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Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City, Metro Manila 
Nineteenth Congress 
First Regular Session 
House Bill No. _________ 
Introduced by REP. JOEY SARTE SALCEDA 
AN ACT  
ESTABLISHING AN OVERSEAS FILIPINO WORKER INVESTOR ADVOCATE 
IN THE OVERSEAS WORKERS WELFARE ADMINISTRATION, 
AND FOR OTHER PURPOSES 
EXPLANATORY NOTE 
Overseas Filipino Worker (OFW) remittances account regularly for 8-12 percent of Gross 
Domestic Product (GDP). In 2019, the figure stood at USD 33.5 billion, or 9.3 percent of GDP. 
These remittances have buoyed the urban property markets, as these are seen as tangible and 
relatively safe investments for OFW finances. 
Clearly, OFW remittances can be channeled towards even more productive assets. While real 
property is a store of appreciating value, it is not always the most productive stream of income. 
OFW remittances, if channeled correctly, can boost the country’s capital markets and 
contribute more towards productive industries, while providing potentially greater returns to 
OFWs and their families. 
OFWs appear to be in search of more productive investments. With the emergence of the 
internet, however, and with OFWs looking for more attractive returns on investment, thousands 
of our migrant workers are scammed out of their hard-earned money every year.  
Hard-earned remittances from OFWs should be managed better, and given their outsize 
importance in keeping the ship of the state tight, the government has at least some responsibility 
in providing reliable information on investments and protection from fraudulent investment 
schemes. 
This bill proposes that the Overseas Workers Welfare Administration (OWWA) be given the 
additional mandate of providing investment counselling services and protection against fraud 
for OFW-members. 
Under this measure, there will be established under OWWA an Office of OFW Investor 
Advocacy, who shall protect OFWs from potentially fraudulent investment schemes, help 
OFW retail investors in resolving significant problems such investors may have with the SEC, 
or with other regulatory agencies, provide OFWs with reliable advice on investing in safe 
investments with reasonable returns, work with the Securities and Exchange Commission 
July 1, 2022 
8:00 am
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(SEC) and the Bangko Sentral ng Pilipinas (BSP) in promoting financial literacy among OFWs, 
and perform other functions that will help keep OFW remittances in safe investments.  
The Office will also administer an OFW investor hotline to help OFWs determine whether 
certain investment propositions are safe and secure. 
Combined, OFW remittances are larger than foreign direct investment inflows of the country. 
OFWs as investors are a sleeping economic giant that could be awakened with proper 
information and guidance. This bill, a small public investment in OFW welfare, could have 
outsize economic benefits. 
In view of the foregoing, the approval of this bill is urgently sought. 
JOEY SARTE SALCEDA 


