Duterte signs SSS law including mandatory coverage for OFWs

Duterte signs SSS law including mandatory coverage for OFWs

- It has been confirmed that President Rodrigo Duterte signed a bill to amend the charter of the Social Security System (SSS)

- The new measures include the mandatory SSS coverage of the overseas Filipino workers

- The unemployment insurance has been approved as well

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President Rodrigo Duterte has recently signed into law the proposed provisions to amend the charter of the Social Security System (SSS). KAMI learned that the changes include the mandatory SSS coverage for overseas Filipino workers (OFW).

According to a report by The Filipino times, Executive Secretary Salvador Medialdea confirmed that President Duterte has signed the bill. The provisions include the SSS coverage for OFWs below 60-years-old.

With the newly signed law, the SSS will be empowered to increase benefits, condone penalties, and even rationalize investments.

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In a report by GMA News, the new measure allows the SSC Commission to determine the monthly contributions and salary credit of the members. The commission is also authorized to increase the contributions which will depend on the actuarial survey.

The provisions also include unemployment insurance for those who were dismissed from their jobs. The SSS has been given the power to invest its Reserve Funds in order to generate its wealth.

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Source: Kami.com.ph

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