'Enough social security money' to cover almost 1m laid off in pandemic

MONDAY, MAY 04, 2020

The Social Security Office (SSO) has confirmed it has sufficient funds to pay unemployment support for almost 1 million people who have lost their jobs during the Covid-19 crisis.

Todsapol Krittawongwiman, SSO secretary-general, said there had been 1,117,841 applications for support but only 958,304 qualified. The rest were repeat registrants, he said.
Since April 17, the office has made 455,717 support payments, with another 207,895 in the pipeline. The office will deliver 294,692 payments to employees via their employers.
Of the total Bt2 trillion in the social security fund, 82 per cent is being invested in collaterals backed by the Finance Ministry, including bonds issued by the government, the Bank of Thailand and state enterprises.
The rest is being funnelled into safe investments in infrastructure and real estate.