi Jeff, it’s good that you’ve thought of saving. 1. There are no penalties or charges. 2. Sad to say, you cannot withdraw your 3000 before the 5-year term is reached, so there’s no cancellation with Pag-ibig. Your 3k will earn annual dividends for 5 years. I hope you overcome your financial problems soon, and improve your sources of income, so that long before the 5-year term is over, you can start adding to your initial cash-in.

  20. hi mrs nora, for example if you paid only 3 years to mp2, can you claim it even if you did not complete paying for five years? thanks a lot po.

  21. Hi pretty, yes, all your savings are yours, whether you paid 60 monthly savings or less. But since the MP2 term is 5 years, you’ll be able to claim your savings plus dividends after 5 years or 60 months.

  22. thank you for the and my co-work wants to enroll the mp2 savings and they so many questions..

  23. hi mrs nora. i have a question to ask.can i pay more than 5k per month for the mp2 program? pls repy. tnx

  24. Hi ana marie, yes, you can save more than 5k per month in your MP2 account. But remember also to save in your mandatory P1 account (200 pesos or more).

  25. thanks you so much for the so glad i found this page and i like reading the comments from here.helps me learn a lot to save money for my future..very helpful to everyone.
    i salute u miss nora;)
    god bless…

  26. Hi ana marie, thank you so much for your kind comments — they surely encourage me. Thanks for appreciating my efforts. God bless too

  27. Hi Ms Nora, I’m abroad; I started paying my SSS of 1,26.00 a month.but just 2 mons. yr. 2002; yr 2003 9 mons. w/ 6mons. flexi fund of 150.00. then yr 2004 I paid 12 months with flexi then the last 2005 just 6 mons.with flexi. now what will happen? I’m planning to continue my sss; w/ flexi next month. how about those yrs. I’d paid? can I avail it? thank you for resp. GOD BLESS

  28. Hi mariane, it’s good you plan to resume saving with SSS. You can file your request to withdraw some of your Flexi-Fund, if you really need it, when you take your vacation. But your basic contributions, you cannot withdraw. These are for your retirement benefit (when you turn 60), or maternity benefit if you give birth. It’s best if you accumulate 120 regular monthly contributions (not Flexi) or more, so you’ll qualify for pension when you turn 60. God bless too

  29. Ms. Nora, I pay my first payment under MP2 in the bayad center, I don’t know that the first payment should be paid in the Branch, what will happen now to my first payment made to Bayad Center?

  30. Hi Erric, just bring your IDs and first MP2 Bayad Center receipt and show to the Pag-ibig officer, so Pag-ibig will validate it. Pag-ibig will want to check if you’re updated with your P1 contributions. Go to the branch where your P1 contribution records are stored.

  31. I’m a member of SSS for a long time. I’ve been paying the maximum 1,560php. I also want to apply for FLEXI-FUND. please publish more info about Flexi-Fund. thank you

  32. Hi karren, glad to know you want to increase your savings. The maximum contribution since Jan 2014 is 1,760. Thanks for suggesting I publish more info about SSS Flexi-Fund. Okay, I’ll give you the link later on. Are you OFW? If yes, you can save with Flexi-Fund. This program is for OFWs only. If you like, SSS has launched another savings program for non-OFWs, called PESO. Here’s info on the SSS PESO – Personal Equity and Savings Option

  33. I’m confused about the procedure for Flexi fund. I plan to join, and I want to put at least php 10,000 per month, every time I come home; i’ll pay yearly. If I pay at the same time with my contributions, it means I’ll put 120,000 quickly into my flexi fund. It’s said there’s one time invest of 100k, so ate noors does that mean I can no longer pay because I already saved 120k in my account. I plan to save while I have good income; yearly I will invest at least 120k.

  34. And I just read in some Pinoy forum on the web that, they were experienced difficulties in withdrawing their investment from this flexi fund, which brought concerned in my part, they said it takes more than a year before SSS gave their money, is was little bit scary and disappointment in all the member who depend their future to this fund. I want some clear explanation ate noors, to ease my doubt

  35. Hi badz, sorry I waited to respond to this because I wanted to call Pag-ibig to be sure about it. What I know is you can, but you spread it out as advance payment for 3 or 6 months. If you pay this Nov, you can say that you’re paying 33,334 for each month for Oct, Nov and Dec totalling 100k. The dividend rate is applied yearly, so the dividend rate will be applied to your whole payment of 100k for the year 2015.

  36. Hi amira, there’s no limit to how much you can save in Flexi-Fund. Yes, you can save 120k every year. It’s the PESO savings scheme that’s limited to 100k per year. When you file your OW1 form here, bring your IDs and your proof that you’re OFW. About the difficulty of withdrawing one’s Flexi-Fund, I’ve read only one negative comment so far, so I’m not sure if that’s the norm. It might be good if you put some of your money with Pag-ibig MP2; withdrawing/claiming from Pag-ibig takes only about 3 weeks, based on my relatives’ experiences.

  37. Another concern from all the members Ate Nors, I learned from one article on tabloid that, according to Marissu Bugante, SSS Vice President for Public Affairs and Special Events Division, said if House Bill 5842 is approved ( increase in pension- PHP2,000 across the board), it will shorten the fund life and operations of SSS to 13 years or until 2029. So it means, that the next generation pensioner will no longer receive their monthly benefits (pension)?

  38. Hi amira, that’s the argument of SSS officials, and that’s why it’s taking the Congress a long time in approving the bill. If our lawmakers are responsible, they should check the real status of SSS funds. I think that in case SSS funds are really in danger of getting exhausted, the next SSS officials will make remedies so that SSS pensioners continue to enjoy their pensions, considering that the SSS is a government institution.

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