Mr. Juanito Calubaquib of Tuguegarao City was able to save with Pag-ibig a total of 1.6 million pesos, the biggest ever in Pag-ibig’s 33-year history, according to a news story by Pag-ibig on its website pagibigfund.gov.ph. Accordingly, Mr. Calubaquib also earned the biggest total dividends ever, amounting to 234,000 pesos.
Last year, in 2014, Mr. Calubaquib received his Pag-ibig check in the amount of 1.2 million pesos! He mentioned that he will invest some of his money in Modified Pag-ibig 2, which offers a dividend rate higher than the rate offered by Pag-ibig 1, the mandatory savings program for employees and OFWs.
Just like many of us, Mr. Calubaquib also started with a monthly savings of 100 pesos, the mandated contribution amount for employees. But in February 2005, he decided to increase his monthly savings from 100 pesos to 1,900 pesos. What did prompt him to increase his savings? It was not said. But probably he observed that the dividend rate for Pag-ibig savings was much higher than the interest rate for bank savings accounts.
He must have been further inspired by his increasing amount of savings that in January 2009, he increased his monthly savings to 20,000 pesos per month.
The news story credited the Tuguegarao City’s Pag-ibig branch for increases in members’ contribution amounts. They have been encouraging members to contribute more than the 100-peso monthly savings and to also save in the Modified Pag-ibig 2 program.