Grab Philippines’ Pag-IBIG partnership helped thousands of gig-workers start saving for their future

Grab’s 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.

Long-term savings are an important component of financial security for anyone, both full-time employees and gig-workers. That’s 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.

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 from Pag-IBIG’s partner merchants, including on food, education, and gas, among others.

Pag-IBIG’s MP2: an enhanced plan with more flexibility

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.

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 In an emergency, savings can be withdrawn before the five-year maturity period.

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

Enticing people to save through smart collaborations

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. 

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.

We understand the importance of educating partners about the benefits of social protection and  actively helped facilitate the membership registration of driver-partners to the Fund. 

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.

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.

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. 

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’s Asenso Rider Raffle Promo, including the grand prize of a brand-new 400cc motorbike.

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

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’ lack of awareness.

Grab works closely with national social protection agencies to forge win-win partnerships that  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.