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(NAR) VOL. 18 NO. 4/OCTOBER - DECEMBER 2007
[ PRA, October 25, 2007 ]
IMPLEMENTING RULES AND REGULATIONS ON THE ACCREDITATION OF OFWS AS ENDORSERS OF THE PRA PROGRAM
Pursuant to Board Resolution No. 104 series of 2007 and the Memorandum of Agreement (MOA) entered into by and between the Philippine Retirement Authority (PRA) and National Reintegration Center of OFWs (NRCO) under DOLE, the following rules and regulations are hereby promulgated to govern the implementation of the said policy.
For purposes of these Rules, the following terms used herein shall have the following meaning:
a. Authority - refers to the Philippine Retirement Authority (PRA).
b. NRCO - refers to the National Reintegration Center of OFWs under DOLE.
c. OFW - refers to the Overseas Filipino Workers registered with either the Overseas Workers Welfare Administration (OWWA) or Philippine Overseas Employment Administration (POEA).
d. Endorser - refers to an OFW authorized to promote the PRA’s SRRV program and is entitled to a referral fee.
e. Referral Fee - refers to the fiscal incentive paid to the OFW/Endorser for every successful SRRV principal enrollee referred to the PRA program.
a. Overseas Filipino Workers (OFWs) registered with either OWWA or POEA and endorsed by the NRCO.
b. He/She is a holder of a valid Philippine passport.
c. He/She is willing to attend a briefing seminar about the retirement program of PRA as a prerequisite for the issuance of the Certificate of Registration.
d. He/She is willing to comply with the documentary requirements for accreditation as an endorser, such as:
e. These Rules shall NOT apply to former Filipino Citizens who have been naturalized in a foreign country.
SECTION 1. The letter endorsement issued by the Office of the NRCO recommending the accreditation of an OFW as Endorser of the PRA’s SRRV program;
SECTION 2. The letter recommendation must state the profile of the OFW i.e. educational background, years of experience as OFW, overseas assignments, skills, etc.
SECTION 3. Upon verification and validation of the documents submitted to PRA, the authority shall issue the corresponding Certificate of Registration as Endorser, which shall be released in person to the OFW concerned after being briefed about the PRA program.
SECTION 4. The existing rules enforced by PRA on the release of the Marketer’s Fee shall govern in the payment of the referral fee except for the submission of the Certificate of Attendance which shall now be substituted by a Referral Form accomplished by the SRRV applicant and endorsed by the OFW/Endorser.
SECTION 1. Applicability. These rules shall apply only to OFWs registered with either OWWA or POEA, endorsed by NRCO and accredited by PRA as Endorser.
SECTION 2. The Certificate of Registration issued to an OFW is valid for one (1) year and renewable every year thereafter, at no cost to the OFW.
SECTION 3. The referral fee equivalent to US$250.00 shall be paid to the OFW/ Endorser himself or through his account in any of the commercial bank in the Philippines.
SECTION 4. The referral fee shall be paid in Philippine currency less the withholding tax.
SECTION 1. Separability Clause. The provisions of this Implementing Rules and Regulations (IRR) and declared to be separable, and if any provision or section of their IRR or application thereof to any person or circumstances should for any reason be held invalid or unconstitutional, such invalidity or unconstitutionality shall not affect the other provisions or sections of this IRR.
SECTION 2. Effectivity. This IRR shall take effect 15 days from date of its publication.
RULE 1. DEFINITION OF TERMS
For purposes of these Rules, the following terms used herein shall have the following meaning:
a. Authority - refers to the Philippine Retirement Authority (PRA).
b. NRCO - refers to the National Reintegration Center of OFWs under DOLE.
c. OFW - refers to the Overseas Filipino Workers registered with either the Overseas Workers Welfare Administration (OWWA) or Philippine Overseas Employment Administration (POEA).
d. Endorser - refers to an OFW authorized to promote the PRA’s SRRV program and is entitled to a referral fee.
e. Referral Fee - refers to the fiscal incentive paid to the OFW/Endorser for every successful SRRV principal enrollee referred to the PRA program.
RULE 2. PERSONS ELIGIBLE
a. Overseas Filipino Workers (OFWs) registered with either OWWA or POEA and endorsed by the NRCO.
b. He/She is a holder of a valid Philippine passport.
c. He/She is willing to attend a briefing seminar about the retirement program of PRA as a prerequisite for the issuance of the Certificate of Registration.
d. He/She is willing to comply with the documentary requirements for accreditation as an endorser, such as:
d.1 Accomplished Information Sheet d.2 Resume/Bio data with 2x2 picture
d.3 Letter Endorsement by the Office of the NRCO;
d.4 Certificate of Registration or any other similar document issued by either OWWA or POEA
d.5 Bank Account in the name of OFW concerned
d.6 Letter/Authorization of OFW to deposit referral fee to his/her account
e. These Rules shall NOT apply to former Filipino Citizens who have been naturalized in a foreign country.
RULE 3. PROCEDURAL/DOCUMENTARY REQUIREMENTS
SECTION 1. The letter endorsement issued by the Office of the NRCO recommending the accreditation of an OFW as Endorser of the PRA’s SRRV program;
SECTION 2. The letter recommendation must state the profile of the OFW i.e. educational background, years of experience as OFW, overseas assignments, skills, etc.
SECTION 3. Upon verification and validation of the documents submitted to PRA, the authority shall issue the corresponding Certificate of Registration as Endorser, which shall be released in person to the OFW concerned after being briefed about the PRA program.
SECTION 4. The existing rules enforced by PRA on the release of the Marketer’s Fee shall govern in the payment of the referral fee except for the submission of the Certificate of Attendance which shall now be substituted by a Referral Form accomplished by the SRRV applicant and endorsed by the OFW/Endorser.
RULE 4. TERMS AND CONDITIONS
SECTION 1. Applicability. These rules shall apply only to OFWs registered with either OWWA or POEA, endorsed by NRCO and accredited by PRA as Endorser.
SECTION 2. The Certificate of Registration issued to an OFW is valid for one (1) year and renewable every year thereafter, at no cost to the OFW.
SECTION 3. The referral fee equivalent to US$250.00 shall be paid to the OFW/ Endorser himself or through his account in any of the commercial bank in the Philippines.
SECTION 4. The referral fee shall be paid in Philippine currency less the withholding tax.
RULE 5. OTHER PROVISIONS
SECTION 1. Separability Clause. The provisions of this Implementing Rules and Regulations (IRR) and declared to be separable, and if any provision or section of their IRR or application thereof to any person or circumstances should for any reason be held invalid or unconstitutional, such invalidity or unconstitutionality shall not affect the other provisions or sections of this IRR.
SECTION 2. Effectivity. This IRR shall take effect 15 days from date of its publication.