Social Security Fund to be reorganized

Deputy Prime Minister and Minister of Social Development and Human Security, Paiboon Wattanasiritham, says the ministry supports the reorganization of the social security fund to be a public organization.

Mr Paiboon says during the opening ceremony of a public forum on social security system that the reorganization of the social security fund will help it functions more efficiently. The fund is expected to be turned into a public organization guaranteed by an Act.

The ministry expects that after the fund has been transformed into a public organization, it will work more independently without commercial incentive. The government’s social security fund has operated for 17 years and has more than 400 billion baht to assist to more than nine million laborers. Mr Paiboon says the fund does not have to be reorganized completely and stresses that a new committee might be set up to manage it.

Honorable Academic of the Thailand Development Research Institute (TDRI), Dr.Ammar Siamwalla (อัมมาร สยามวาลา), says most of the money of the social security fund are savings for retired people which might vanish in the next 40 years if they were not managed proprerly.

He therefore suggests the ministry to invite professional executives to run the fund and says he thinks that the fund has enough capacity to provide social security for children and wives of social security card holders.

Source: Thai National News Bureau Public Relations Department - 15 June 2007

Social Security Fund to be reorganized

Deputy Prime Minister and Minister of Social Development and Human Security, Paiboon Wattanasiritham, says the ministry supports the reorganization of the social security fund to be a public organization.

Mr Paiboon says during the opening ceremony of a public forum on social security system that the reorganization of the social security fund will help it functions more efficiently. The fund is expected to be turned into a public organization guaranteed by an Act.

The ministry expects that after the fund has been transformed into a public organization, it will work more independently without commercial incentive. The government's social security fund has operated for 17 years and has more than 400 billion baht to assist to more than nine million laborers. Mr Paiboon says the fund does not have to be reorganized completely and stresses that a new committee might be set up to manage it.

Honorable Academic of the Thailand Development Research Institute (TDRI), Dr.Ammar Siamwalla (อัมมาร สยามวาลา), says most of the money of the social security fund are savings for retired people which might vanish in the next 40 years if they were not managed proprerly.

He therefore suggests the ministry to invite professional executives to run the fund and says he thinks that the fund has enough capacity to provide social security for children and wives of social security card holders.

Source: Thai National News Bureau Public Relations Department - 15 June 2007

there you go a new job foe ex thai rak thai workers