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All blogs > Money Tips > Invest in Pag-IBIG and SSS
04.14.2023

Invest in Pag-IBIG and SSS

Investment

In modern times, OFWs have become more aware of their savings and expenses, allowing them to invest not only in their current essentials but also in their future. As non-immigrants of a foreign country, investing in the Philippines has become one of the aspirations of many OFWs, whether in business, the stock market, or insurance, both publicly and privately. 

One of the common investment options for OFWs is Pag-IBIG and SSS, which are government agencies tasked with handling the insurance and savings of Filipinos in the Philippines and abroad.

Pag-IBIG Fund

Whether in the Philippines or abroad, Filipinos can invest, save and apply for loans through Pag-IBIG. In order to avail of these, you must become a Pag-IBIG member

As an OFW, and if you are duly paying your contributions, here are some advantages you are qualified to receive: 

  • You can have your own savings in the Philippines that are fully guaranteed by the Philippine government. These savings also provide you with annual dividends that are tax-free. 

  • You can apply for short-term loans for your emergency needs. 

  • You can apply for a housing loan with low-interest rates and repayment terms of up to 30 years.

SSS Loans and Contribution

Social Security Systems (SSS) is a social insurance program in the Philippines that mainly caters to private-sector employees, both in the Philippines and abroad. Once you become a member of SSS, you are entitled to multiple benefits, including support for death, retirement and unemployment benefits. 

Similar to Pag-IBIG, OFWs can also invest in SSS for savings, which later on can be used to apply for a short-term or long-term loan. Furthermore, SSS provides a service that is specific to OFWs for housing loan applications.

Investing in Pag-IBIG and SSS

All Filipinos are eligible to become members of Pag-IBIG and SSS. If you are an OFW, you may apply directly through their website or personally visit their offices in the country where you are currently based. 

For SSS, your monthly contribution will depend on the wage that you are receiving per month. For more details, you may open this link.

For Pag-IBIG, the mandatory monthly contribution is only PHP100. For more details, you may open this link.  

Saving and investing for the future has become one of the aspirations of many OFWs from around the world as they see it’s practical and, more so, because it would provide them with better options when they plan to retire in the Philippines. In this context, Pag-IBIG and SSS are one of the best investment options for OFWs, whether they’re  professionals or skilled workers. 

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