SSS Flexi Fund for OFW

What is SSS Flexi Fund and Why It’s a Good Savings-Investment Option?

The SSS Flexi Fund is a safe and secure savings, with guaranteed earnings

• A provident fund scheme designed to supplement pension benefits under the regular SSS program.
• Funds invested in fixed income securities, thus more transparent and risk-free.
• Better yielding since interest rates are based on average rates of SSS’ short term peso placements or 91-day Treasury bills, whichever is higher.

Who are allowed to enroll under this Program?

All overseas Filipino workers (OFW) who are not over 60 years old (up to 60^th birthday) with the following types:

• Recruited in the Philippines for a foreign based employers for employmnent abroad;
• Having a source of income in a foreign country; or
• Residing permanently in a foreign country

What are the Benefits under the Flexi Fund?

Accumulated funds, including interest earnings (net or management fee), to be disbursed as tax free benefits

• For member’s retirement, disability and death
• Early withdrawal allowed anytime for urgent cash needs (with pre-termination fees if less than 1-year retention)
• Granting of Annual Incentive Benefits (AIB) to qualified active members.

Who can qualify for Flexi Fund Membership?

Exclusive of OFW-members paying maximum contributions under the regular SSS program

• Register at any SSS local/foreign branch, or thru email (form downloadable at SSS website)

How much can OFWs contribute in Flexi Fund?

Any amount not lower than P200, paid in excess of required SSS contributions

• Automatically credited to member’s Flexi Fund account once enrolled
• No initial deposit or maintain balance requirement, and also no prescribed ceiling on contribution ampints
• Payment anytime, depending on capacity to save

Where can OFWs pay their Flexi Fund contributions?

Payments accepted electronically at overseas offices and tie ups of SSS accredited collection partners

• Optons for members to remit, thru relatives in the Philippines, at SSS Branch tellers and other accredited channels.
• Payment thru Internet and auto debit arrangements also available for account holders of participating banks.

When does the coverage of an OFW member take effect?

Coverage of an OFW takes effect upon payment of the first monthly contribution.

How does one register as an OFW (new) member?

• Over the counter (SSS Branches)
  Registrants must secure a Personal Record form (SS Form E-1) at the nearest SSS Branch or download from the SSS website at sss.gov.ph. Fill out the form and submit it with Birth Certificate. In absence of Birth Certificate, submit any of the following documents:
  • Baptismal Certificate or its equivalent
  • Driver’s License
  • Passport
  • Professional Regulation Commission (PRC) card
  • Seaman’s Book (Seafarers Identification and Record Book)
• Online (SSS Website)
  Registrants must access the SS Number online Issuance and accomplish the two-phase registration by providing the required information.
  Instruction on how to get an SS Number online

Where will payments be made?

SSS contributions and loan amortization, including the SSS Flexi Fund contributions may be paid through any of the following accredited banks and its foreign tie-ups (ie. Remittance centers and/or money exchange houses):

• Asia united Bank (AUB) Gintong Hatid
• Banco de Oro (BDO) Remit Servies
• BOC SIKAPPINOY
• Philipine National Bank (PNB) Overseas Bills Payment Service
• I-Remit online branches
• Lucky money online branches
• Ventaja Online Outlets
• Sky Freight

Source: SSS Website