SSO Lump Sum vs. Section 39: Best Financial & Healthcare Decision?

[Globenauta]

Hi everyone,

 

I originally posted this in the "Insurance in Thailand" section, but I didn’t get clear responses. Since this is also a financial planning issue, I hope someone in this section has first- hand experience or insightsabout SSo pensions & health coveragedecisions.

 

My situation:

 

• I recently left my job and now have the option to apply for SSO Section 39 (self-funded) to continue health insurance and social security contributions.
• However, the SSO officer also mentioned that I can withdraw a lump sum, which is the total amount I contributed over my working years.
• I was told conflicting things: some say taking the lump sum cancels Section 39 eligibility, others say it does not.

 

What I need ot decide:

 

1. If I take the lump sum, can I still apply for Section 39 and keep health insurance?
2. Would it be financially smarter to take the lump sum or continue contributions for a pension?
3. Has anyone been through this process? What was your experience?

 

 

• - My priority is keeping the health insurance under SSO
• - Pension consideration: If I reach 15 years of contributions, I might get a small monthly pension. But some say it’s so small that taking the lump sum is always the better option.

If you’ve been in this situation or know someone who has, please share your experience! I really appreciate any advice before I go back to the SSO office.

 

Thanks in advance!

 

[Globenauta]

Update: I now have only a few days left to apply for SSO Section 39 and keep my health insurance, so I need to make a final decision soon.

 

During my last visit to the SSO office, the officer told me I can withdraw a lump sum of my past contributions (about 90k THB). However, I wasn’t able to get a clear answer on whether taking this lump sum would mean losing the ability to apply for Section 39 and continue receiving health coverage.

 

Recently, I was toldvI can still apply for Section 39 after withdrawing the lump sum, but I won’t get a pension later (even if I reach eligibility in the future).

 

My main concern is keeping health coverage, but I’m also wondering if keeping my contributions for a future pension is worth it. I know SSO pensions are very small, but since they are paid for life, they could eventually outweigh the 90k lump sum.

I’d really appreciate hearing from anyone who has faced this decision:

• Did you take the lump sum or keep your contributions and later receive a pension?
• Was it really a choice, or were you forced into one option?

Any feedback would be very helpful before I go back to SSO.

 

Thanks in advance!