SSS Flexi-Fund Program for OFWs

There are lots of OFWs nowadays, and we all know that they are working hard to support their family financially and unknowingly becoming the country’s hero.

But these OFWs were not meant to spend their lives working until their last breath. They also need to rest especially in their old years. Good thing, there is savings plan intended for these OFWs.

If you are one of these OFWs, then we are happy to inform you that SSS provided savings plan for hard-working citizens like you. All the money they earned for the past years would not be a waste and saving money ahead of time will save your life and your family as well.

What is SSS Flexi-Fund?

Flexi-Fund is for citizens who are OFW and with the age not above sixty (60). This a Provident Fund Program especially made by SSS.

Who are eligible to join this SSS Flexi-Fund program?

Joining Flexi-Fund has specific requirements to become part of it.

  • Exclusive for working abroad or OFWs.
  • The OFW should be officially recruited in the Philippines by foreign based employer to work abroad.
  • The OFW should be residing permanently in abroad legally.
  • The OFW should be claiming income or has source of income outside the Philippines.

How to Open Account in SSS Flexi-Fund?

To set-up your SSS Flexi-Fund, you must enroll officially in SSS office. As soon as you settle your official account in Flexi-Fund, you can start to make your contribution. Flexi-Fund contribution could be done by adding the payment to your SSS monthly contribution.

Individual payment is not necessarily needed. If there is an excess PHP 200 and above to your contribution to regular your SSS account, then the excess amount will be added to your Flexi Fund account. The contribution added to your Flexi Fund account will now earn interest income.

Do Flexi-Fund has exact payment period to be able to continue your Flexi Fund account? No, you have a choice whether to pay monthly or in quarterly period. There is a reason behind the name of this program. It was called as Flexi Fund because the member is flexible to choose when to give their contribution.


What are the benefits of enrolling in SSS Flexi Fund program?

  • SSS Flexi Fund is amazingly tax-free and 100% guaranteed by SSS.
  • The amount of benefits that member will receive is based on the higher average rates of SSS’ short term placements or also called as 91-day Treasury Bills (TB).
  • In SSS Flexi Fund, re-pricing for every quarter is accepted based on the Philippines’ current market condition.
  • There is compounded interest which means that the earnings are credited every month.
  • There are Annual Incentive Benefits to the members who are qualified. So that means, there is higher Annual Incentive Benefits for higher equity.

Investing in SSS Flexi Fund program is way much safer than any other investment programs. The contribution you already deposited will not be taken away from your account. When you save to your Flexi Fund account, your saving will be added to your “short-term fixed-income instruments”. The saving or earning you will receive is guaranteed. Being a member of regular SSS and this Flexi Fund program will give you more advantage and benefits at times you need your savings.

What are the best ways to use your SSS Flexi Fund account?

1. There is a better advantage when you withdraw your savings later. It is true that in SSS Flexi Fund, you can withdraw your saving at times you need it or at times you wanted, but there is also a notice that there is pre-termination fee when the saving you deposited only stayed in less than one year. So, you better wait for the right time before you can withdraw your savings.

2. In SSS Flexi-Fund, there is Annual Incentive Benefits or also called as AIB for those members who did not have full withdrawal for the whole year. The Annual Incentive Benefit or the total incentive the member can get depends on the fund’s year-end net income with AIB amounts’ automatic posting. The AIB will be distributed evenly to total equity to the qualified members who made it for the year.

3. Upon contingency, SSS Flexi-Fund member and SSS regular member can get their retirement, disability, and death benefits through their monthly pension, lump sum or the combination of the two.

SSS Flexi Fund is not meant to be paid monthly, and aside from this, Flexi Fund has great benefits especially if the SSS regular benefit is combined with this program. Many OFWs are thankful for this kind of program.

OFWs might have felt the loneliness of being far-away to their loved ones, and working throughout the years might be exhausting. Saving early will be a great advantage for you.

When you have big savings, you can start to pack your things and return to your family with nothing much burden to handle.

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