Social security must shape up

EDITORIAL

Published: 31 Aug 2012 at 00.00
Newspaper section: News

It was an historic milestone for the whole kingdom when the labour movement succeeded in pushing to establish the Social Security Fund 22 years ago.

Back then, only government officials were entitled to receive health and other welfare benefits while the social security system for the general public was nearly non-existent. Employees in the private sector then felt fortunate to get welfare protection under the Social Security Fund.

Not any longer.

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whatajoke
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Discussion 2 : 02 Sep 2012 at 17.452
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Something like this sounds like far more of a priority than constitutional amendment or amnesty, but of course the 9 million who are trapped in this scheme and pay in, mostly didn't vote for this govt, so they are a lower priority.
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Eric
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Discussion 1 : 31 Aug 2012 at 11.461
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Couldn't agree more with the article. The Social Security Fund should look at the Singapore CPF and the Malaysia EPF structure. The massive funds are better managed by a statutory board than by the slow decision making Ministry. There is a total lack of transparency in each individual contributor. The Social Security Fund original objectives were to allow saving for the retirement and health care. However contributors have no knowledge of their accumulated balance plus the interest. The massive funds are invested in whole range of instruments which we have no information. CPF and EPF provide a monthly statement of each individual balances or you can excess online to check your account. I am sure none knows at what age we can withdraw our accumulated balance.
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Social security must shape up | Bangkok Post: opinion