ACT-CIS Representative Erwin Tulfo will file a measure seeking to institutionalize a pension system for Overseas Filipino Workers (OFWs), allowing them to enjoy benefits upon their retirement from working abroad.
In a recent ambush interview with the media, Cong. Tulfo stated, “OFWs are called ‘modern-day heroes’ because of their noble contribution to the country’s economy at the expense of being away from their families.”
“But by the time they get older and can no longer work, they become reliant on their children. Is this how we treat our heroes?” underscored Tulfo, who is currently running for senator under the Alyansa para sa Bagong Pilipinas slate.
“It’s the country’s way of saying thank you to our OFWs for being strong pillars of the nation for many years while working abroad. It is only right and just to return the favor,” added Tulfo.
According to the lawmaker, “A lot of our OFWs cannot save up because they prioritize paying for their children’s school fees or building a decent home for their family. The needs of the people who rely on them come first, leaving them with nothing for themselves.”
“For instance, our domestic helpers, laborers, and drivers who work abroad receive meager wages and frequently cannot save because they live paycheck to paycheck. They no longer have the financial flexibility to set aside savings,” Tulfo highlighted.
In the measure that Rep. Tulfo will file, both the OFW and the government will contribute to the pension fund, which will provide benefits that OFWs can enjoy upon their retirement.
The government may contribute double or triple the amount of the OFW’s contribution to the pension fund.
Tulfo further stressed that he is advocating for a new pension system tailored to the unique experiences of OFWs.
The benefits from the OFW pension will be separate from those they will receive from the Social Security System (SSS) when they reach 60 years old.
