Saturday, August 17, 2019

Feb 19 19, 2:15 pm

Woman jailed in Dubai after biting off victim’s lips

A 29-year-old woman was sentenced to three months in jail in Dubai after biting the lip of the victim following a heated argument between the two. The woman was charged with physical assault after medical reports confirmed that the shape of the victim’s lips had been...

All you need to know: Benefits of mandatory SSS coverage for OFWs

by | News, TOP STORIES

Feb. 19, 19 | 2:15 pm

President Rodrigo Duterte recently signed into law the bill requiring Social Security Systems (SSS) coverage to all overseas Filipino workers (OFWs) under the age of 60.

According to the detailed version of the law, all land-based and sea-based OFWs under the age of 60 are covered by the law, as per the provisions of the Migrant Workers and Overseas Filipinos Act of 1995.

For sea-based OFWs, their manning agency will serve as their employers while land-based OFWs will be considered as compulsory members of the SSS.

Will OFWs’ employers have their share too in the monthly contribution?

Under the law, the Department of Foreign Affairs (DFA), the Department of Labor and Employment (DOLE), and all Philippine-offices abroad tasked to look after Filipinos there are mandated to be able to secure bilateral agreements with the OFWs’ host countries which would require OFWs’ employers to pay their share of the contribution.

“[OFWs] shall be considered as compulsorily covered employees with employer and employee shares in contributions that shall be provided for in the bilateral labor agreements and their implementing administrative agreements,” a portion of the law reads.

Employer shares to the OFW’s contribution begins on the first day of the worker’s employment.

What if an OFW’s overseas contract ends?

OFWs may still opt to continue paying their SSS contributions on a voluntary basis for them to receive full benefits.

When an OFW’s contract with his/her employer ends, the employers are only obliged to pay for their shares until the end of the month of the separation.

How much is the monthly pension of an OFW SSS member after retirement?

The monthly pension shall be the highest of the three:

a) P300 + (20% x Average Monthly Salary Credit) + (2% x Average Monthly Salary Credit) x (Credited Years of Service – 10);
b) 40% x Average Monthly Salary Credit;
c) The minimum pension of P1,200, if with at least 10 Credited Years of Service; or P2,400, if with at least 20 Credited Years of Service, whichever is applicable

What are the other benefits of being an SSS member?

Aside from the monthly pension, OFW members are also entitled of the following benefits:

Retirement benefits
Death benefits
Permanent disability benefits
Funeral benefit
Sickness benefit
Maternity leave benefit
Unemployment insurance or involuntary separation benefits

Any concrete samples?

SSS President and Chief Executive Officer Emmanuel F. Dooc said that if an OFW is paying the maximum monthly SSS contribution of Php1,760 (Dh121.8) for at least 10 years, he/she will be entitled to the following:

– Basic monthly pension amounting to at least P6,400 upon retirement, disability or death, with an additional monthly benefit of P1,000
– Other benefits for pensioners like 13th month pension, dependents pension, and supplemental monthly allowance of P500 for disability pensioners
– Short-term benefits in the form of cash allowances for sickness (up to P57,600 per year)
– Maternity allowance for female members (up to P32,000 for normal delivery/miscarriage and P41,600 for caesarian delivery)
– Funeral grant amounting to at least P20,000
– Salary loan of up to P32,000
– Direct housing loan of up to P2-million
– In case of death, 100% of their pension will be transferred to their spouse and dependent children as primary beneficiaries

OFW, SSS

Jobs

Editors Choice

Oplan: Iwas Phone Scam

Oplan: Iwas Phone Scam

A Filipina duped out of her cash amounting to more than Dh20,000 made headlines in May this year. It sent shockwaves to Filipinos and other expats on how it is so easy for a phone scammer to siphon off their cash in a blink of an eye. But this particular incident is a...

Malacañang lifts suspension on PCSO lotto operations

Malacañang lifts suspension on PCSO lotto operations

Presidential Spokesperson Sal Panelo confirmed that President Rodrigo Duterte has lifted the suspension of Philippine Charity Sweepstakes Office (PCSO) for lotto operations only. "The Lotto operation is less-prone to corruption because it is machine-operated. Maraming...

7 out of 10 Pinoys want to bring their families to UAE

7 out of 10 Pinoys want to bring their families to UAE

About 70% of the Filipinos working in the UAE whose salaries are within the new immigration bracket are planning to bring their families here. This was according to the recent poll conducted by The Filipino Times to 820 people, a few days after the re§cent...

Mastering managing business in 8 months

LBC partnered with the Philippine Business Council (PBC) Dubai and the Northern Emirates and launched their inaugural business fellowship to discover the entrepreneurial spirit among Filipinos, aiming to empower and to transform the mindset of overseas workers. The...

Recent posts

We listed over 1,000,000 jobs from United Arab Emirates monthly.

Accomodation option available in the market.

Latest News
Subscribe to our free weekly newsletter and never miss a thing. No spam. Only hand-picked trending news.

THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

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

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

FOLLOW US

SIGN UP FOR NEWSLETTER

THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

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

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

FOLLOW US

SIGN UP FOR NEWSLETTER

© 2018 The Filipino Times. All rights reserved

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

More in News, TOP STORIES
Baby falls out 10th floor window of Ras Al Khaimah building
Published On  February 19, 2019
Chinese national nabbed for illegal recruitment of aspiring OFWs
Published On  February 19, 2019
UAE calls visit visa applicants to submit complete documents
Published On  February 19, 2019
Close