ACT-CIS party-list Rep. Erwin Tulfo is set to file a bill seeking to institutionalize a pension system for Overseas Filipino Workers (OFWs), allowing them to enjoy benefits upon retirement from working abroad.
In an interview with reporters, Tulfo said the OFWs are called “modern-day heroes” because of their contribution to the country’s economy at the expense of being away from their families.
“But by the time they get older and can no longer work, they become reliant on their children. Is this how we treat our heroes?” noted Tulfo who is currently running for senator under the Alyansa para sa Bagong Pilipinas slate.
“It’s the country’s way of saying thank you to our OFWs for being strong pillars of the nation for many years while working abroad. It is only right and just to return the favor,” he added.
According to him, a lot of OFWs cannot save up because they prioritize paying for their children’s school fees or building a decent home for their family. “The needs of the people who rely on them come first, leaving them with nothing for themselves.”
“For instance, our domestic helpers, laborers, and drivers who work abroad receive meager wages and frequently cannot save because they live paycheck to paycheck. They no longer have the financial flexibility to set aside savings,” Tulfo said.
In his projected bill. Tulfo said both the OFW and the government will contribute to the pension fund, which will provide benefits that OFWs can enjoy upon their retirement. The government may contribute double or triple the amount of the OFW’s contribution to the pension fund, Tulfo said.
He also stressed that he is advocating for a new pension system tailored to the unique experiences of OFWs. “The benefits from the OFW pension will be separate from those they will receive from the Social Security System (SSS) when they reach 60 years old.”