In a move poised to reshape the way pensions are viewed in the country, a new calculation formula for retirement pensions has been approved. This groundbreaking change, involving the intricacies of Sections 33 and 39 of the Social Security Act, will roll out its benefits starting January 1. Touted as a blueprint for fairness among insurers, it’s set to ring in the new year with fairer benefits for retirees across the nation.
Marasri Jairangsri, the dynamic secretary-general of the Social Security Office (SSO), stood before a throng of eager reporters yesterday, exuding a sense of triumph as she announced that the Social Security Board (SSB) has given the nod to this formula adjustment. Her confident declaration was no ordinary update—it was a promise that better days lie ahead for many.
“This adjustment isn’t just a numbers game,” Ms. Marasri enthused. “It’s a chance to enhance the retirement benefits right from the first breath of 2024.” For those who find themselves under Section 39, who took the bold leap of continuing contributions even after stepping away from formal employment, this translates to a more robust financial cushion.
While discussing the improvements, Ms. Marasri highlighted how the new scheme aims to amend the current system’s shortcomings. “For too long, we’ve seen our comrades in Section 33, hard-working employees caught in the intricate dance of co-payments with their employers and the government, receiving payouts smaller than deserved.” The new calculation intends to redress this balance, creating a more equitable landscape for all involved.
A working group will soon set off on the path to ensuring this new method gives the maximum possible boost to people—without leaving any group straggling behind. An inviting public hearing, a stage for voices and opinions, is on the horizon and will unfold within a quick spin of 90 days. The message is clear: It’s a decision that’s passed through the sieve of collective consultation since its inception in 2020, thanks to countless stakeholders who pushed for change. Ms. Marasri made sure to express gratitude, her sincerity lending weight to her words.
Montree Tirakothat, a representative who stands at the junction of employee interests and board decisions, chimed in with hearty support. “This is a pivotal step toward leveling the social security playing field,” he remarked. “It’s a reflection of what the modern world demands—adapting structures to meet the climbing cost of living we all know too well.”
As the date on the calendar creeps closer to January 1, 2024, it’s clear that this is more than just a bureaucratic shuffle. It’s a reinvigoration of the social security framework, making it relevant and useful for this era. For the 800,000 insurers set to reap the new formula’s dividends, it’s not just about money; it’s a nod to their contribution and tenacity. Their voices, concerns, and future rightly acknowledged in a system that strives not only to provide but to provide fairly.
This pension reform sounds amazing. Finally, we get what’s owed to us. It’s about time for a fair system!
I agree, but I’m worried about the administrative costs and if they’ll cut from other social programs.
You have a point there. I hope they’re transparent about any impacts on other programs.
Changing the formula might seem fair, but what about the people already retired under the old system? That’s not equitable.
Exactly! They should offer compensation to those who have already retired.
But at some point, you have to draw a line. Otherwise, the system can’t sustain itself.
This reform is a breath of fresh air! Retirement has been unfair for too long.
True, but what happens when the economy changes? This might not be enough in the future.
Fair point, Karl. Hopefully, they’ll adjust it as needed, keeping future challenges in mind.
I’m all for it if it helps Section 39 people who’ve contributed without being in formal employment!
Yes, it’s about time their perseverance is rewarded adequately. They’ve been neglected.
Am I the only one who thinks this is just a ploy to win votes before the elections?
Politicians do love to promise the moon just before elections. I’m skeptical too.
Even if it is, if it benefits retirees, does it really matter why it’s being offered?
This new approach should help with reducing inequalities among retirees. Long overdue!
Absolutely, Ming. This kind of reform builds societal trust.
I hope there’s enough bureaucracy to handle this change smoothly. We’ve seen great ideas fail due to poor implementation.
It’s nice to see Montree Tirakothat supporting this. His backing gives it credibility.
Will these changes apply to expats living in Thailand too? That’s something they haven’t addressed.
While it’s great for retirees, will these changes increase costs for current employees? Nothing comes without a price.
Can’t help but wonder if they’ll revert it if it doesn’t work out as planned. Government policies can be unpredictable.
The public hearing should be genuinely inclusive, or we’ll just face new problems down the road.
I’m cautiously optimistic. Change is hard, but we need to start somewhere.
Finally some recognition for those who’ve been contributing to social security without a formal job!
We should follow this closely to ensure it really does what they promise—benefitting the right people.
I trust Marasri Jairangsri. Her leadership has always been about fair practices.
Let’s not forget to hold them accountable. These promises must translate into real benefits.
It’s a step in the right direction for our aging population. Good planning can prevent future crises.