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SSS Flexi Fund OFW Program

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SSS Flexi Fund is an imported version of the local SSS. The only difference of this funding program by the government is that it is purely intended for the Overseas Filipino Workers or OFW. The popular Flexi Fund SSS form used for this particular program is the DDR – 2 form. For those who are interested to avail of the incentives attached in this program, you can ask more about it at the Social Security System office in any branch.

Definition of SSS Flexi Fund

SSS FLEXI FUND“A Voluntary Provident Fund for Overseas Filipino Workers. The program is a voluntary provident fund that provides a mechanism for the OFW to save more for the future, complementing the benefits under the regular SSS programs. This means the program is open only to OFWs abroad and is added on top of existing SSS-OFW membership benefits.” Taken from the official press release by the Social Security System (SSS).

Amenities of Flexi Fund System

  1. TAX-FREE – Totally tax-free for those who are interested to avail of the fund. A minimum of 3 years after the commencement date is required just like the regular SSS funding program through loans.
  2. Increment Option – Any member is allowed to leave the fund be and may claim use of it upon retiring or deciding to stay in the Philippines in which the value increases as you continue to fund your account.
  3. Your Own Income – The SSS flexi fund is the OFW’s own income that he or she may avail funding for himself under a mechanism provided by overseas employment system of the government and SSS. This is an incremented contribution that the OFW pays in a regular monthly basis.

2 Ways to Avail

  • Monthly Pension – The Flexi Fund may be availed in the form of a monthly pension that an OFW may receive in such basis aside from their regular monthly SSS pension in their local account. This is totally tax-free.
  • Lump Sum – This option provides the OFW a much larger amount to get from the program. Mind those who are interested to avail that this follows certain requirements which are similar to the local SSS monthly pension and lump sum system of funding.

Important Announcement by www.Gov.PH (official website of Philippine government)

“Because Flexi Fund is a provident fund, amounts accumulated to every centavo including interest shall accrue solely to the Social Security System (SSS) OFW member.”

Application Guide

The Application for Flexi Fund program of the SSS is open to all OFWs in the Philippines of abroad and may be claimed in designated SSS branches abroad. Another option for the application is via e-mail. OFWs may also e-mail their application forms to International Affairs and Branch Expansion (IABE) office. This system is provided for OFWs who can’t find an SSS office in the country they work or live.

For those interested to know about this program related to RETIREMENT, DEATH AND DISABILITY AND EARLY WITHDRAWAL, you can find a more comprehensive information regarding the SSS Flexi Fund here.

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