Over 10 million members of the Social Security Fund (SSF) can now sigh with relief after the rumours that the caretaker government was trying to get a 100-billion-baht loan from the SSF were quickly dispelled by the fund's management following fierce opposition from labour unions.
The rumours started after the Bank for Agriculture and Agricultural Co-operatives refused to give the caretaker government a 55-billion-baht emergency loan to quell the anger of more than one million rice farmers who are still waiting for payment from the rice pledging scheme.
The social security members' fears of political intervention is rooted in their deep distrust of the fund managers. The management of the one-trillion-baht fund is known for its inefficiency and lack of transparency, which systematically opens the door for political intervention.
Although their latest concerns may have been put to rest for now, the fund still has more problems. One of the main complaints from social security members is that although they have to pay a monthly fee of up to 750 baht, the healthcare benefits they receive are inferior to those offered by the universal healthcare system which is practically free.
In response, social security welfare authorities have tried to improve these benefits, but the process has been slow, and the results far from satisfactory.
This inefficiency has led to a campaign by consumer groups to allow workers to transfer their contributions to their pension funds instead.
The permanent secretary-general of the Labour Ministry is by default the chairman of the fund, but the fund needs to be looked after by somebody with professional financial investment skills.
Representatives of the business and labour sectors on the Social Security Office's board of directors also are appointed.
The workers want the board members to be elected and the number of workers' representatives increased.
Labour activists have also campaigned to cap the Social Security Office's administrative expenses, which can now reach up to 10% of the fund, or 10 billion baht. They have also called for transparency in the purchasing and procurement system to try and curb corruption.
Last year, a social security bill sponsored by public petitioners was sent to parliament.
The aim was to free the Social Security Office and Social Security Fund from officialdom, ensure professional management, and set in place a more transparent system that allows more participation from workers to improve benefits and curb corruption.
The bill was sponsored by nearly 15,000 workers and vetted by workers in public hearings across the country.
They believed it would also help prevent political intervention. But the bill was quickly dismissed in parliament.
Sponsoring people's bills is democracy in action. Yet most people's bills that manage to reach parliament are simply ditched.
Since the caretaker government and the People's Democratic Reform Committee have both vowed to a commitment to democracy and reform, they must make it clear how bills sponsored by the people will be given more weight in the parliamentary system.
Meanwhile, public pressure on the Social Security Office must continue so the one-trillion-baht fund can be more efficiently managed to improve members' benefits and ensure fund sustainability.