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Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City, Metro Manila 
Nineteenth Congress 
First Regular Session 
House Bill No. _________ 
Introduced by REP. JOEY SARTE SALCEDA 
AN ACT  
ESTABLISHING AN OVERSEAS FILIPINO WORKER INVESTOR ADVOCATE 
IN THE OVERSEAS WORKERS WELFARE ADMINISTRATION, 
AND FOR OTHER PURPOSES 
Be it enacted by the Senate and House of Representatives of the Philippines in Congress 
assembled: 
SECTION 1. Title. – This Act shall be known as the “OFW Investor Protection Act.” 
SEC. 2. Objectives. – This Act aims to protect the financial wellbeing and security of 
Overseas Filipino Workers (OFWs) and assist them in transitioning from overseas employment 
by providing them with free investor protection and counseling services under the Overseas 
Workers Welfare Administration (OWWA). 
SEC. 3. Investment Advise Services to Overseas Workers. – Section 35 of Republic Act 
No. 10801 is hereby amended to read as follows: 
SECTION 35. Benefits and Services to OFWs. – 
(a) Reintegration of OFWs. – The reintegration of OFWs, taking into
consideration the needs of women migrant workers, shall be one of the core
programs of the OWWA. In this regard, and for purposes of policy and
program coordination, the National Reintegration Center for OFWs created
under Republic Act No. 10022 shall be an attached office of the OWWA. It
shall be headed by an Executive Director who shall be under the supervision
of the OWWA Administrator.
To be able to sustain the viability of this program, not less than ten percent
(10%) of OWWA’s collection of contribution for the immediately
preceding year shall be allocated annually for the reintegration program.
(b) Repatriation Assistance. – Consistent with the provisions of Republic Act
No. 8042, as amended, the OWWA shall assist the Department of Foreign
Affairs in providing OFWs with services necessary to facilitate repatriation,
as may be required.
(c) Loan and Other Credit Assistance. – The OWWA shall provide low-interest
loans to member-OFWs. It shall have the authority to hire experts in finance
or banking to assist in implementing the said loan programs.
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(d) Workers Assistance and On-site Services. – The OWWA shall sustain and 
maintain assistance to member-OFWs in all its overseas and regional 
offices. Services shall be gender-responsive and shall include information 
regarding the names, occupation/job categories and addresses of the 
member-OFWs; legal assistance providing guidance and information on 
protection of migrant rights, including the prevention of gender-based 
violence; developing materials for the predeparture orientation seminars; 
conducting psycho-social counseling services; conciliation services; 
appropriate services and intervention for victims of gender-based violence, 
and outreach missions, among others. The OWWA shall likewise make 
competent representations with employers, agents, and host government 
authorities to assist member-OFWs in obtaining relief from grievances and 
work-related issues, including claims for unpaid wages, and illegal 
recruitment cases among others. 
(e) Social Benefits. – A member-OFW shall be covered with the following 
social benefits: 
(1) Death and Disability Benefits: 
i. Death Benefits. – A member shall be covered with life insurance 
for the duration of his or her employment contract. The coverage 
shall include one hundred thousand pesos (P100,000.00) for 
natural death and two hundred thousand pesos (P200,000.00) for 
accidental death; 
ii. Disability and Dismemberment Benefits. – Disability and 
dismemberment benefits shall be included in a member’s life 
insurance policy, as provided for in the impediment schedule 
contained in the OWWA Manual of Systems and Procedures. 
The coverage is within the range of two thousand pesos 
(P2,000.00) to fifty thousand pesos (P50,000.00); 
iii. Total Disability Benefit. – In case of total permanent disability, 
a member shall be entitled to one hundred thousand pesos 
(P100,000.00); and 
iv. Burial Benefit. – A burial benefit of twenty thousand pesos 
(P20,000.00) shall be provided in case of the member’s death. 
Based on actuarial studies, the Board may increase the amount of the 
abovementioned benefits. 
(2) Health Care Benefits. – Within two (2) years from the effectivity of 
this Act, the OWWA shall develop and implement health care 
programs for the benefit of member-OFWs and their families, taking 
into consideration the health care needs of women as provided for in 
Republic Act No. 9710, or the Magna Carta of Women, and other 
relevant laws. 
(3) Education and Training Benefits. – A member, or the member’s 
designated beneficiary, may avail any of the following scholarship 
programs, subject to a selection process and accreditation of 
participating institutions: 
i. Skills-for-Employment Scholarship Program. – For technical or 
vocational training scholarship; 
ii. Education for Development Scholarship Program. – For 
baccalaureate programs; and 


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iii. Seafarers’ Upgrading Program. – To ensure the competitive 
advantage of Filipino seafarers in meeting competency 
standards, as required by the International Maritime 
Organization (IMO), International Labor Organization (ILO) 
conventions, treaties and agreements, sea-based members shall 
be entitled to one upgrading program for every three (3) 
membership contributions. 
 
The annual scholarship lists of all these programs shall be submitted to the 
Board. 
 
(F) INVESTMENT AND ANTI-FRAUD ADVICE. – A MEMBER-OFW 
AND/OR HIS/HER IMMEDIATE FAMILY MAY AVAIL OF 
INVESTMENT AND ANTI-FRAUD ADVICE, REFERRAL SERVICES, 
AND CONSULTATION FREE OF CHARGE FROM OFFICE OF OFW 
INVESTOR ADVOCACY CREATED IN THIS ACT.  
 
SEC. 4. Office of the OFW Investor Advocacy. – There is established under the Office 
of the Commissioner the Office of the OFW Investor Advocacy, hereinafter referred to as the 
“Office.”  
 
In general, the head of the Office shall be the OFW Investor Advocate, who shall report 
directly to the Administrator; and be appointed by the Administrator, from a list of three (3) 
nominees submitted by the Chairman of the Securities and Exchange Commission (SEC), from 
among individuals having experience in advocating for the interests of investors in securities 
and investor protection issues, from the perspective of Overseas Filipino Workers (OFWs) and 
retail investors. 
 
The annual rate of pay for the OFW Investor Advocate shall be equal to the highest rate 
of annual pay of a Deputy Administrator. 
 
