THE Pag-IBIG Fund members have collectively saved a record P28.75 billion, setting the highest amount ever saved in the agency's history during a first quarter.

This represents a 36 percent increase, or roughly P7.66 billion more than the P21.09 billion saved during the same period in 2023, said Housing Secretary Jose Rizalino Acuzar.

He said the Pag-IBIG Regular Savings, which saw a 25 percent increase from P10.58 billion in the first quarter of 2023 to P13.19 billion this year, largely contributed to the total savings collection.

"Our strong savings collections reflect the trust and confidence our members place in us, along with our ability to prudently manage their savings," Acuzar said in a statement.

"Pag-IBIG Fund's strong financial position enables it to offer low interest rates and support the financing side of the Pambansang Pabahay Para sa Pilipino (4PH) program, a flagship program of President Ferdinand Marcos Jr.," he said.

Only recently, Pag-IBIG Fund released another P101.5 million worth of developmental loans for a housing project in Bocaue, Bulacan, which is part of the 4PH.

Acuzar said the fund was intended to finance the on-going development and construction of the Bocaue Bulacan Manor (BBM) housing project in Barangay Batia for its residents and government employees.

Situated on a sprawling 14-hectare site, the project will have five multi-level condominium buildings, each with 14 floors. A total of 1,888 families are expected to benefit from the initiative, Acuzar said.

In February, Pag-IBIG Fund implemented the new mandatory monthly savings rate of P200 for both the employees and employers' share.

The increase was the first that Pag-IBIG Fund implemented since it was established in 1986.

Pag-IBIG Fund Chief Executive Officer Marilene Acosta said that the agency's popular MP2 Savings continues to drive the growth of its members' savings.

She said the voluntary savings program maintained its growth, with members saving a record-high P15.56 billion, which accounted for 54 percent of the total savings collected in the quarter.