If you are an Overseas Filipino Workers (OFW) who is 60-years old and below right now, you may soon to compel to pay your Social Security System (SSS) contribution, whether you like it or not!
This thing will happen if President Rodrigo Duterte will sign the bill that will require a mandatory SSS coverage for OFWs whether you are a land-based or sea-based overseas workers.
Senate Bill 1753 also known as An Act Rationalizing and Expanding the Powers and Duties of the Social Security Commission to Ensure the Long-Term Viability of the Social Security System, Further Amending for the Purpose Republic Act No. 1161, as Amended by Republic Act No. 8282, otherwise known as the Social Security Act of 1997 was authored and sponsored by Senator Richard Gordon.
The bill has been transmitted to Malacañang for Duterte’s signature. The bill aims to expand the number of OFWs with SSS coverage from 500,000 to 2.5 million.
According to Gordon, SSS will provide unemployment insurance for its members especially for OFWs who will be displaced involuntarily.
Aside from that SSS President and Chief Executive Officer Emmanuel Dooc said mandatory coverage of OFWs to SSS would generate P16 billion in the premium collection this 2019. This thing he said is a big help to extend the fund life of the agency.