OFW Help

Always ready to help

You are here: Home / Government Services / SSS / How to Invest in SSS Flexi-Fund for OFWs

How to Invest in SSS Flexi-Fund for OFWs

By

As an Overseas Filipino Workers (OFWs), it is a good thing that you save your extra money for your savings or investment for your future plans or for your family’s needs. There are so many options where you can invest your money, some of them are by investing your money in the bank which is safe but earns very little interest or it is even more risky to invest your money in the stock market.

There is also other option where you can invest your money through SSS Flexi-Fund account that is created exclusively for OFWs only.

What is SSS Flexi-Fund?

SSS Flexi-Fund is an investment option created exclusively for Overseas Filipino Workers (OFW). The main advantage you get for investing in SSS Flexi-Fund over banks and other investments is that it’s tax-free. It was created to help OFWs save and grow money they have saved up without having to worry about it being deducted.

Below are benefits that you get once you enroll for the SSS Flexi-Fund program.

  • Tax-exempt and guaranteed by the SSS
  • SSS Flexi-Fund Interests is based on Average rates of SSS’ short term placements or 91-day TB (Treasury Bills), whichever is higher
  • Subject to quarterly re-pricing, thus reflecting current market conditions in the Philippines
  • Earnings are credited every month-end (compounded interest)
  • Granting of Annual Incentive Benefits to qualified active members

How to Open SSS Flexi-Fund as an OFW

You must first meet some requirements, before you can register for the SSS Flexi-Fund. If you meet these criteria, then you should be able to enroll in SSS Flexi-Fund.

  • Active Overseas Filipino Worker (OFW).
  • Must be an SSS member paying the maximum contribution of PHP 1,760 monthly.
  • Residing permanently in the foreign country and having a source of income.

SSS-Flexi-Fund

To open an account, please follow these steps:

  1. Fill out SS Form OW-1. Download here
  2. Submit 2 copies of the following primary documents (original and photocopy):
    • Birth Certificate
    • Baptismal Certificate
    • Passport

In the absence of the above documents, submit any 2 copies of the following documents:

  • Alien Certificate of Registration
  • Driver’s License
  • GSIS Member’s Record Certificate from National Archives
  • Joint Affidavit
  • Record of Employment/Employer ID
  • School/Voter’s Identification Card
  1. Either send the filled out form alongside other required documents through mail to this following address:
    International Affairs and Branch Expansion Office, 3/F SSS Bldg., East Avenue, Quezon City, 1100 Philippines

Or send via fax through this following contact:
Telefax: (632) 435-9814 Or send via Email through this following email address: ofw.relations@sss.gov.ph

  1. For local enrollment, submit your duly accomplished SS Form OW-1 alongside other supporting documents and requirements at any local SSS branch prior to your deployment.
  2. You will need to present a valid overseas employment certificate (OEC) or E-receipt issued by the Philippine Overseas Employment Administration (POEA) as proof of pending deployment.

How much can OFWs contribute in SSS Flexi-Fund?

You can pay your contributions by adding more to your maximum SSS contributions, which is on top of PHP 1,760. That excess should not be any amount lower than PHP 200, and that goes automatically into your Flexi-Fund account.

Where to remit contributions for Flexi-Fund account?

Here is the list of bank that could receive payments:

  1. Allied Bank
  2. Asiatrust Bank
  3. Bank of the Philippine Islands (BPI)
  4. Equitable PCI Bank
  5. International Exchange Bank
  6. Luzon Brokerage Corporation (LBC)
  7. Land Bank of the Philippines
  8. Metrobank
  9. Philippine National Bank (PNB)
  10. Rizal Commercial Banking Corporation (RCBC)
  11. Security Bank

What are the Benefits of SSS Flexi-Fund and Why should I invest in SSS?

  • Flexi-Fund benefit shall be the accumulated contributions plus interest earnings minus management fees, to be provided tax-free.
  • Upon retirement, An SSS member is entitled to receive his benefits (has reached age 60 or 65) or in the event of total disability – either in a lump sum, pension or combination.
  • The beneficiary/ies upon the death of an SSS member or pensioner shall receive a lump sum equivalent to the benefit amount or cash value of the remaining pension (contingency date same as in regular program).
  • Has an option for early withdrawal of his Flexi-Fund contributions in a lump sum, including net interest earnings, anytime.
  • Annual Incentive Benefits (AIB) may also be granted to members who have no benefit or withdrawal claims filed within the year.
  • The individual AIB shall be automatically credited to the member’s Flexi-Fund account and shall form part of his accumulated funds.

What if I’m no longer an OFW? Can I still continue my SSS Flexi-Fund Contributions?

Yes. An OFW-member may continue paying his SSS Flexi-Fund contributions even after the termination of his
employment contract abroad/overseas, provided that he continues to pay the required maximum monthly contribution. Take note that the payment of contributions shall cease upon filing of a final claim under the regular SSS program.

Click here to read: