Julapun advances Social Security pension overhaul (opens original article in a new tab)

Thailand's Labour Minister plans to introduce a new pension calculation formula to address system loopholes and ensure fairer benefits for workers, with existing pensioners protected from negative impacts.

• Labour Minister Julapun Amornvivat plans to submit a new pension calculation formula to the cabinet to close system loopholes
• The Care formula, studied since 2020, aims to ensure fairer benefits while maintaining fund sustainability
• Existing pensioners will retain benefits calculated using the higher of the current or new formula