Being a member of Social Security System (SSS) we are entitled to different benefits such as Maternity, Sickness, Retirement, Death and Disability Benefits. But for Overseas Filipino Workers (OFW) SSS has another program that will give you benefit especially for your future or retirement.
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OFWs are always advised to save for their own future aside from the money they send to their loved-one at home. Under the SSS Flexi Fund, you can save at the same time let your money grow.
What is SSS Flexi Fund and Why It's a Good Savings-Investment Option?
The SSS Flexi Fund is safe and secure saving, with guaranteed earnings
A provident fund scheme designed to supplement pension benefits under the regular SSS program.
Funds invested in fixed income securities, thus more transparent and risk-free.
Better yielding since interest rates are based on average rates of SSS’ short-term peso placements or 91-day Treasury bills, whichever is higher.
Flexi Fund Program offers an extra level of financial security to OFWs who are members of the SSS paying the monthly contributions by enabling them to remit additional savings of P200 or above.
This program encourages OFWs to save money in order to supplement their retirement needs.
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Who is allowed to enroll in this Program?
All overseas Filipino workers (OFW) who are not over 60 years old
What are the Benefits of the Flexi Fund?
Accumulated funds, including interest earnings (net or management fee), to be disbursed as tax-free benefits;
For member’s retirement, disability, and death
Early withdrawal allowed any time for urgent cash needs (with pre-termination fees if less than 1-year retention)
Granting of Annual Incentive Benefits (AIB) to qualified active members.
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How much can OFWs contribute to Flexi Fund?
Any amount not lower than P200 paid in excess of required SSS contributions
Automatically credited to member’s Flexi Fund account once enrolled
No initial deposit or maintain balance requirement, and also no prescribed ceiling on contribution amounts
Payment anytime, depending on capacity to save
Where can OFWs pay their Flexi Fund contributions?
Payments accepted electronically at overseas offices and tie-ups of SSS accredited collection partners
Options for members to remit, thru relatives in the Philippines, at SSS Branch tellers and other accredited channels.
Payment thru Internet and auto debit arrangements also available for account holders of participating banks.
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How to apply for SSS Flexi Fund?
First - Fill out the Flexi Fund Enrollment Form. This is available in the SSS website. You can print it and fill out at home. Form is also available on SSS branches.
Second - Submit your filled out form to SSS branches near your, weather local of foreign.
Third - Present your UMID/SSS ID card or valid passport for proper identification.
You need to present and submit the original and photocopy of valid Overseas Employment Certificate (OEC) or e-receipt issued by POEA as proof of pending deployment. In case that the latest maximum contribution is not yet posted, you need to present a validated proof of payment.
For more information, you may watch the videos above or inquire in the nearest SSS office in your area.
OFW Hospital for our "Bagong Bayani " is one of the many programs that Duterte's Administration promised to the Overseas Filipinos. It is also his most mentioned plan on his recent visits to countries where most numbers of OFWs resides, countries like the Middle East, Malaysia, Thailand to name a few. With the video below, we can say that it is closer to having an OFW Hospital.
In a recent interview done by RJ Nieto a.k.a. "Thinking Pinoy" to Mario Espinosa, the President, and CEO of PNCC (Philippine National Construction Corporation), a government corporation under the Office of the President, he mentioned the proposals. He is one of the many spearheading the project. According to his interview, the proposed hospital will be later called 'Bagong Bayani Medical Institute'. The hospital building will be constructed in a one-hectare land located at Macapagal Blvd. near GSIS Building in Pasay City.
The 16 stories building will not only comprise of hospital floors but of facilities such as Operating room, Ob-Gyne, Special Laboratory, Chapel, Emergency Room and Pharmacy, 406 rooms are expected. According to Mario Espinosa the OFWs and their families can expect a high-end hospital in tribute to our new heroes. There will be an attached agencies that will be nearby the hospital such as OWWA, Philhealth, NSO, passport renewal and the like that will give ease to the OFWs.
The Chinese investors and PNCC had already signed the Memorandum of Understanding (MOU) to materialize the plan. From the feasibility studies, he showed to RJ Nieto, only the signature of the President and other legalities is need to start the project.
Here are someuseful information regarding SSS and how OFW members can benefit from it. This question and answers might provide enlightenment for queries you probably have in mind at the moment.
What is SSS OFW Coverage Program? It is a program of SSS that covers all OFWs with ages below 60 years old. It was established since 1995 to address the growing number of OFWs who are not members of the SSS.
Can an OFW that is presently 59 years old can still apply for membership? Yes. They can still be a member but their pension will start only after they had completed 120 months full contributions.
The OFW coverage will start upon payment of contribution; what does it mean? OFW membership is considered voluntary in nature since they do not have an employer in the Philippines. Their first payment of the contribution determines the beginning of their coverage date as a member of the SSS.
