Hearing due on Social Security Fund payments

• Published date: 10 February 2023
• Publication title: Bangkok Post

The Ministry of Labour plans to organise a formal public hearing on Feb 28 about its new regulation concerning a plan to lift the salary ceiling used in calculating the monthly contribution by salaried employees to the Social Security Fund (SSF).

Drafted under a proposal already approved by the board of the Social Security Office (SSO) around the middle of last year, the ministerial regulation previously won approval from more than 70% of salaried employees registered under the social security system in a preliminary survey, said the source.

When implemented, the regulation is expected to help improve the SSF's cash flow while registered employees will benefit from a higher rate of financial compensation, such as in the case of unemployment benefits being paid.

According to the source, the current ceiling for salaries used in calculating the monthly contribution is 15,000 baht, meaning that the highest monthly contribution is 750 baht for those...