RETIREMENT
Falling collections, pensions endanger Social Security Fund
- Published: 23/01/2012 at 02:07 AM
- Newspaper section: News
The Social Security Fund may soon find itself in financial difficulties when it starts paying old-age pensions in 2014, according to a top academic.
Narong Phetprasert, an economics lecturer at Chulalongkorn University, said contributions to the fund have been inconsistent and have fallen, meaning it will take in 67 billion baht less this year than it did in 2011.
He said the government reduced its contribution to the SSF from Jan 1 after the Social Security Office's (SSO) budget was cut by half, from about 21.8 billion baht to 11.2 billion baht.
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