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Savings for Overseas Filipino Workers.
Did you know that the SSS has a special program for OFWs to save more of their hard-earned money abroad?
Why is SSS Flexi-Fund a good savings option for OFWs?
Safe and secure savings, with guaranteed earnings.
What are the benefits under the Flexi-Fund?
Accumulated funds, including interest earnings (net of management fees), to be disbursed as tax-free benefits.
Who can qualify for Flexi-Fund Membership?
Exclusive to OFW-members paying maximum contributions under the regular SSS program.
How much can OFWs contribute in Flexi-Fund?
Any amount, not lower that PhP 200, paid in excess of required SSS contributions.
Where can OFWs Pay their Flexi-Fund contributions?
Payments accepted electronically at overseas offices and tie-ups of SSS-accredited collection partners.
Who are covered under this program?
All overseas Filipino workers (OFWs) who are not over 60 years old (up to 60th birthday) with the following types:
When does the coverage of an OFW member take effect?
Coverage of an OFW takes effect upon payment of the first monthly contribution.
How does one register as an OFW (new) member?
Over-the-counter (SSS branches)
Registrants must secure a Personal Record form (SS Form E-1) at the nearest SSS branch or download from the SSS website at www.sss.gov.ph. Fill-out the form and submit it with Birth Certificate. In the absence of the Birth Certificate, submit any of the following documents:
Online (SSS website)
The monthly contributions will be based on the monthly earnings declared at the time of registration, computed in Philippine pesos.
Where will payments be made?
SSS contributions and loan amortization may be paid through any of the following accredited banks and its foreign tie-ups (i.e. remittance centers and/or money exchange houses):
What are the benefits and loan privileges of an OFW member?
OFWs are entitled to various benefits and loan privileges, provided qualifying conditions for entitlement are met. To ensure higher benefits and privileges, they can continue to pay their monthly contributions until they reach the age of 60 or 65 years old.
When are contribution payments due?
January to December contributions - anytime during the applicable year. October to December contributions - may also be paid until January 31 of the following year.
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ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.