SSO to start paying pensions this month thanks to Bt46 bn earnings
February 19, 2014 00:00 By The Nation 2,645 Viewed
Since the Social Security Office (SSO) earned Bt46 billion from investments last year, it will for the first time begin paying eligible subscribers an old-age pension from this month, the Labour Ministry's permanent secretary said.
Jeerasak Sukhontachat confirmed yesterday that the Bt1-trillion fund, which has about 12 million subscribers, had earned Bt46 billion from investments last year and should therefore be able to start paying pensions to tens of thousands of people this month.
He added that the SSO had about 1.5 million subscribers who were outside
the system under Article 40 of the Social Security Act with total contributions worth Bt1 billion. The SSO also has 390,000 subscribers who are migrant workers, including 230,000 from Myanmar, 73,000 from Cambodia and 11,000 from Laos.