Thailand’s Social Security Fund comes under scrutiny in election campaign

21 Sept 02:52 Key points summarised by AI

The Social Security Fund (SSF) faces intense scrutiny during the election campaign over alleged poor management, questionable investments, and low returns, prompting calls for immediate reform.
The People's Party advocates for separating the 2.9-trillion baht fund from the Labor Ministry, proposing independent management by professionals to enhance transparency and prevent misuse.
Critics highlight the fund's low actual returns (2-3%) compared to international benchmarks, warning that current governance issues and an aging population could lead to deficits within decades, jeopardizing retiree welfare.
Experts recommend urgent structural adjustments, including raising the retirement age, harmonizing benefits for all workers, and potentially separating pension and health benefits to ensure the fund's long-term viability.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 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.