The Senate has approved on third and final reading a measure that will provide overseas Filipino workers (OFWs) and their families with free financial literacy education, aimed at safeguarding their earnings and promoting long-term economic security.
Senator Raffy Tulfo, chair of the Senate Committee on Migrant Workers, expressed gratitude to his colleagues for backing Senate Bill No. 1910, or the Free Financial Literacy Education for Overseas Filipino Workers and their Families Act, passed on Monday, March 16.
Tulfo, the bill’s sponsor and author, said the measure seeks to equip OFWs with the knowledge and skills to properly manage, grow, and protect their hard-earned income.
“The approval of this bill on third reading demonstrates our unwavering commitment to supporting OFWs—not only concerning their physical health and safety, but also in protecting their hard-earned money. We all recognize that these earnings are the result of their hard work and determination abroad,” Tulfo said.
He emphasized that financial literacy will help migrant workers avoid scams, invest wisely, and build financial security for themselves and their families.
“Although this legislative measure may appear simple and brief, it represents a substantial advancement toward helping OFWs secure their futures. By promoting financial literacy, we enable our migrant workers to make wise monetary decisions, avoid predatory financial scams, invest wisely, and build financial security for themselves and their families,” he added.
Under the bill, OFWs will undergo free financial literacy training integrated into programs such as Pre-Departure Orientation Seminars (PDOS), Post-Arrival Training Seminars (PATS), Pre-Migration Orientation Seminars (PMOS), and family learning sessions.
The training will cover essential topics including money management, investing, consumer protection, and entrepreneurship. The measure also provides access to online financial advisors and certified counselors for OFWs and their families worldwide.
Tulfo reiterated that OFWs, often regarded as “modern-day heroes,” face various risks abroad, making it crucial to ensure their remittances are properly managed and invested.
“Financial literacy is more than managing money. It is about dignity, security, and giving our OFWs the tools to thrive both abroad and at home,” Tulfo said.
The proposed law seeks to strengthen financial awareness among migrant workers and ensure their earnings are protected and used effectively for a more secure future.