Wednesday, November 18, 2015

President Aquino Sought President Park’s Support for SSA at APEC

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Photo credit: businesskorea.co.kr

The SSA or Social Security Agreement between Philippines and Korea seems like rising from dead again. Yes, just like how the dead people animate in The Walking Dead series, President Aquino took advantage of the ongoing Asia-Pacific Economic Cooperation (APEC) summit in the Philippines to talk to the President of South Korea Park Geun-hye about some concerns and issues and this includes the amended Social Security Agreement.

As an OFW in Korea, I am totally against this SSA. I have already posted my opinion HERE about that issue and as far as I know, we have successfully shut down this agreement.

To remind us about this SSA, this is how it actually works:

How will this SSA affects our refund?

To simply put, the lump sum refund(KUKMIN) will no longer be granted immediately when you go home. Instead, it will be deposited to your Social Security System (SSS) account and you will only get the lump sum at the age of 65.

Apparently, our dear President Aquino is trying to convince President Park to support the passage of this agreement at the bilateral meeting.

And to quote Palace Communications Secretary Herminio Coloma Jr:

“President Aquino said he hoped South Korea will positively consider proposed amendments to the Social Security Agreement so that it may be finally concluded to enable our peoples to fully maximize its benefits,”

President Park did not exactly respond to this request yet but she promised to develop the social security program to benefit the citizens involved in this.

I sincerely hope that this is the last time our government will touch the topic of Social Security Agreement between Philippines and South Korea. We don't simply trust you putting your hands on our hard earned money.... so back off!!!

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