Overseas Filipino workers abroad who have been members of Overseas Workers Welfare Administration for the past ten and have not availed of any benefit from the OWWA Fund may be eligible to rebate or cash-back. The rebate will be available not later than the first quarter of 2018.
According to Section 54 of Republic Act No. 10801 or “OWWA Act” a rebate or some form of financial assistance may be granted to eligible OWWA members for at least ten years and not availed of any service or benefits from OWWA.
“In recognition of the contribution of long-time members to the OWWA Fund, the OWWA shall develop and implement a program for the grant of rebates or some form of financial assistance to OFWs who have been members of the OWWA for at least ten (10) years and who, along with their families, have not availed of any service or benefit from the OWWA. The provision and the amount of rebates shall be based on actuarial study commissioned by the OWWA for this purpose.”
According to OWWA administrator Hans Leo Cacdac, the amount of rebate will be determined based on the actuarial study conducted within the first six months of 2017.
“We are still targeting to finish it by the end of the year but just to be on the safe side, hindi na ito lalagpas ng first quarter of the next year. The (Labor) secretary has always wanted to get things done so we will work hard to have this done by the end of the year,” assured Cacdac.
“Crucial po yung magkano. Kasi we want to make sure na una hindi masyadong maliit. At pangalawa, hindi ko naman masabing hind masyadong malaki, pero yung sigurado tayong kakayanin ng pondo,” Cacdac said.
“So please bear with us. We don’t want to bear the mistake of rushing and then biglang hindi pala kaya. So we want to make sure na pag-announce namin. Yung talaga ang tamang halaga,” he added.
OWWA has hired an actuarial expert to study the mechanism and sustainability of the program.
The OWWA administrator stressed another study is needed to be able to track old OWWA members and the mode of payment transfer. “There is a possibility that the members have already relocated in other places. One suggestion that we are looking into is through the banking system,” Cacdac said.