How do OFWs register to SSS? You can now easily download an application form or Personal data record online viawww.sss.gov.phor you can visit the nearest SSS office in your area. Fill out and submit the form together with the following documents:
Birth Certificate
Baptismal Certificate
Passport
Driver's License
PRC Card
How much will be the contribution? It depends on the declared monthly income on the time of application. However, for OFWs, the minimum salary bracket starts from PHP 5,000.00 or a monthly contribution of PHP 550.00 * The bigger the monthly contribution you make, the bigger your benefits will be.
Are the benefits for OFWs different from other members of SSS? No. Benefits and privileges of the OFWs are similar to what other regular members will get except for the Employees Compensation. Since OFWs do not have local employers in the Philippines, they are not entitled to receive Employees Compensation.
Can OFWs apply for a housing loan from SSS? Yes. SSS has a special program allowing OFWs to borrow money for housing or the SSS Housing Loan.
Where can OFWs pay their monthly SSS contributions and amortizations? You can pay at any SSS payment channels like he following: Asia United Bank Bank Of Commerce Iremit Ventaja Lucky Money Philippine National Bank Sky Freight
What are the benefits that the OFWs can get from SSS? All qualified OFWs are entitled to the following benefits: Sickness, maternity, disability, retirement, death, and funeral benefits.
Is there a special consideration for the OFWs in paying SSS contributions? Yes. All payments for the month of January to December can be paid any time within the year. Contributions for the month of October to December can be paid up to January 31 the following year. OFWs can also continue paying their contribution until they reach 60-65 years of age. For further information, you can visit their website at sss.gov.ph or go to the nearest SSS office near you.
Senator Sonny Angara has hailed the signing into law of a bill that institutionalizes and strengthens the government's support to overseas Filipino workers (OFWs) and their families by introducing reforms to the Overseas Workers Welfare Administration (OWWA).
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GREATER GOVT SUPPORT, MORE FUNDS FOR OFW WELFARE PROGRAMS UNDER NEW OWWA LAW - ANGARA
Senator Sonny Angara has hailed the signing into law of a bill that institutionalizes and strengthens the government's support to overseas Filipino workers (OFWs) and their families by introducing reforms to the Overseas Workers Welfare Administration (OWWA).
"Nagpapasalamat po ako sa ating Pangulong Aquino at sa ating mga kasamahan sa Senado at Kongreso sa pagpasa ng batas na ito na naglalayong palakasin ang mandato ng OWWA upang mas matugunan ang mga pangangailangan ng ating mga dakilang OFW at ang kanilang mga pamilya," said Angara, acting chairman of the Senate labor committee and sponsor and one of the authors of the new OWWA law.
Under Republic Act 10801, OWWA is declared as a national government agency and an attached agency of the Department of Labor and Employment, and would now receive government funding instead of relying solely from the contributions of its OFW members.
The recently enacted law also mandates greater representation of OFWs in the OWWA Board of Trustees by increasing the number of representatives from the OFW sector from the present three to five (two from land-based OFWs, two from sea-based OFWs and one from the women sector) while representatives from the government will be reduced from seven to six.
"As the principal agency of the government that serves and promotes the rights, interest and welfare of OFWs and their families, the composition of the OWWA Board of Trustees must be reformed to really represent the OFW sector. Sa ilalim ng batas na ito, higit nang mabibigyan ng boses ang ating 2.4 milyong OFWs sa kung saan mapupunta ang pondo ng OWWA at sa kung anong programa at serbisyo ang dapat bigyang prayoridad at lalo pang paigtingin," Angara said.
RA 10801 further boosts the government's capacity to assist migrant workers who lost their jobs by making the reintegration of OFWs one of the core programs of OWWA, which will be funded with not less than 10 percent of the total collection every year.
The reintegration program includes granting of loans and other financial support, trainings on financial literacy, entrepreneurial development, techno-skills, business counseling as well as job referrals for both local and overseas employment.
The new law also seeks to ensure transparency in the utilization and management of the OWWA funds, and mandates the OWWA to maintain an interactive website to collect OFW feedback, comments, suggestions and complaints on existing programs and services.
"Gaano man kalayo ang mga OFW sa ating bansa, nais nating iparamdam sa kanila, sa pamamagitan ng batas na ito, na mayroon tayong gobyerno na nakikinig at agad tumutugon sa kanilang mga hinaing at problema. We should better equip and strengthen the OWWA so it can truly fulfill its special duty of developing and implementing welfare programs and services that respond to the needs of its member-OFWs and their families," Angara said.
