Thailand social security department (SSD) has false set up the pension's benefit since the organization was born.

SSD boards have guaranteed amount of pension's benefit by the in-flow of social security fund concept. If they use the same concept of Government Pension Fund (GPF) that is paid pension's benefit from the social security insured contribution's ratio.

We have seen many angry retired servants when they have retired and gotten their deficit GPF rewards if they have to redeem it in the stock market crisis year.

However, SSD has fixed the pension's benefit from the number of contribution's year and the flow of fund's contribution has mismatched from less insurer and more pensioner.

Thus, SSD fund will collapse and the way to fix it is not to increase the amount of contribution from the newer but it need to change the pension benefit payment system like GPF system.

PS, if You understand economics theory, not political economy theory, then You could understand everything as same as Buddha that is not only mean to Siddhartha.

#Econ101 #SocialSecurity #SSD

#Labor #Labour #SiamStr