SSO considers contributions
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To cope with cost burdens as a result of the new government's flat Bt300 daily wage policy, the Social Security Office is heeding to employers' request that their monthly contribution from five per cent should be reduced.
Labour Ministry permanent secretary Somkiat Chayasriwong said the reduction rate was not known until midOctober, and claimed that it would not affect either the SSO's cashflow or beneficiaries' benefits, especially the retirement payment which would begin in the next three years.
Somkiat's statement contradicts with widespead worries by employees supported by many studies which say the Bt830billion SSO fund would be depleted by 2043 when retirement pays begin and if there are no other measures to boost investment profits or subsidise the payments are put in place.
