TDRI warns social-security scheme at risk of collapsing
January 03, 2014 00:00 2,668 Viewed
The social-security scheme is at risk of crumbling down if it fails to adjust its old-age benefits, according to the Thailand Research Development Institute (TDRI).
The Social Security Office (SSO), which will start awarding the old-age benefits this year, however is still quite confident that the scheme needs no adjustment in this regard.
Dr Worawan Chandoevwit, the TDRI research director for social security, Friday tried to explain that the old-age benefits for the scheme’s pensioners would allow the pensioners to receive money beyond what they, their employers had paid to the scheme from the seventh years of their retirement life.
“The longer their retirement life, the longer loss the scheme will have to shoulder,” she said.