Last Updated on 2 months by DiaryNiGracia
As of May 2021, the Social Security System has recorded 1.34 million OFW members which is higher by 11 .5% from the same period last 2020. This shows how Filipinos strive to provide for their family despite the pandemic.
As SSS President and Chief Executive Officer Aurora C. Ignacio had said, these modern-day heroes contribute a huge part to our country’s economy, in return, SSS should also do its part to protect and provide them a safety net in times of contingencies to ensure that their hard-earned income can turn into a gainful investment in the long run.
OFW coverage of SSS started in 1995 when it was still under voluntary membership and was turned into mandatory under Republic Act 8042. Under the SSS coverage for OFWs, sea-based and land-based OFWs with age not above 60 are entitled to lifelong benefits such as sickness, maternity, disability, unemployment, retirement, death, and funeral. They are also entitled to various types of loan programs such as salary, calamity, educational, housing improvement, and pension loans. Moreover, they can also apply for short-term member and housing loans if the qualifying conditions are met.
As the data from the Philippine Statistics Authority has shown, as of April to September 2019, there are 2.2 million OFWs. With this in mind, SSS is doubling its effort to reach out to the remaining portion of OFWs and offer them the financial security they need especially in these trying times.
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