Thai Social Security Pension Fund: An Analysis of Sustainability and Inter-generational Fairness (in Thai)
This paper portrays the non-sustainability of the Thai Social Security Pension Fund. Actuarial mathematics and mixed methods are used in the analysis. Inequity across generations arises from the risks encountered by the later generations of not being fully obtained their old-age benefits. The results indicate that in 2030 there will be a net expenditure of cumulative reserves; and hence, net liabilities will start to accumulate from that year. All of the fund reserves will be depleted in 2039. In the short run, the research suggests reconsidering the rates of contributions and benefits. Meanwhile the contributors should be informed about the rates that they would have to pay and would receive throughtout their work-age periods. In the long run, the research suggests reconsidering some other possible options for restructuring the Fund to be more in line with the demographic structure of the Thai labour force and Thai society.
Keywords: social security system, welfare policy, intergenerational fairness
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