OFWs can still contribute to SSS and Pag-ibig even if they’re working abroad. This gives them a chance to secure their future and access the benefits.
However, you need to know how to track your contributions so that you’re sure all your money is going to the right places.
Managing Your SSS and Pag-IBIG Contributions as an OFW
SSS provides various benefits to its members, including:
- Financial Assistance – In case of sickness, disability, maternity, retirement, or death, the SSS offers financial support to members and their beneficiaries.
- Pension Benefits – Regular contributions help you qualify for a pension upon retirement, ensuring a stable income when you are no longer working.
- Access to Loans – Being an active member allows you to apply for loans such as salary loans and housing loans.
PhilHealth contributions, on the other hand, ensure that you have access to healthcare services, protecting you against financial burdens due to medical emergencies. Some benefits include:
- Hospitalization Benefits
- Outpatient Services
- Universal Health Care
Meanwhile, Pag-IBIG contributions are necessary for your future housing needs and savings. The benefits include:
- Housing Loans – Members can access affordable housing loans to buy or build their homes, making homeownership more attainable.
- Savings Program – Contributions grow over time, allowing you to save for future financial goals.
- Retirement Benefits – Similar to SSS, Pag-IBIG also offers retirement benefits for members.
How to Track Your Contributions
1. Online Registration
To effectively track your SSS and Pag-IBIG contributions, you need to register to their respective online services.
a. SSS Online Account
- Create an Online Account: Go to the SSS official website and click on the “My.SSS” portal. You can register by providing your personal information, including your SSS number.
- Log In: Once registered, you can log in to your account to view your contribution history, check your benefits, and generate a Payment Reference Number (PRN) for your contributions.
- Contribution History: Regularly check your contribution history to ensure all payments are reflected correctly. This can help you monitor your eligibility for benefits when needed.
b. Pag-IBIG Online Account
- Create an Online Account: Visit the Pag-IBIG Fund official website and register for an account on the “Membership” section.
- Log In: Access your account to view your contributions, update personal information, and check the status of your housing loans.
- Membership ID Number (MID): Ensure you have your MID number ready, as it is necessary for accessing your account and tracking your contributions.
Mobile Applications
Both SSS and Pag-IBIG offer mobile applications that allow you to manage your contributions conveniently.
a. SSS Mobile App
- Download the App: Available for both Android and iOS, download the SSS Mobile App from your device’s app store.
- Features: The app allows you to view your contributions, apply for loans, and access other services without needing to visit the SSS office.
- Push Notifications: Enable notifications to stay updated on any changes to your contribution status or benefits.
b. Pag-IBIG Mobile App
- Download the App: Available for Android and iOS, you can download the Pag-IBIG Mobile App from your app store.
- Features: The app allows you to track your contributions, access loan information, and receive updates on Pag-IBIG news and events.
Payment Tracking
Tracking your payments is crucial to ensure that your contributions are updated and correctly reflected in your accounts.
a. Generate Payment Reference Number (PRN)
- For SSS: Log into your SSS account and generate your PRN before making payments. This number is essential for tracking your contributions accurately.
- For Pag-IBIG: You can also generate a PRN for your Pag-IBIG contributions through the online portal or mobile app.
b. Payment Methods
- Bank Payment: Most banks in the Philippines allow you to pay your SSS and Pag-IBIG contributions online. Check with your bank for the specific procedures.
- Remittance Centers: Many remittance centers offer payment services for SSS and Pag-IBIG. Ensure you retain the receipt as proof of payment.
- Employer Contributions: If you are employed overseas, confirm with your employer about the payment of your SSS and Pag-IBIG contributions. They may deduct these from your salary and remit them on your behalf.
Regular Monitoring
- Monthly Checks: Make it a habit to check your SSS and Pag-IBIG accounts monthly. This will help you ensure that your contributions are being recorded accurately and promptly.
- Discrepancies: If you notice any discrepancies in your contributions, contact the respective offices immediately for clarification and resolution.
Understanding Contribution Rates
Familiarize yourself with the updated contribution rates to ensure you are paying the correct amounts. For 2023, the SSS contribution rates have increased to 14%, affecting your total monthly contributions.
For example, if you’re earning less then 8,250 pesos per month, then your total contriubtion is 1,120 pesos. If you earn 29,750 or over, your total contribution is 4,200 pesos. If you want to read the complete table, then you must go to the official SSS website.
Importance of Contributions While Abroad
Continuing to pay your SSS and Pag-IBIG contributions while working abroad is crucial for your future benefits. Regular contributions ensure that:
- You remain eligible for benefits upon retirement.
- You can access health care services during your time abroad.
- You are building a savings fund for future housing or investment needs.
You definitely need to be able to track your SSS and Pag-IBIG contributions even while working abroad as an OFW. To summarize, you can monitor efficiently and effectively through online acounts, mobile apps and regular monitoring. You may need to prioritize keeping up to date with your conclusions. After all, we are dealing with your future and your family’s future after being an OFW.