{"id":210726,"date":"2024-04-12T18:19:59","date_gmt":"2024-04-12T10:19:59","guid":{"rendered":"https:\/\/www.grab.com\/sg\/?post_type=editorial&p=210726"},"modified":"2025-02-26T18:36:51","modified_gmt":"2025-02-26T10:36:51","slug":"grab-philippines-pag-ibig-partnership-helped-thousands-of-gig-workers-start-saving-for-their-future","status":"publish","type":"editorial","link":"https:\/\/www.grab.com\/sg\/inside-grab\/stories\/grab-philippines-pag-ibig-partnership-helped-thousands-of-gig-workers-start-saving-for-their-future\/","title":{"rendered":"Grab Philippines\u2019 Pag-IBIG partnership helped thousands of gig-workers start saving for their future"},"content":{"rendered":"\t\t
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Grab\u2019s driver-partners enjoy flexibility and autonomy as self-employed gig-workers. However, they may be less aware about their options when it comes to long-term savings schemes that are available to them, for goals such as saving up for a house. Full-time employees are often enrolled in such schemes through their employer, which is not an option for gig-workers.<\/p>

Long-term savings are an important component of financial security for anyone, both full-time employees and gig-workers. That\u2019s why, in the Philippines, we work with a national government agency, the Home Development Mutual Fund (HDMF) or more popularly known as the Pag-IBIG Fund, to provide our driver-partners easy access to long-term savings programmes.<\/p>

The goal was to show our driver-partners that attractive savings options are available to them. By enrolling into Pag-IBIG on a voluntary basis, they can use their earnings to achieve better savings returns, tap low-interest home loans, and access big discounts<\/a> from Pag-IBIG’s partner merchants, including on food, education, and gas, among others.<\/p>

Pag-IBIG\u2019s MP2: an enhanced plan with more flexibility<\/h5>

The Pag-IBIG Fund helps workers in the Philippines save for their future and get access to affordable home financing. Membership into Pag-IBIG is mandatory for most workers in formal employment. This means many employees in the Philippines contribute to Pag-IBIG by having a part of their salary automatically deducted whenever they are paid.<\/p>

These benefits are also available to self-employed gig-workers. The difference is that they have to enrol and make contributions on their own initiative. In addition, Pag-IBIG has an enhanced MP2 Savings programme with a five-year maturity, designed for Pag-IBIG Fund members who wish to save more and earn even higher dividends, rates which were as high as 7.05% in 2023, half a percentage more than the regular savings every year, which can compound. The MP2 Savings plan is particularly attractive to those who wish to save long-term while retaining flexibility. In an emergency, savings can be withdrawn before the five-year maturity period.<\/p>

Even as Grab driver-partners earn to support themselves and their families, many were simply not aware of the whys<\/i> and hows<\/i> of contributing to Pag-IBIG, and how this will help them secure a better financial future.\u00a0<\/p>

Enticing people to save through smart collaborations<\/h5>

To raise awareness, Pag-IBIG launched the Asenso Rider Raffle Promo last year to encourage gig drivers and riders to become members. It offered numerous prizes like cash, smartphones, and even a brand-new motorcycle in three raffles over the span of six months, with several categories per region, so that winners came from all over the Philippines.\u00a0<\/p>

Grab worked closely with Pag-IBIG to spread word about the Raffle, which included shout-outs on driver-partner groups online, and on our social media channels.<\/p>

We understand the importance of educating partners about the benefits of social protection and\u00a0 actively helped facilitate the membership registration of driver-partners to the Fund.\u00a0<\/p>

Over the last year, Pag-IBIG speakers gave talks about the programme at various forums and events organised for our driver-partners. Those interested were able to sign up immediately, pay their monthly contributions and\/or process loan applications at the Pag-IBIG booth at the event.<\/p>

Pag-IBIG was also allocated a space at the Grab Driver Center for two months. This made it possible for driver-partners who frequent the Center to learn about Pag-IBIG, make their contributions, and find out about the MP2 Savings programme that can help them benefit even more for the future.<\/p>

In addition, we sent out weekly social media outreach posts, targeted at driver-partner groups, reminding them to make their contributions. These posts also served to inform them of benefits, such as discounts through a loyalty card.\u00a0<\/p>

The results of these efforts were clear, with thousands of sign-ups to Pag-IBIG in the second half of 2023. Some of our Grab Philippines driver-partners were lucky enough to win prizes through Pag-IBIG\u2019s Asenso Rider Raffle Promo, including the grand prize of a brand-new 400cc motorbike.<\/p>

The winner, Mr. Renante Rabanes\u2014who is a student by day, and delivery rider when not studying\u2014is a clear example of someone who learnt about the benefits of Pag-IBIG through Grab.<\/p>

The success of such initiatives are important milestones for Grab, not only in the Philippines but also across the region. In many countries, national social protection schemes for gig-workers exist, but enrolment in them is low due to gig-workers\u2019 lack of awareness.<\/p>

Grab works closely with national social protection agencies to forge win-win partnerships that\u00a0 benefit all parties, especially driver-partners who get a chance at a more assured future. Our goal is to create livelihoods that are sustainable, and to empower gig-workers with access to social protection. We will continue to pursue opportunities to work with governments across the region to achieve that.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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