Last August 6, 2018, the Congress together with Senator Richard Gordon as the principal author, enjoined Social Security System (SSS) to cooperate with Department of Labor and Employment (DOLE) and Department of Foreign Affairs (DFA) to secure the Social Security Coverage of Overseas Filipino workers.
In line with the proposed amendment under Senate Bill 1753, SSS President and Chief Executive Officer Emmanuel F. Dooc stated that this proposed SSS charter will be very beneficial to OFWs.
According to SSS President and CEO Dooc, Out of 2 million OFW’s all over the world, there are only 583,000 active contributors. Dooc, working hand in hand with the Social Security Champion In Senate, Sen. Richard Gordon, Aims to ensure that every Filipinos around the world are protected under the SSS. Dooc also said that their goal requires hard work and immense cooperation with DFA and DOLE.
The Sponsor of The Senate Bill 1753, Senator Gordon committed to ensuring that the mandatory coverage for OFW’s will be implemented accordingly by SSS. The officials of the pension funds together with Sen. Gordon stressed that bilateral agreement with different countries around the world will be helpful in implementing the bill.
According to Sen. Gordon, as of August 6, 2018, we only have 13 countries who agreed to have a treaty with our country. The treaty aims to protect OFW’s around the world. Australia, UK and Northern Ireland, Spain, France, Canada, Quebec, Netherlands, Switzerland, Belgium, Denmark, Portugal, Germany and Japan are the 13 states who agreed to have bilateral social security agreements with our country.
Senator Gordon said that under Universal Declaration of Human Rights, every Filipino shall not be deprived to have Social Security, for it is part of our constitutional rights. Moreover, Dooc also stated that giving the means to save for OFW’s retirement, is the main purpose of the proposed bill. For at least P5.00 of OFW’s contributions, they will be entitled to lifetime SSS pension benefits.
As stated by Dooc, a maximum contribution of P1, 760 for at least 10 years will make an OFW eligible to a vast range of SSS benefits and privileges. Those SSS benefits and privileges are as follows:
- At least P6, 400 basic monthly pensions upon retirement, disability or death.
- 13th-month pension, dependents pension, and P500 monthly supplemental allowance for pensioners with a disability.
- Up to 56,600 per year cash allowance for sickness. Maternity benefits up to P32, 000 for normal delivery or miscarriage and P41,600 for cesarean delivery.
- At least P20, 000 funeral assistance.
- Up to P32, 000 salary loan and up to P2-million direct housing loan.
- In case the member passes away, the spouse and the dependent children of the contributor will get the 100% of their pension.
- For retired members who are unable to complete 10 years of contributions, a refund plus interest will be given.
SSS offers a provident fund scheme that is exclusively available for OFWs. This fund scheme allows their OFW members to save additional part of their income and increase the interest.
As Dooc stated,
“SSS contributions are OFW’s long-term saving for the future, especially when they eventually decide to return home and stay for good to retire”.