August 28, 2017

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List of Benefits under SSS Flexi-Fund Program for OFW

The information below contain the list of all the Social Security System or SSS Flexi-Fund benefits for its OFW members.

 List of Benefits under SSS Flexi-Fund Program

Please be noted that all the listed benefits below were collected from the official website of SSS.

 List of Benefits under SSS Flexi-Fund Program for OFW

Accumulated funds, including interest earnings (net of management fees), to be disbursed as tax-free benefits:



  1. For member's retirement, disability and death
  2. Early withdrawal allowed anytime for urgent cash needs (with pre-termination fees if less that 1-year retention)
  3. Granting of Annual Incentive Benefits (AIB) to qualified active members
Note: Flexi-Fund is exclusive to OFW-members paying maximum contributions under the regular SSS program

HOW MUCH CAN OFWS CONTRIBUTE IN FLEXl-FUND?
Any amount, not lower that P200, paid in excess of required SSS contributions

  1. Automatically credited to member's Flexi-fund account once enrolled
  2. No initial deposit or maintaining balance requirement, and also no prescribed ceiling on contribution amounts
  3. Payment anytime, depending on capacity to save 

WHERE CAN OFWS PAY THEIR FLEXl-FUND CONTRIBUTIONS?
Payments accepted electronically at overseas offices and tie-ups of SSS-accredited collection partners

  1. Option for members to remit, thru relatives in PHL, at SSS branch tellers and other accredited channels
  2. Payment thru Internet and auto-debit arrangements also available for account holders of participating banks 

WHY IS FLEXl-FUND A GOOD SAVINGS-INVESTMENT OPTION? 
Safe and secure savings, with guaranteed earnings

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

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