MUST BIG BLURB: HOUSE TACKLES PENSION FOR OFWs
UPON the guidance of Speaker Ferdinand Martin Romualdez, the House Committee on Overseas Workers Affairs, has commenced a hearing on the proposed measures for the creation of a pension system exclusively tailored for the overseas workers.
Committee chair Kabayan Party-list Rep. Ron P. salo said this is a proactive effort to provide a secure future for our overseas Filipino workers (OFWs).
“The hearing is consistent with the government’s thrust and underscores the guidance of House Speaker Martin G. Romualdez, who recognizes the invaluable contributions of OFWs to our nation,” Salo said.
Salo underscored the creation of a separate and dedicated social security and retirement system specifically for OFWs consistent with OFWs’ aspiration which they expressed during Salo’s consultations.
“One of the central pillars of this initiative is the intention to address the social protection needed by our modern-day heroes. This pension program seeks to provide them with a lasting solution for social security and welfare,” Salo said.
In the hearing, the Social Security System (SSS) revealed that only around 540,000 are active contributing members of the 1.3 million covered OFWs despite its compulsory coverage.
Salo stressed that this is an area that requires immediate attention.
“We sought to identify the challenges faced by SSS in implementing mandatory coverage so that we can address them in the proposed measure,” Salo stated.
“While the amended SSS law requires OFWs to be mandatorily covered and treated as self-employed members, our OFWs clamor for a distinct pension system exclusively designed for them—a framework that acknowledges their unique circumstances, vulnerabilities, and contributions to our nation’s growth,” Salo added.
In the hearing, Salo sponsored HB No. 8574 or the Kabayan OFW Pension bill.
Three more bills with the same subject were also initially deliberated.