SEC. 5. Limitation on service. – An individual who serves as the Investor Advocate 
may not be employed by the Commission during the two-year period ending on the date of 
appointment as Investor Advocate; or during the five-year period beginning on the date on 
which the person ceases to serve as the Investor Advocate. 
 
SEC. 6. Staffing. – The Investor Advocate, after consultation with the Administrator of 
the OWWA, may retain or employ independent counsel, research staff, and service staff, as the 
Investor Advocate deems necessary to carry out the functions, powers, and duties of the Office, 
notwithstanding relevant laws, rules, and regulations.  
 
SEC. 7. Functions of the OFW Investor Advocate. – The Investor Advocate shall: 
 
(a) Protect OFWs from potentially fraudulent investment schemes; 
 
(b) Assist OFW retail investors in resolving significant problems such investors may 
have with the SEC, or with other regulatory agencies; 
 
(c) Provide OFWs with reliable advice on investing in safe investments with reasonable 
returns; 


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(d) Administer a hotline that OFWs may refer to for queries on the safety and veracity 
of certain investment products and propositions; 
 
(e) Identify, with the advice of the SEC, potentially fraudulent activities which may 
harm OFWs; 
 
(f) Proactively take measures to ensure that OFWs direct finances towards reliable 
investments; 
 
(g) Collaborate with the SEC and the Bangko Sentral ng Pilipinas (BSP) to enhance the 
financial literacy of OFWs; 
 
(h) Introduce OFWs to reliable financial products that could improve their financial 
security; 
 
(i) Advice OFWs on forms of investment and enterprise that they could transition to 
after their employment abroad; and 
 
(j) Perform such other functions as may be assigned by the Administrator, or as may be 
inherent in his/her role as the state’s financial adviser for OFWs. 
 
SEC. 8. Access to documents. – The SEC and BSP shall ensure that the OFW Investor 
Advocate has full access to the documents of the SEC, the BSP, and any self-regulatory 
organization, as necessary to carry out the functions of the Office. 
 
SEC. 9. Report to Congress. – Not later than June 30 of each year after the effectivity 
of this Act, the OFW Investor Advocate shall submit to the House Committee on Overseas 
Workers Affairs, the House Committee on Banks and Financial Intermediaries, the Senate 
Committee on Labor, Employment and Human Resource Development, and the Senate 
Committee on Banks, Financial Institutions and Currencies a report on the objectives of the 
Investor Advocate for the following fiscal year, and the accomplishments of the Office during 
the previous year. 
 
Each report required shall contain full and substantive analysis and explanation, 
information on steps that the Office has taken during the reporting period to improve OFW 
investor services and financial welfare, and the responsiveness of the Office to OFW investor 
concerns; a summary of the most serious problems encountered by OFW investors during the 
reporting period; recommendations for such administrative and legislative actions as may be 
appropriate to resolve problems encountered by investors; and any other information, as 
determined appropriate by the OFW Investor Advocate. 
No report required under this Section may contain confidential information. 
 
SEC. 10.  Appropriation from the National Government. – The amount needed to carry 
out the initial implementation of this Act shall be charged against the current operative budget 
sourced from the internal funds of the OWWA. Thereafter, such sum representing the 
responsibility of the National Government for the continued operations and maintenance of the 
Office shall be included in the annual General Appropriations Act (GAA). 
 


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Congress shall annually appropriate the necessary amount to meet the funding 
requirement for personal services (PS) and the maintenance and other operating expenses 
(MOOE) of the Office. Nothing in this Act shall prevent the National Government from 
allocating funds for the operation or implementation of any of the programs or services stated 
herein, including the budget for capital outlay (CO). 
 
SEC. 11. Implementing Rules and Regulations. – Within ninety (90) days from the 
effectivity of this Act, the OWWA Board, in consultation with the BSP and the SEC, shall 
promulgate the rules and regulations implementing the provisions of this Act. The 
implementing rules and regulations issued pursuant to this section shall take effect fifteen (15) 
days after its publication in two (2) newspapers of general circulation. 
 
SEC. 12. Separability Clause. – If any provision of this Act is declared unconstitutional, 
the remainder of this Act or any provision not affected thereby shall remain in full force and 
effect. 
 
SEC. 13. Repealing Clause. – All other laws, decrees, executive orders, rules and 
regulations inconsistent with the provisions of this Act are hereby repealed. 
 
SEC. 14. Effectivity. – This Act shall take effect fifteen (15) days after its publication 
in the Official Gazette or in two (2) newspapers of general circulation. 
 
Approved,