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:- For member's retirement, disability and death
- Early withdrawal allowed anytime for urgent cash needs (with pre-termination fees if less that 1-year retention)
- Granting of Annual Incentive Benefits (AIB) to qualified active members
HOW MUCH CAN OFWS CONTRIBUTE IN FLEXl-FUND?
Any amount, not lower that P200, paid in excess of required SSS contributions
- Automatically credited to member's Flexi-fund account once enrolled
- No initial deposit or maintaining balance requirement, and also no prescribed ceiling on contribution amounts
- 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
- Option for members to remit, thru relatives in PHL, at SSS branch tellers and other accredited channels
- 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
- 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
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