The Finance Ministry is studying a plan to separate the retirement fund from the Social Security Fund and seek ways to more efficiently and flexibly promote the retirement fund, especially in terms of management, says Warotai Kosolpisitkul, an adviser to the Fiscal Policy Office.
Currently a committee under the Labour Ministry oversees the Social Security Fund.
Mr Warotai said the retirement fund might be moved to and then managed by the Finance Ministry.
He said there are concerns over the next 15 years payments from the Social Security Fund to retiree members would surpass existing members’ contributions to the fund. This would affect the retirement fund.
The retirement fund is paid on a monthly basis to retirees, aged 55 and above, who have been with the Social Security…
