SSS gives OFWs higher social security benefits

Written by
  • Zeny S.
  • 3 years ago

BALANGA CITY, Bataan – The Social Security System (SSS), according to its Chief Executive Aurora Ignacio will push to commit higher social security benefits to OFWs especially upon their retirement as they implement the compulsory coverage of the OFWs mandated R.A. 11199 or the Social Security Act of 2018. In a public forum, it was discussed social security protections be provided to all OFWs, however it needs to clear some laws concerning other government partners jointly mandated with SSS like the Dept. of Labor and Employment,  Phil Overseas Employment Administration and the Dept. of Foreign Affairs.

The pension fund is proposing that all land-based OFWs should pay at least a minimum monthly contribution of P960.00 which is equivalent to 12% of the new minimum monthly salary credit for OFWs of P8,000.00.
That even just paying only one month of contribution of the new minimum MSC, an OFW member can get 61 times in return for his contribution or P58,000.00 in total lump-sum benefits for disability, death or retirement plus burial assistance. If they opt to pay the highest MSC of P20,000.00 or P2,400.00 monthly contribution, the benefit amount would be P116,000.00.
Ignacio also said that sickness benefit for OFW members will also increase under the new minimum MSC from P150/day to P240 a day, same with the maternity benefit from P10,000-P13,000 to P28,000.00 under the expanded maternity leave law which took effect last March 11.

Article Tags:
Article Categories:

Comments are closed.