Senate approves Free OFW Financial Education Act on final reading

The Senate on Monday, approved on third and final reading a measure aimed at providing overseas Filipino workers (OFWs) and their families with financial literacy skills to help protect their income and strengthen long-term economic security.

Senator Raffy Tulfo, who sponsored and authored Senate Bill No. 1910 or the Free OFW Financial Education Act, said the proposal seeks to empower OFWs to properly manage, grow, and secure their earnings.

“Our OFWs are our modern-day heroes. They work tirelessly abroad to provide for their families, often facing risks and uncertainties. This measure ensures that their hard-earned money is not just sent home—it is protected, wisely used, and invested for a better future,” he said.

The bill mandates all OFWs to undergo comprehensive financial literacy training, which will be incorporated into existing programs such as the Pre-Departure Orientation Seminars (PDOS), Post-Arrival Training Seminars (PATS), Pre-Migration Orientation Seminars (PMOS), and family learning sessions.

These seminars—covering topics like money management, investing, consumer protection, and entrepreneurship—will be provided at no cost.

“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 measure also includes provisions for online access to financial advisors and certified counselors, allowing OFWs and their families to seek guidance regardless of location. Funding for the program will be sourced from the annual General Appropriations Act (GAA) to ensure the continued rollout of its services and initiatives.