What is the SSS Flexi-Fund and How to Invest

The SSS Flexi Fund is a voluntary savings and investment program tailored for Overseas Filipino Workers (OFWs), offering them a secure way to grow their hard-earned money through government securities. Targeted at OFWs actively contributing to the SSS, this program allows for flexible contributions (minimum of Php 200) and promises tax-free benefits and risk-free returns. It simplifies saving for the future, offering ease in enrollment and management whether one is abroad or in the Philippines.

Participants can expect a financial buffer for life’s unexpected events or a solid foundation for future aspirations, with the added advantage of higher-than-average returns and the peace of mind that comes from knowing their investments are safe. Through consistent contributions, strategic top-ups during high-earning periods, and a long-term investment perspective, OFWs can maximize their Flexi Fund contributions, ensuring financial stability for themselves and their families upon their return to the Philippines.

Credits: PNA, SSS

Understanding the SSS Flexi Fund

The SSS Flexi Fund is a voluntary savings scheme offered by the Social Security System specifically designed for OFWs. It stands as an additional layer of financial security, atop the regular benefits of SS membership. Its main draw? It allows OFWs to invest part of their overseas earnings into government securities, ensuring a risk-free return that’s typically more attractive than what you’d find in the regular market.

Legal Basis

The SSS Flexi-Fund offers OFWs a voluntary, tax-free provident fund, allowing flexible contributions above Php 200 into risk-free government securities. Designed to enhance the standard SSS benefits, it permits withdrawals with conditions and provides options for receiving benefits upon retirement or disability. This encourages OFWs to save securely and flexibly for their future.

Benefits at a Glance

  • Safety and Security: Investments are placed in government securities, offering a risk-free return.
  • Flexibility: Contribute any amount over Php 200, at any time you wish.
  • Convenience: Enroll and manage your investments whether you’re abroad or in the Philippines.

Eligibility: Who Can Invest?

To qualify for the SSS Flexi Fund:

  • You must be a registered OFW member of the SSS.
  • You must be actively contributing to the regular SS program.

Getting Started: Requirements

flexi fund form
Credits: SSS

Investing in the SSS Flexi Fund: A Step-by-Step Guide

  1. Enrollment: Fill out the Flexi Fund Enrollment Form. This can be downloaded from the SSS website.
  2. Submission:
    1. If abroad, submit the form at any SSS Foreign Representative Office.
    2. In the Philippines, head to the nearest SSS branch with your OEC or E-receipt.
  3. Contribution: Alongside your regular SS contributions, add an extra amount (minimum of Php 200) that will automatically funnel into your Flexi Fund. You’re also free to contribute additional sums whenever you fancy.

A Closer Look at the Benefits

  • Your Hard-Earned Money, Working Harder: The main appeal of the Flexi Fund is its ability to provide higher returns than average, given its investment in secure government securities.
    • The Flexi Fund is invested in short-term placements and 91-day treasury bills.
    • Earnings are generated based on whichever is higher from the placement.
    • As of July 2022, the interest rate for the 91-day T-Bills in the Philippines was 2.095%.
  • Peace of Mind: Knowing your money is safe and growing can ease the burden of working away from home.
  • Build a Financial Buffer: The fund can serve as an important financial buffer for unexpected life events or a foundation for future plans.

Strategies to Maximize your SSS Flexi-Fund Contributions

  1. Consistent Contributions: Regularly contributing to your SS Flexi-Fund can significantly impact the growth of your retirement savings. Establish a habit of setting aside a fixed amount monthly or quarterly to ensure consistent growth.
  2. Top-Up During High-Earning Periods: If you experience a windfall or an increase in income, consider making additional contributions to your Flexi-Fund. These top-ups can help you take advantage of compounding interest over time.
  3. Long-Term Perspective: The SS Flexi-Fund is designed as a long-term investment. Maintain a long-term perspective and resist the temptation to withdraw funds prematurely. This approach allows your investment to benefit from potential market gains.
  4. Diversify Your Portfolio: While the SS Flexi-Fund is a secure investment, diversifying your retirement portfolio with other investment vehicles can help manage risk and maximize returns.

Recent Updates

SSS Urges OFWs in Singapore to Invest in WISP Plus for Higher Pensions

The Social Security System is encouraging overseas Filipino workers (OFWs) in Singapore to participate in the Worker’s Investment and Savings Program (WISP) Plus. By investing in the program, OFWs can enhance their retirement savings and increase their retirement pension. In its first year, the WISP Plus program saw over 30,000 members contribute a total of P386 million, with an estimated return on investment of 6.86 percent in 2023, outperforming the average Treasury bill rate. (Manila Standard)

Video: SSS FLEXI FUND PROGRAM OFWs. Simpleng explanation! (OFW SSS CONTRIBUTION 2020)

The SSS Flexi-Fund offers OFWs a valuable opportunity to save and secure their future. To join, OFWs need to have an active SS membership, visit the nearest branch, gather the necessary information and application form, submit the required documents, set an initial deposit, and follow the subsequent steps provided by the agency. OFWs who have experienced the benefits of Flexi-Fund appreciate the chance to save more, earn higher interest, and have additional financial security for themselves and their families. It serves as an excellent option for OFWs to ensure they have adequate financial stability upon their return to the Philippines.


Why Consider the SSS Flexi Fund?

For OFWs, the path to financial security is fraught with challenges, from fluctuating job markets to the sheer distance from home. The SS Flexi Fund represents a tangible step toward mitigating these risks, offering a straightforward, secure way to save for the future. Whether it’s for retirement, education, or simply the peace of mind that comes with financial preparedness, investing in the Flexi Fund can be a wise decision.

Remember, investing is not just about preparing for uncertainties; it’s also about seizing opportunities to ensure that the hard work abroad translates into lasting benefits for you and your loved ones. The Flexi Fund is more than just a savings option; it’s a partner in building a secure, prosperous future. Start today, and watch your dreams grow within reach.

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