Carousel

Sponsored Links
SEARCH THIS SITE
JBSOLIS is a site for all about health and insurances, SSS, OWWA, PAG-IBIG, Philhealth, bank loans and cash loans, foreclosed properties, small house designs, local and overseas job listings.

Advertisement

Monday, February 18, 2019

Mandatory SSS For OFWs Now A Law

Overseas Filipino workers (OFWs) deployed in different parts of the world will be mandated by law to get SSS Coverage after Executive Secretrary Salvador Medialdea confirmed that President Rodrigo Duterte recently signed the bill that was proposed to repeal the Social Security Law.
Overseas Filipino workers (OFWs) deployed in different parts of the world will be mandated by law to get SSS Coverage after Executive Secretrary Salvador Medialdea confirmed that President Rodrigo Duterte recently signed the bill that was proposed to repeal the Social Security Law. Ads The law will give the Social Security System’s charter an overhaul as a means to ensure that the citizens contributions will be properly used for the members' benefit that will have a long-time effect. It is expected to be implemented this year. For OFWs, the new law will include mandatory SSS coverage for those under the age of 60.It also have expansion of powers of the SSS Commission to determine the monthly contribution of the members, as well as their salary credit. This added measure will soon enable SSS to increase contributions, reported GMA News. Under the revised Social security Law, unemployment insurance will also be given SSS members who will get terminated from their jobs. The SSS Commission will also be empowered to increase benefits, condone penalties, rationalize investments and invest its Reserve Funds in its aim to grow the wealth of the state pension fund.

Ads


The law will give the Social Security System’s charter an overhaul as a means to ensure that the citizens' contributions will be properly used for the members' benefit that will have a long-time effect. It is expected to be implemented this year.

For OFWs, the new law will include mandatory SSS coverage for those under the age of 60. It also has an expansion of powers of the SSS Commission to determine the monthly contribution of the members, as well as their salary credit. This added measure will soon enable SSS to increase contributions, reported GMA News.

Under the revised Social security Law, unemployment insurance will also be given SSS members who will get terminated from their jobs.
Overseas Filipino workers (OFWs) deployed in different parts of the world will be mandated by law to get SSS Coverage after Executive Secretrary Salvador Medialdea confirmed that President Rodrigo Duterte recently signed the bill that was proposed to repeal the Social Security Law. Ads The law will give the Social Security System’s charter an overhaul as a means to ensure that the citizens contributions will be properly used for the members' benefit that will have a long-time effect. It is expected to be implemented this year. For OFWs, the new law will include mandatory SSS coverage for those under the age of 60.It also have expansion of powers of the SSS Commission to determine the monthly contribution of the members, as well as their salary credit. This added measure will soon enable SSS to increase contributions, reported GMA News. Under the revised Social security Law, unemployment insurance will also be given SSS members who will get terminated from their jobs. The SSS Commission will also be empowered to increase benefits, condone penalties, rationalize investments and invest its Reserve Funds in its aim to grow the wealth of the state pension fund.

The SSS Commission will also be empowered to increase benefits, condone penalties, rationalize investments and invest its Reserve Funds in its aim to grow the wealth of the state pension fund.

Ads
Sponsored Links


In the real world, availing loans is sometimes inevitable. Financial problems often come unannounced and if you do not have enough savings, you most probably end up getting a loan from a friend, a loan company or a bank. Many overseas Filipino workers (OFW), for example, avail loans specifically designed for people working abroad and seafarers. https://www.jbsolis.com/2019/02/move-to-these-places-and-get-paid-if.html Ads In the society we live in, applying for a loan correlates to debt. In reality, loans actually help people build and establish a credit history to which banking and finance companies refer. In applying for a loan, whether from a loan company or from a bank, having a good credit history helps you to be approved quickly. However, there are many types of loans designed for specific needs. Terms and conditions in each type are also different. In this article, we will break down for you the types of loans and help you decide which ones do you need. OFW loan – OFW loans work similarly as personal loans but are specifically offered to overseas Filipino workers with valid contracts. A co-borrower or immediate relative based in the Philippines is required. It usually has flexible payment terms to accommodate the specific needs of OFWs and their families. Personal loan – Personal loans are usually unsecured loans, which means it’s based purely on an individual’s credit score and does not require any collateral, unlike secured loans. The interest rates may range from 1.2 percent to 8 percent, depending on the financial institution. Payment terms are typically shorter, from six to 60 months. Car loan – Car loans are for people who don’t have enough cash to shoulder the full purchase of a vehicle. It has flexible payment terms of three to five years. To apply for a car loan, simply submit valid IDs and proof of income to get pre-approved. It may be required to have the down payment for the car to get approved. Business loan – Business loans can be used for a new business or the expansion of an existing one. Examples are line credit, equipment loan, and conventional business loan. Terms depend on the nature of the business and the agreement between the borrower and the lender. Home loan – Housing loan interest rates are decided between the borrower and the financial institution, with payment terms ranging from five to 30 years. The lender maintains property rights as collateral, and an appraisal fee typically applies. Credit cards or cash advances – Cash advances are short-term loans with higher interest rates and are typically paid for the following month. Some credit card companies offer longer terms, from three to 12 months. The amount a person can borrow depends on their credit limit.
In the real world, availing loans is sometimes inevitable. Financial problems often come unannounced and if you do not have enough savings, you most probably end up getting a loan from a friend, a loan company or a bank. Many overseas Filipino workers (OFW), for example, avail loans specifically designed for people working abroad and seafarers. https://www.jbsolis.com/2019/02/move-to-these-places-and-get-paid-if.html Ads In the society we live in, applying for a loan correlates to debt. In reality, loans actually help people build and establish a credit history to which banking and finance companies refer. In applying for a loan, whether from a loan company or from a bank, having a good credit history helps you to be approved quickly. However, there are many types of loans designed for specific needs. Terms and conditions in each type are also different. In this article, we will break down for you the types of loans and help you decide which ones do you need. OFW loan – OFW loans work similarly as personal loans but are specifically offered to overseas Filipino workers with valid contracts. A co-borrower or immediate relative based in the Philippines is required. It usually has flexible payment terms to accommodate the specific needs of OFWs and their families. Personal loan – Personal loans are usually unsecured loans, which means it’s based purely on an individual’s credit score and does not require any collateral, unlike secured loans. The interest rates may range from 1.2 percent to 8 percent, depending on the financial institution. Payment terms are typically shorter, from six to 60 months. Car loan – Car loans are for people who don’t have enough cash to shoulder the full purchase of a vehicle. It has flexible payment terms of three to five years. To apply for a car loan, simply submit valid IDs and proof of income to get pre-approved. It may be required to have the down payment for the car to get approved. Business loan – Business loans can be used for a new business or the expansion of an existing one. Examples are line credit, equipment loan, and conventional business loan. Terms depend on the nature of the business and the agreement between the borrower and the lender. Home loan – Housing loan interest rates are decided between the borrower and the financial institution, with payment terms ranging from five to 30 years. The lender maintains property rights as collateral, and an appraisal fee typically applies. Credit cards or cash advances – Cash advances are short-term loans with higher interest rates and are typically paid for the following month. Some credit card companies offer longer terms, from three to 12 months. The amount a person can borrow depends on their credit limit.
©2019 THOUGHTSKOTO
Tags , , ,