Social Security Agreement Thailand
Formal scheme (social security): 3% of gross monthly salary (old-age benefits). Voluntary insured persons pay an annual flat-rate contribution of 5,184 baht (disability and survivors` benefits). The Social Security Office (www.sso.go.th) manages the social security systems for workers in the formal and informal sectors. Informal scheme (social security): 70 baht per month (disability and survivors` benefits) or 100 baht per month (old-age, invalidity and survivors` benefits). Additional contributions are possible for the old-age allowance. First and current legislation: 1990 (social security), implemented in 1991, 1998 and 2011; 1990 (sickness and medical benefits); and 2002 (general health care). There is rarely a need for legal intervention when it comes to social security law, but Juslaws & Consult can advise on the impact of the law on your business. In some cases, Juslaws & Consult may represent a worker, since an employer has made deductions for social security on behalf of the worker, but has never registered the worker. Juslaws & Consult can also help clients register the Fund and ensure that all state requirements are met. Formal scheme (social security): 1% of gross monthly salary (old-age benefits). The Ministry of the Interior (www.moi.go.th) oversees the management of the social assistance pension scheme. Old-age pension (social assistance): 600 baht is paid to persons aged 60-69; 700 baht aged 70-79 years; 800 baht aged 80-89 years; and 1000 baht if you are 90 years old or older. Informal social security scheme: voluntary coverage for workers in the informal sector.
The Social Security Office may suspend benefits if the insured person no longer fulfils the conditions. Survivor`s allowance (informal scheme): a lump sum of the pension plus the balance of the insured person`s additional contributions is paid to eligible survivors. . Survivor`s allowance (formal scheme): is paid if a pensioner dies within 60 months of obtaining the right to an old-age pension. Family allowances: must have contributed at least 12 months in the 36 months preceding the month of entitlement. The minimum monthly income used for the calculation of contributions is 1,650 baht. The National Health Security Office (www.nhso.go.th), managed by the National Health Security Board and the Health Service Standard and Quality Control Board, manages the program through licensed health units and public networks. This was announced by the cabinet on 1 September 27, 2020, in the draft communication of the Ministry of Labour on the criteria, methods and conditions for reducing the social security contributions of employers and insured persons during the outbreak of the coronavirus 2019 (COVID-19). The draft notification is expected to enter into force soon, well before the September 2020 deadline of 15 October for contributions. A new communication from the Thai government will launch a second phase of reducing the required contribution rates of the Social Security Fund (SSF).
The new communication will reduce the necessary contributions to 2% of employees` wages, for both employers and workers, for a period of three months. . . .