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Oct 08 17, 11:30 am

SSS set to require OFW membership

by | News

Oct. 08, 17 | 11:30 am

Overseas Filipino Workers (OFWs) will soon be required to apply for membership, and contribute to the Social Security System (SSS) should the SSS amended charter be passed by year-end.

Among the over 14 million SSS members, only about 550,000 are OFWs. However, if the amended SSS charter will be passed into law, between 9 to 10 million more OFWs will be mandated by law to contribute to SSS by January next year.

“We are pushing for our OFWs to be covered on a mandatory basis in order to secure their basic safety net in time of contingencies. Their SSS contributions are essentially a form of long-term savings for the future, especially when they decide to return home and retire,” Davao Today quoted SSS President Emmanuel Dooc as saying.

SSS also expects total contributions to further expand with the addition of higher contributions from well-earning Filipinos abroad.

Dooc remains optimistic that the amended charter will be passed as it is among the priority bills of the Legislative-Executive Development Advisory Council, Inquirer.net reported.

Source: Inquirer.net and Davao Today

Photo credit: Wikipedia

 

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The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

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