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Public feedback needed if social security contribution is to be increased

Public feedback needed if social security contribution is to be increased

15 Sept 18:32 Key points summarised by AI
  • The Office of Social Security will hold public forums to gather opinions on a proposed increase in social security contributions.
  • The proposal suggests raising monthly contributions from 750 baht to 1,000 baht for individuals earning over 15,000 baht.
  • The current 5% contribution rate, in place for two decades, is considered outdated given the significant increase in minimum wages since its inception.
  • The social security board has not yet approved the increase, emphasizing that public feedback is crucial before any final decision is made.
  • Despite the proposed changes, the social security fund remains robust, boasting 1.8 trillion baht and substantial annual gains.
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