A proposed measure seeking to establish a dedicated pension fund for overseas Filipino workers has been filed in the House of Representatives, led by AGIMAT Rep. Bryan Revilla, Cavite 1st District Rep. Ramon Jolo Revilla III, and Cavite 2nd District Rep. Lani Mercado-Revilla.
House Bill 5700 aims to grant long-term financial security to OFWs—particularly those in physically demanding, skilled, or technical roles—through a monthly P5,000 contribution collected by the Department of Migrant Workers (DMW). The authors stressed the importance of the program, describing it as “a form of justice, recognition, and protection for the people who sustain our nation from afar.”
The proposed pension will apply to OFWs who have reached at least 55 years old, logged a minimum of 15 years of overseas employment, and are duly registered with the DMW. It will also be separate from existing benefits under the Social Security System or Government Service Insurance System.
To fund the initiative, the bill outlines a four-way financing structure: 25 percent from the income of the Philippine Amusement and Gaming Corp., 25 percent from the Philippine Charity Sweepstakes Office’s Charity Fund (net of Documentary Stamp Tax), 25 percent from the Maharlika Investment Fund, and the remaining 25 percent from the DMW’s annual budget, member premiums, and employer contributions.
The measure also authorizes the DMW to extend incentives to foreign employers and Philippine recruitment agencies that will help finance the proposed OFW Pension Fund.
