The Commission on Human Rights expressed support for the measure creating a retirement system for overseas Filipino workers or OFWs citing that it could uplift their lives.
The CHR issued a statement supporting House Bill (HB) 00176 or the Overseas Filipino Workers Retirement System Act and HB 8574 or the Kabayan OFW Pension Act.
“To this end, the proposed bills – HB 00176 and HB 8574 – are seen as steps toward fulfilling the government’s obligation to uphold the people’s right to social security,” the CHR said in a statement.
Under the proposed measure, a retirement system will provide OFWs retirement benefits, dependent’s pension, voluntary separation benefits, and a set retirement fund to support these benefits and similar gratuities.
“To promote social justice and provide adequate protection to the OFWs and their dependents against the risks of old age, disability, sickness, death, unemployment, and other contingencies,” the house bill read.
The CHR said that only about 1 percent goes to personal cash savings or capital for business at about 5 percent of OFWs.
“The bills’ proponents also stress that current schemes do not respond to the unique circumstances and vulnerabilities that OFWs face. The Social Security System, for example, is voluntary in nature and only matures at the age of 60 and does not allow for early retirement nor voluntary separation benefits,” the CHR added.
Read: OFW Pension: From sacrifice to security
CHR pushes for OFW retirement system for OFWs
Source: Pinoy News Udpates PH
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