Is SSS Flexi fund only for OFW?
The Flexi-Fund program is a voluntary provident fund program which allows OFWs to save a portion of their income abroad and maximize returns of their investment. It is offered exclusively to OFWs in addition to the benefits under the regular SSS program.
How can I avail my SSS Flexi fund?
How to register with SSS Flexi-Fund
- Download the enrollment form from the SSS website or secure one from the SSS representative offices (overseas) and Philippine branches.
- Fill out the forms and submit them to the office with a copy of your ID (and OEC/e-receipt, if applicable).
What is SSS Flexi fund for OFW?
Launched in 2001, SSS Flexi Fund is SSS + Provident Fund rolled into one. As a provident-fund-cum-pension-scheme, it allows you to build up your nest egg for use upon retirement, in emergencies or to supplement the benefits under the regular SSS program.
How does SSS Flexi fund work?
A provident-fund scheme designed to supplement pension benefits under the regular SSS program Funds invested in fixed-income securities, thus more transparent and risk-free Better yielding since interest rates are based on average rates of SSS’ short-term peso placements or 91-day Treasury bills, whichever is higher …
Which is better SSS Flexi Fund or Pag ibig MP2?
Payment modes As you can see, the MP2 savings program is more affordable and flexible than that of the SSS. With Pag-IBIG MP2, you can grow money as much as you want to. It’s also easier to start saving with the MP2 because it doesn’t have a lot of conditions for enrollment.
How do I withdraw money from SSS Flexi?
When may I withdraw my SSS Flexi-fund contributions? An OFW member may withdraw his Flexi-fund contributions with interest, either in full or partial lump sum, anytime, especially in times of need. For all Flexi-fund benefit claims, including early withdrawals, use SS Form DDR-2, which is available from this website.
How many years do I have to pay SSS?
Member must have paid at least 120 monthly contributions prior to the semester of retirement and is any of the following, whichever is applicable: at least 60 years old and separated from employment or has ceased to be an SE/OFW/Household Helper (optional retirement);
What is Flexi fund amount in SSS?
The amount of Flexi-fund benefit shall be the accumulated contributions plus interest earnings less management fees, to be provided tax-free. A member is entitled to receive his benefits upon retirement (i.e., has reached age 60) or in the event of total disability – either in lump sum, pension or combination.
Which is better SSS Flexi-Fund or Pag ibig MP2?
Is MP2 a good investment?
This bank account typically yields very little interest (below 1%) but it makes your money available whenever you need it. Sure, investing in the MP2 program is affordable. You can remit a fixed amount monthly or a lump sum once a year as long as the total averages at least P500 per month.
Who can save under MP2?
Pag-IBIG Fund members
2Who can save under MP2 Savings? The MP2 Savings is open to active Pag-IBIG Fund members. It is also open to former Pag-IBIG Fund members (pensioners and retirees) with other sources of monthly income, regardless of age, and with at least 24 monthly savings prior to retirement.
What is SSS Flexi-fund program?
What is SSS Flexi-Fund? According to SSS, it is a provident savings program that is exclusively open to all OFWs. The program was launched in 2001. Its goal is to provide additional income on top of what the regular SSS savings provides in preparation for your pension during retirement.
