Kabayan Party-list Rep. Ron P. Salo on Wednesday underscored the importance of security and protection of overseas Filipino workers (OFWs) when their twilight years come.
“It is imperative to establish a separate and dedicated social security and pension system specifically tailored to the needs of our OFWs,” Salo said in a statement.
He said the system would provide comprehensive social protection, ensuring their overall well-being and offer financial support “in the event of job loss, disability, or death, providing a safety net for our OFWs and their families during challenging times.”
Under House Bill (HB) 8574 or the Kabayan OFW Pension Act, Salo said the system will be mandated to craft guidelines for the OFW’s retirement benefits, monthly pension, death benefits, permanent disability benefits and funeral benefits.
“In our consultations with OFWs in different parts of the world, it has become apparent that the establishment of a unique pension system for OFWs is one of their most enduring and urgent aspirations,” Salo said.
He added that after years of toiling in foreign lands and diligently sending their hard-earned money to their loved ones in the Philippines, they find themselves without adequate social protection in their twilight years.
Currently, Salo said the Social Security System allows OFWs to become voluntary members through specific schemes, an approach which he said does not fully resonate with the OFW community.
“The clamor of our OFWs is for a specific and distinct social security system designed for them which acknowledges the unique circumstances and vulnerabilities they face as migrant workers,” Salo said.
The system, he continued, would establish a retirement fund, enabling OFWs to secure social and financial protection in their old age, and granting them the dignity and peace of mind they deserve.
“Our OFWs are vital contributors to our development and fabric as a nation through their hard work, remittances and sacrifices,” he said.
“It is the State’s duty to provide them humane and adequate social protection when they choose to finally retire after facing unique challenges and vulnerabilities while working abroad. This is our OFW’s aspirations that we will collectively achieve,” he added.
He said providing retirement benefits and pension to OFWs is one of the most tangible means of showing the country’s genuine gratitude for their sacrifices working in foreign shores. (PNA)