Keeping members informed - 30 day sick leave filing extension for OFWs

The SSS Commission has issued this circular to benefit OFWs.
Please take note of the effectivity, 18 August 2015.

An SSS information post - being passed to my readers for your edification

Reaction to HTT's post last Friday

A long time ago, perhaps not in this blog, i had mentioned that unless individuals were investment-inclined,  they dont bother to really provide for their future, except perhaps to purchase an insurance policy - the just-in-case-scenario of the event of death.   However, it is not always just death that may bring disaster to a family.  Loss of income due to contingencies of many flavors have a higher probability of occurring.  Accidents may disable a person, thereby causing him to lose a major source of his  income.

Hence, i have been antsy about PERA, but no more... i think i may just fall under the not-eligible due to the long wait.  *hay*  the wheels of justice grind very slow indeed!

anyway, ofws have been romanced into paying their contributions as well as paying into a flexi-account.  How nice, and yet, as HTT points out, very few OFWs actually do that note and i dont understand why.

click below to read how advantaged and fully privileged these OFWs are .....
HTT's post on The Manila Standard Today /2013/02/22/ the-plight-of-migrant-workers/

SSS's "BILIB KAMI SA 'YO"

SSS has been using this phrase for some time now.

this is mostly used for OFWs because they have left their country, left their families and friends in order to pursue a better way of living - not just for themselves, but for their loved ones.

being away from people and places you love creates a burden. and most OFWs, single or married, carry that onus. this is an extra burden in the lives of people.  

ako din, bilib sa OFW.  Mahirap ang umalis sa sariling bansa at iwanan ang lahat ng minamahal. malungkot di ba nga - lalo't kundi sanay mag-isa. matapang ang mga OFW.  di ba Bagong Bayani ang tinawag sa kanila?

being alone is not always a blessing.  people who live alone require a certain panache, a certain inner strength, and the fortitude.

however, everyone who strives to honestly work for a living deserves the SSS's tag line.

and this post honors all of you

i was not able to post about the OFW party yesterday at SSS.

i will try to grab some pictures for you.  Try being the operative word

The Professionals

in SSS parlance or talk, the formal sector is always associated with employment. 
and the informal sector are all the others - Voluntary, Self-Employed, and OFWs
all of these fall under the informal category

I wanted a nice catchy phrase for the informal sector comprised of professionals, so i figure - then let me just call them the Professionals

just as an aside, if the term sounds familiar to you, there used to be an old British show called the Professionals, Bodie and Doyle and George Cowley were characters in the TV show, filmed between 1971-1981.  i watch vintage tv and vintage film, just in case you want to know.

The group i call the Professionals are self-employed individuals who are issued licenses.  Who are these people you ask?  Physicians, Engineers, Lawyers, Accountants, Nurses, Physical and Occupational Therapists, Vets, Teachers etc.

Artists are not issued licenses, but i consider them Professionals.  Afterall, people purchase their creations.


Not all of these Pros think of their retirement especially those who just do freelance work. I do enjoin that they sign up with SSS, and some form of Provident Fund (or PERA for that matter, if the government ever implements this package)

*****
or just as simply, put money in the bank - the only problem is that doing this doesnt get you ahead much, interest rates being what they are. 

SSS Payment Channels overseas

just in case you find it easier to navigate here

click here for list of payment channels overseas

Time to lose US dollars?

well, a few friends say it is time to change my dollars into other currencies.
i am waiting for word from one more guy before i divest.........

but if true, our OFWs will automatically get a decrease in pay.
i hope their relatives are aware and tone down Christmas expectations.......

we are heading for tough times, and i hate the fact that the BIR is offering no breaks for anyone
not even those who are sick and are having a tough time meeting their medicine requirements
and those disabled?  what benefits does BIR offer?

i try and try to reach their website but whoever is manning them is doing a not-so-good job
always unavailable. 

Savings - Flexi-fund for OFWs. Paying SSS contributions

i am reminded of savings because of the saying "pennies for a rainy day"

and Manila has certainly had its share of rainy days these days

i am one of those individuals who remove coins from the purse to reduce its weight.  i put them in a container and sort them when i have time, and when i have filled several bags of different coins, i usually deposit them to my MetroBank account.  why metrobank? i dunno. just a habit. i deposit my coins there.  and they - the bank staff - are nice too.

a few posts back i said everyone should try to save - for a rainy day.  for money in the future.

paying your SSS contributions is one of them, as this is saving for your retirement.  i call paying your SSS forced savings - and i hope you do try to pay the maximum.  remember the pension is only about 40% of the MSC (Monthly Salary Credit.

if you are an OFW, i suggest you avail of the SSS flexi-fund.   view it as another channel for forced savings.  and well, you have to pay the maximum to qualify for paying the SSS-flexifund.  But the flexi-funds are, more-or-less, under your control, subject to restrictions.  On the left is the article from the Manila Bulletin.


we Filipinos love to spend, sometimes, i think,  rightly because cost of money rises unduly and our purchasing power can decrease with time.  this is why i advocate forced savings.

also, money on hand is the easiest thing to spend so put your money a little out of your hot hands.  i try to do this.  i am a collector, remember, and collectors are slightly weird.  friends will argue that i am officially weird because i am from Sayans, and i come not only from the weirdest batch, but the weirdest section by award in the weirdest batch.  *sigh*

one another thing that should now be in force and i want SSS to involve itself in is the PERA "mandate".   this is the link for more details personal-equity-and-retirement-account-pera-act law office blog
why do i want sss to be involved?  just for simplicity. one payment, 3 things to pay, 3 different financial instruments.  otherwise, it will probably be banks that will handle this.

well, regular people can avail of the PERA but only OFWs qualify to invest in the Flexi-fund.  one of the reasons i also want SSS to handle PERA.  PERA is not subject to SSS law, nor is the Flexifund so that gives the client/investor more options, albeit restricted.  if it werent restricted, it wouldnt be out of hot hands.

more financially savvy ofws would put their monies in other instruments such those that take advantage of foreign currency exchange rates, or do stock/commodities trading.  if you are that savvy, the returns are better for those.  but those who want a simple life may just do PERA or Flexifunds, or the usual time-interest instruments.

i really recommend Flexi-funds for those who do want a simple life, with better interest than that offered by banks.  and also, try not to get your money out of your Flexi-fund accounts when you are back in Manila.  let it ride there.  i also encourage you to check the growth of your money.  visit your account!

here is the form to register as an OFW

instructions for the form

note:  if the form is back-to-back, you must also print it back-to-back.

Click for the Editable (or fill-in form) OW-1

Click for downable OW-1 form

Click here for the downloadable Flexi-fund form

If you want to see the rest of the SSS forms - Click here to view/download the rest of the SSS forms