Cash rich SSO
The Social Security Office (SSO) has up to Bt427 billion in funds including Bt97.31 billion in profits accumulated over the past 17 years.
SSO deputy spokesman Win Prompaet yesterday said the huge profits came from the decision to invest in the stock market. "The annual profit rate is about 5 per cent," he said, adding that the SSO reaped Bt17.34 billion in profits last year. According to Win, 83 per cent of the SSO funds were placed in secure investments such as government bonds, while the rest went on "riskier" investments. However, Thammasat University economics lecturer Direk Pattamasirirat, said the SSO remained "too conservative" in making investments. He said if funds in the hands of the SSO or the Social Security Fund did not rise faster, the SSO would have problems paying pension benefits to its insured members later. The SSO board has already assigned another Thammasat University lecturer, Somkid Lertpaitoon, to come up with a detailed plan on how to restructure the SSO investment unit.
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