Thailand's Social Security Fund faces imminent collapse due to declining contributions and rising expenditures.
Thailand's Social Security Fund (SSF) is on the brink of collapse due to declining workforce contributions and rising expenditures. Without intervention, the fund's spending may outpace income within a decade, risking depletion in 30-40 years. Labour Minister Phiphat Ratchakitprakarn suggests raising salary caps, increasing contributions, and extending retirement age as potential solutions. However, substantial reform is unlikely without decisive policy action.
September 07, 2024
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