Thousands of overseas Filipino workers (OFWs) are expected to benefit from the recent launching of the Social Security System (SSS) in Qatar, assuring its members of pensions and various financial help like loans against salaries.
The increasing number of Filipinos leaving the Philippines to work abroad has prompted SSS to set up offices in the Middle East. There are now more than 250,000 OFWs in Qatar compared to around 20,000 in May 1992.
To avail of the benefits, SSS president Emilio De Quiros urged Filipinos to become active members by continuously paying their monthly contributions. It now has a new office just beside the Philippine Overseas Labour Office (POLO).
SSS members are classified as private workers, self-employed, OFW or voluntary. Thus payments also vary based on their salary or how much
would they want to contribute.
would they want to contribute.
De Quiros said benefits were categorised into two: short term and long term. Short-term benefits included getting financial assistance when sick or hospitalised, on giving birth and availing of salary and emergency loans. Long-term benefits included getting retirement or disability pay. In cases of a member’s death, the family will receive a pension.
“Contributions of members may differ based on their profession or capability to pay but in the future, it will be of big help to them,” he said. “Once a member, always a member.”
However, De Quiros explained that being an inactive member (non-payment of loans and monthly contributions) might affect the amount of pension or might even result to a bar on benefits in future.
He announced that a “Reformed Agenda” proposal had been forwarded to President Benigno Aquino. With its passage as a law, De Quiros said that SSS would further improve its services to its members, especially to OFWs.
Judy Frances See, senior vice president of SSS, said members should take advantage of this opportunity which provided “safe and secured savings for the future”.
She disclosed that the agency had launched a special programme for OFWs called “Flexi Fund”.
“It is called Flexi Fund because it could be withdrawn anytime especially if the member is in dire need of money or during emergency cases,” she stressed. It is a voluntary provident fund which is exclusive for OFWs and no interest will be charged from them.
The minimum monthly contribution is P1,560 (around QR140). Members could pay more but not less than P200.
It could also be withdrawn in lumpsum, half or be included in the retirement benefits to be given as monthly pension for the beneficiaries.
Aside from this feature, “Flexi Fund” contributors earn 4% dividends every year tax free, excluding its earned interest.
See also cited some of the SSS-accredited banks and financial institutions which included IRemit, PNB and Al Dar Exchange.
Ambassador Crescente Relacion, who led the launching, said many OFWs would now have the chance to update their contributions.
Culture attache Richard Billedo, labour attache Leopoldo De Jesus and his deputy, Violeta Illescas, and leaders of different Filipino organisations attended the event which was held at the new Philippine chancery in the Jelaiah area.
The ambassador and De Jesus urged the participants to inform others about the importance of updating their SSS premiums and contributions.
Earlier, the Home Development Mutual Fund, popularly known as Pag-Ibig, also urged OFWs in Qatar to register and avail of housing and other loans.
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