Cash-back For OWWA for at least 10 years Members will bw Available Soon

OFW member of Overseas Workers Welfare Administration (OWWA) for at least 10 years that have not yet availed any kind of benefits from OWWA might be eligible for a rebate or cash-back. This rebate is expected to get available in the first quarter of 2018.

“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 Hans Leo Cacdac of OWWA, the amount of the cash-back will depend on the actuarial study which was conducted in the first 6 months of the previous year.

“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,” says Cacdac.

Cacdac also thinks that the rebate amount will be crucial, making sure that the amount won’t be too small for its members.

“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.

Cacdac also asked for patience to avoid future mistakes.

“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,” Cacdac added.

OWWA even hired an actuarial expert to focus on the studying the mechanism and sustainability offered by this program.

Cacdac also emphasized that they need further study to track down old OWWA members and their mode of payment.

“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.