THE House of Representatives on Tuesday approved two bills on their third and final reading — House Bill No. 10914, the “Free OFW Financial Education Act,” which provides financial literacy training for OFWs and their families, and House Bill No. 10959, the “Overseas Filipino Workers Remittance Protection Act,” mandating a 50% reduction in remittance fees. Authored by the Chair of the House Committee on Overseas Workers Affairs and Tingog Partylist Representative Jude Acidre, these measures aim to enhance financial security, increase disposable income for OFW families, and stimulate local economic growth.
Acidre underscored the importance of House Bill No. 10959, highlighting that a reduction in remittance fees would help ease the financial strain on OFWs. “This measure ensures that more of what our OFWs earn goes directly to their families,” he said. “By lowering fees, we allow OFWs to focus their income on essentials, enabling their hard work to make a real difference for their loved ones.”
The anticipated impact on OFW families includes increased disposable income, helping them to cover essentials like food, education, healthcare, and housing with greater ease. “More resources mean families can invest in opportunities that bring lasting change,” Acidre noted. “These savings support education, improve household stability, and open doors for small enterprises—all steps toward a secure and stable future.”
On a broader scale, the bills are expected to bolster local economies. As OFW households increase their spending, demand for goods and services rises, fueling business growth and job creation. “When families have more to spend, communities benefit,” Acidre said. “This positive ripple effect strengthens local economies, especially in rural areas where remittance income is often a lifeline.”
House Bill No. 10914 complements these efforts by equipping OFWs and their families with financial knowledge to manage their resources wisely, avoid high-interest loans, and recognize scams. “This training is about empowering OFWs and their families to make sound financial decisions and plan for the future with confidence,” Acidre explained.
Now advancing to the Senate, these bills reflect a strong commitment to supporting OFWs, enhancing family income stability, and fostering sustainable growth. By reducing remittance fees and providing practical financial education, the legislation aims to strengthen the economic security of OFWs, their families, and the communities they support.
“Alam natin na hindi lang pera ang ipinapadala ng ating mga OFW—kundi ang pagmamahal at pangarap nila para sa kanilang pamilya,” Acidre concluded. “Sa mga batas na ito, gusto nating iparamdam sa kanila na hindi sila nag-iisa; kasama nila ang gobyerno sa bawat hakbang para mas mapadali ang buhay ng kanilang mga mahal sa buhay dito sa Pilipinas.”
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