Thai Social Security

[Number 6]

If my employers have been paying into SS for seven years what do you suppose the cash benefit to be when I retire? My last job I'd say 8 made as much as a bank branch manager in a good location. This job 50% more. Is payout weighted against contributions?

 

What sort of medical am I entitled to for life I believe? Limited to government hospitals? Do I need to continue to pay in?

[Worldplus]

Don't understand a word of that post..

 

Re write it..

[Kwasaki]

4 hours ago, Number 6 said:

What sort of medical am I entitled to for life I believe? Limited to government hospitals? Do I need to continue to pay in?

You don't explain well, as I see it if you mean 15 years of measly payment to Thai SS and you are a falangie you'll get very little if anything at all.

The only way is for you to go to SS and ask them.

[Irishrogue]

After 8 years of working for a company as Executive Director and which I set up, I took only 50K THB/month when I retired I was given 176K THB by SS department and I am covered for medical expenses in excess of the government requirements. I also received a retirement package but that is a private matter.

[RICO86]

Hahaha! Retirement! Where's the <deleted> money from when we get laid off from work during this Clovid BS??!

Be been paying into Thai S.S. for 10 years.

Social Security has not answered us yet....

Probably invested all that money into the stock market and lost !

I'll be lucky if it covers me in the <deleted> hospital????

[JoePai]

On 5/8/2020 at 3:10 PM, Dickincider said:

Hahaha! Retirement! Where's the <deleted> money from when we get laid off from work during this Clovid BS??!

Be been paying into Thai S.S. for 10 years.

Social Security has not answered us yet....

Probably invested all that money into the stock market and lost !

I'll be lucky if it covers me in the <deleted> hospital????

I have good news for you - you are covered in the hospital - see how lucky you are !!

[natway09]

I presume you are on the highest contribution of 750 .Bht a month which your employer matches.

Add some interest & you can work it out yourself 

[BigStar]

5 hours ago, Irishrogue said:

After 8 years of working for a company as Executive Director and which I set up, I took only 50K THB/month when I retired I was given 176K THB by SS department and I am covered for medical expenses in excess of the government requirements. I also received a retirement package but that is a private matter.

About the only intelligent answer here. That cash benefit sounds about right for the salary. It's not large by Western standards and not enough to live on for long--but something anyway.

 

The main thing to apply to SS to continue making health insurance payments and so continue your health insurance. Applies at gov't hsps only and only to one of those on the approved list. However, good gov't hsps, if not THE best, are on the list. There are exceptions such as emergencies or a required procedure unavailable at your hospital of registration. Great coverage, though.

[Number 6]

8 hours ago, Kwasaki said:

You don't explain well, as I see it if you mean 15 years of measly payment to Thai SS and you are a falangie you'll get very little if anything at all.

The only way is for you to go to SS and ask them.

Thisvisca rubbish non answer. First, for Thailand I make great money. Second, I don't believe in leaving money on the table.

 

Finally, you haven't a clue so I guess I will.

[KhaoNiaw]

It doesn't matter about your salary once it's over 15,000 baht per month. That's the cap for the social security payments. So your own contribution is capped  at 750 baht and your employer pays the same. If you've paid in for 15 years, you'll get 3,000 baht a month. Over 15 years and there's a formula to work it out, which I can't remember exactly, but 20 years would give you just over 4,000 baht a month. They do pay out to foreigners. If you've paid in for less than 180 months, I think you get a lump sum of the contributions made plus interest.  
I didn't think you could get a lump sum if you'd paid in over 180 months but I seem to remember reading not so long ago that someone had been able to do that. Also, something about choosing between the monthly pension or continuing healthcare but I'm not up on it enough to know. 

[Sheryl]

The flamefest is officially over. Please keep it civil.

 

For the health benefit -- which is entirely separate from the pension aspect --  to maintain it for life you have to continue paying inylto it. Very much worth doing.