The SSS or the Social Security System is like a pension or insurance plan for Filipino workers wherein they can be able to gain monetary benefits in case of accidents, deaths, hospitalization, and even pension when you reach their required retirement age of 60. In the case of the overseas Filipino workers, there is now what they call the SSS OFW. The SSS OFW is for overseas Filipino workers who are presently working abroad and want to be members of the SSS. This SSS OFW has certain requirements for an OFW to become a member. Below are the requirements to qualify for SSS OFW:
- are an overseas Filipino worker, are not over 60 years old and are not an SSS member yet.
- were previously covered by the SSS and have been separated from your previous employment but have not applied for voluntary membership.
The basis of contribution for an SSS OFW member is their monthly salary abroad which was declared at the time of their registration with SSS and will be computed in Philippine pesos. The monthly salary credit can be equal but not lower than P 3,000 which was based in the salary of departing OFW’s which is $ 200 which is also based with OWWA’s proposed minimum contribution for Health Care Program. Both the employee’s and employer’s share shall be paid by the OFW.
Upon arrival of the SSS OFW application for membership, the OFW or the allottee shall pay for the contribution based on the rate of contributions provided by the SSS. The payments can be made through SSS accredited collecting banks within the first five days of every month following the applicable month. In case of contract termination, the SSS OFW member may continue to pay their contributions to keep their right to full privileges and benefits.
For a more detailed info regarding the SSS OFW click HERE