THE House of Representatives has backed a measure providing retirement benefits and welfare assistance to Overseas Filipino Workers.
This, as the House committee on overseas workers affairs, chaired by Rep. Jesulito Manalo of ANGKLA party-list, created a technical working group to consolidate three bills to that effect.
The bills were House Bill 3746 authored by Rep. Rodante Marcoleta of SAGIP party-list which calls for the creation of an Overseas Filipino Workers Social Security and Retirement System; HB 547 by Rep. Gary Alejano of Magdalo party-list which creates the Overseas Filipino Workers Pension Fund; and HB 7228 by Rep. Winston Castelo of Quezon City providing for the protection of OFW dependents by setting up for them a special pension fund in the event of income loss due to death or disability.
HB 3746 calls for the creation of an Overseas Filipino Workers Retirement Fund System and an OFW Retirement Fund, which shall be used to provide retirement benefits and similar gratuities to OFWs and their beneficiaries.
The bill requires all OFWs duly registered with the Philippine Overseas Employment Administration to remit 5 percent of their gross monthly income for at least 10 years.
Aside fron the monthly contribution of the OFWs to the Fund, the Fund shall be financed from the following sources: 10 percent from fees charged by Philippine international airports to outgoing OFWs; 10 percent from fees charged by medical testing centers which shall provide medical tests to overseas job-applicants; 10 percent from fees charged by OFW training centers; and P50 million annually for five years to be appropriated and be taken from the Contingency Fund of the Office of the President to complement the Overseas Filipino Workers Fund’s Reserve.
Marcoleta noted that at present the Social Security System program for OFWs offered limited pension benefits which mature only at the age of 60.
However, he pointed out that OFWs such as domestic helpers and construction workers usually find reemployment difficult at the age of 45.
“It is unthinkable for them to wait until the age of 60 to receive their pension benefits under the SSS program,” he said.
Similarly, HB 5470 proposes the creation of the Overseas Filipino Workers Pension Fund. It requires all OFWs duly registered with the POEA and the Commission on Filipino Overseas to remit five percent of their gross monthly income to the Overseas Filipino Workers Pension Fund for five years.
