By: Embassy of the Republic of the Philippines, Seoul

The Embassy wishes to share with the public the Press Release of the Social Security System (SSS) regarding the signing of the renegotiated Philippines ? Republic of Korea Social Security Agreement (SSA) on the sidelines of the ROK-ASEAN Commemorative Summit in Busan on 25 November 2019.

President Rodrigo Roa Duterte and Republic of Korea President Moon Jae-in witnessed the signing by Foreign Affairs Secretary Teodoro Locsin, Jr. and Korean Foreign Minister Kang Kyung-wha of the renegotiated SSA, which addressed the concerns of the Overseas Filipino Workers (OFWs) in Korea wherein the social security coverage will remain under Korea's National Pension Service (NPS) and there will be no transfer of contribution from the NPS to the SSS.

The renegotiated agreement also provides an option for OFWs to refund their NPS contribution at the end of the sojourn in Korea, under the same conditions given to Korean nationals.

To get maximum benefits from social security, SSS also encourages OFWs who will opt for lump-sum refund to continue being active SSS members on voluntary basis to ensure their eligibility for SSS pension benefits in the future.

Members of the Filipino community in Korea are encouraged to participate in an SSS Forum to be held in cooperation with the Embassy to get to know more about the SSA and the programs and services for OFWs under the new SS Law. The Embassy will issue an Advisory once the schedule of the SSS Forum has been determined. END