Thai Social Insurance: What Are Retirement Benefits For Foreigner?

[thaitanic]

I've been paying social insurance monthly now for around 5 years now as an employee of a Thai Limited Company in Phuket. I'm British. But I probably have to go overseas for 4.5 - 6.5 months later this year.

Regarding social insurance, I don't really know what future benefits I might receive but I have heard a couple of rumours:

- If I keep paying then I can get a lump sum when I retire.

- If I stop paying for 5 months or more then future benefits are lost and I have to start over when I restart work.

Can someone please clarify this?

1. What is the minimum retirement age?

2. How much is the lump sum?

3. What's the minimum gap in payments (e.g. 5 months)?

4. Can I make voluntary payments during the time I'm out of work so future benefits are not lost?

Thanks!

[johnnymoretti]

Can't speak for UK, but we Americans have different rules regarding Social Security bennies while working in Thailand (or any other country, for that matter). As I see it (and correct me if I'm wrong) if I am collecting social sec benefits from the US while working in Thailand, I risk losing all my benefits if I am NOT at the age of full retirement (age 65 in the US) unless I work less than 45 hours per week. I can collect Thai benefits I contribute to but must be very careful about the hours I work and some other factors. You can go to www.ssa.gov to get more info on US requirements.

Forgive me if I missed the mark of your questions. Hope you get answers.

[KhaoNiaw]

The retirement age is 60.

I'm no expert and I'm just going from memory here. I think you can only receive a lump sum if you have contributed for a shorter period (I can't remember how many years exactly, possibly up to 10). Longer than that and you receive a monthly pension. As an example, our personnel people told me that after 20 years of contributions (at the maximum 750 baht /month) I should be getting around 3,000 baht per month.

I have a neighbour that has continued to make contributions even though she is no longer working.

Edited February 29, 2008 by KhaoNiaw

[thaitanic]

Thanks. Anyone got any info on the maxiumum "gap" in contributions before having to start from scratch?

[naka]

3,000 baht per month.

Naka

[bruceboy]

I would like to hear of any 'falang' that has actually recieved any Thai social benefits.

[KhaoNiaw]

I think there was someone who posted on here (maybe another forum) once who said he was able to recover a lump sum after quitting his job and deciding to leave Thailand. I also know a couple of people who have used their registered hospital under the social insurance scheme. I've never tried that because I've never needed to yet.

As for retirement, I don't think the scheme has been going long enough for anyone, Thai or farang, to have made the required contributions yet.

[a2396]

The retirement age is 60.

I'm no expert and I'm just going from memory here. I think you can only receive a lump sum if you have contributed for a shorter period (I can't remember how many years exactly, possibly up to 10). Longer than that and you receive a monthly pension. As an example, our personnel people told me that after 20 years of contributions (at the maximum 750 baht /month) I should be getting around 3,000 baht per month.

I have a neighbour that has continued to make contributions even though she is no longer working.

I didn't know they had any such thing in Thailand. Is a Thai worker required to contribute to this while they are working? Does this carry over from one employer to another? One lady I know worked since she was 19 & quit at 36, but I never heard her make any mention of this. Is the payment to the fund voluntary or required?

[Heemak]

Amazing thing google...... Works best if you actually search for something though. Wishing power doesn't seem to produce results.

http://www.sso.go.th/english/index.php

[TerryLH]

Social Security provides a brochure in English that lists all of the benefits they offer.

Retirement after 180 months.

Lump sum available, but you can no longer take advantage of any of the other benefits, such as health coverage.

If you take a break, you can pay a smaller amount each month which keeps you alive. If you quit and don't pay, you still have 6 months in which you can use benefits, again, health coverage.

I think pretty much everyone is supposed to be in the system now. That probably does not include civil servants who have a different system.

[thaitanic]

I would like to hear of any 'falang' that has actually recieved any Thai social benefits.

I got free medicine once when I was treated at the hospital designated on my social security card.

Amazing thing google...... Works best if you actually search for something though. Wishing power doesn't seem to produce results.

http://www.sso.go.th/english/index.php

Can you explain this then please, Heemak? From the link you kindly provided:

" 1. Having made contributions to not less than 180 months whether or not a period of 180 days will be consecutive; "

It's double dutch to me.

[cmsally]

Thanks. Anyone got any info on the maxiumum "gap" in contributions before having to start from scratch?

I believe if you leave the company you have registered with , you have up to 6 months to get back into the system - either by working/registering with another company that are under the Social Insurance or you can make payments yourself, every month.

If you have been out of the system for 6 months you have to then find employment which will cover you under Social Insurance and stay employed there for at least a year. You need to be in the system for at least a year before you can start making your own payments.

[TerryLH]

After you stop paying, you can continue benefits for 6 months without paying any more. After that you start over, but only for collecting health benefits. After 3 months back in the system it's like you never left. I believe all payed months will get credited towards the 180 months you need for retirement.

The health benefits are actually quite good. No exclusions for pre-existing problems.

If you reach the right age, and meet the criteria, you can take the lump sum instead of a monthly amount. I think you get all of your money back, but then you are no longer eligible for health coverage.