Truce called in battle over Thailand’s retirement fund but ‘grey army’ growing fast

14 Sept 03:09 Key points summarised by AI

Thailand's Labour Minister halted plans to raise the retirement age from 55 to 60, offering relief to company workers amidst warnings that the Social Security Office (SSO) retirement fund faces collapse by 2045-2054 due to an aging population.
The SSO plans gradual reforms to bolster the fund, including raising the maximum monthly salary recognized for contributions from Bt15,000 to Bt20,000, which would increase member contributions without reducing benefits.
Strong opposition from labour unions and MPs rejects raising the retirement age, arguing it would create a five-year income gap for those retiring at 55 and emphasizing the fund's current multi-trillion baht assets as sufficient.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.