MANILA — Less than half of overseas Filipino workers (OFW) have opened local bank accounts, the Department of Migrant Workers (DMW) said on Monday as the agency pushes to educate more overseas workers to invest their earnings before retirement.

 “Less than 50 pct have bank accounts, DMW Secretary Hans Cacdac told state television PTV.

 “Kailangan talaga na yung binabalik na pera o yung nireremit na pera ay iniimpok sa bangko,” he said.

The DMW has been holding financial literacy seminars for OFWs. It also opened loans and grants for distressed overseas workers to be able to start anew once they return to the Philippines, he said.

“Binibigyan sila ng pondo pang negosyo,” he said.

Meantime, domestic workers are being “encouraged to come home to become public school teachers,” Cacdac said.

“May 1,000 every year na pumapasok sa programang iyon,” he said.

 “May mga livelihood training din sa mga national and regional reintegration centers,” he said.

The DMW is working to develop other programs that can cater to other professionals who wish to return to the Philippines to “teach or be part of local hospitals.”