THE FULL ARTICLE REGARDING BENEFITS AS STATED IN THE REPUBLIC ACT or RA 10801
OWWA BENEFITS AND SERVICES
SEC. 34. Guiding Principles. – Pursuant to its mandate, the OWWA shall provide gender-responsive reintegration programs, repatriation assistance, loan and credit assistance, on-site workers assistance, death and disability benefits, health care benefits, education and skills training, social services, family welfare assistance, programs and services for women migrant workers and other appropriate programs that provide timely social and economic services.
Nothing in this Act shall be construed as a limitation or denial of the right of an OFW to avail of any benefit plan which may be adopted in the employment contract, or offered voluntarily by employers, or by the laws of the receiving country, over and above those provided under this Act.
SEC. 35. Benefits and Services to OFWs. –
(a) Reintegration of OFWs. – The reintegration of OFWs, taking into consideration the needs of women migrant workers, shall be one of the core programs of the OWWA. In this regard, and for purposes of policy and program coordination, the National Reintegration Center for OFWs created under Republic Act No. 10022 shall be an attached office of the OWWA. It shall be headed by an Executive Director who shall be under the supervision of the OWWA Administrator.
To be able to sustain the viability of this program, not less than ten percent (10%) of OWWA’s collection of contribution for the immediately preceding year shall be allocated annually for the reintegration program,
(b) Repatriation Assistance. – Consistent with the provisions of Republic Act No. 8042, as amended, the OWWA shall assist the Department of Foreign Affairs in providing OFWs with services necessary to facilitate repatriation, as may be required.
(c) Loan and Other Credit Assistance. – The OWWA shall provide low-interest loans to member-OFWs. It shall have the authority to hire experts in finance or banking to assist in implementing the said loan programs.
(d) Workers Assistance and On-site Services. – The OWWA shall sustain and maintain assistance to member-OFWs in all its overseas and regional offices. Services shall be gender-responsive and shall include information regarding the names, occupation/job categories and addresses of the member-OFWs; legal assistance providing guidance and information on protection of migrant rights, including the prevention of gender-based violence; developing materials for the predeparture orientation seminars; conducting psycho-social counseling services; conciliation services; appropriate services and intervention for victims of gender-based violence, and outreach missions, among others. The OWWA shall likewise make competent representations with employers, agents, and host government authorities to assist member-OFWs in obtaining relief from grievances and work-related issues, including claims for unpaid wages, and illegal recruitment cases among others.
(e) Social Benefits. – A member-OFW shall be covered with the following social benefits:
(1) Death and Disability Benefits:
(i) Death Benefits. – A member shall be covered with life insurance for the duration of his or her employment contract. The coverage shall include one hundred thousand pesos (P100,000.00) for natural death and two hundred thousand pesos (P200,000.00) for accidental death;
(ii) Disability and Dismemberment Benefits. – Disability and dismemberment benefits shall be included in a member’s life insurance policy, as provided for in the impediment schedule contained in the OWWA Manual of Systems and Procedures. The coverage is within the range of two thousand pesos (P2,000.00) to fifty thousand pesos (P50,000.00);
(iii) Total Disability Benefit. – In case of total permanent disability, a member shall be entitled to one hundred thousand pesos (P100,000.00); and
(iv) Burial Benefit. – A burial benefit of twenty thousand pesos (P20,000.00) shall be provided in case of the member’s death.
Based on actuarial studies, the Board may increase the amount of the abovementioned benefits.
(2) Health Care Benefits. – Within two (2) years from the effectivity of this Act, the OWWA shall develop and implement health care programs for the benefit of member-OFWs and their families, taking into consideration the health care needs of women as provided for in Republic Act No. 9710, or the Magna Carta of Women, and other relevant laws.
(3) Education and Training Benefits. – A member, or the member’s designated beneficiary, may avail any of the following scholarship programs, subject to a selection process and accreditation of participating institutions:
(i) Skills-for-Employment Scholarship Program. – For technical or vocational training scholarship;
(ii) Education for Development Scholarship Program. – For baccalaureate programs; and
(iii) Seafarers’ Upgrading Program. – To ensure the competitive advantage of Filipino seafarers in meeting competency standards, as required by the International Maritime Organization (IMO), International Labor Organization (ILO) conventions, treaties and agreements, sea-based members shall be entitled to one upgrading program for every three (3) membership contributions.
The annual scholarship lists of all these programs shall be submitted to the Board.
SEC. 36. New Programs, Interactive Website and Extension of Services. – The OWWA shall continue to develop and implement new programs to meet new OFW needs and requirements as they arise, and to assess the effectiveness of existing services and benefits in serving the welfare of OFWs.
The OWWA shall also maintain an interactive website to collect OFW feedbacks, comments, suggestions, and complaints on existing programs and services.
The OWWA may also extend appropriate programs or services to non-members, as may be determined by the Board.
