4% Ss Contributions - Matched By The School

[onlycw]

Hi All

are Social Security contributions the law? Never had them in years (unlike group insurance and tax deductions). Now they are in my contract...

A colleague is bitterly opposed and wants to opt out.

Then there is a "600 Baht" limit or clause capping those SS contributions. Hope that someone

knows how this all works.

Thanks for your time!

[aidenai]

http://www.sso.go.th/wpr/eng/background.html

[TerryLH]

It used to be 5% deduction, up to a maximum of 750 baht per month, matched by the school/employer.

"A colleague is bitterly opposed and wants to opt out."

Over many years, I've found that most people with that kind of attitude don't really understand the SS system and what benefits you get from it.

It's actually a very good deal.

For those in a job eligible for it, it's supposed to be required.

For the maximum of 750 baht a month you get health care, retirement, unemployment and other benefits.

The health insurance plan alone is worth it.

Ask your colleague what they actually know about the system. It wouldn't surprise me to hear them say something like; "It's Thai, so can't be any good."

Hope that helps a little.

Terry

[Eddy B]

It used to be 5% deduction, up to a maximum of 750 baht per month, matched by the school/employer.

"A colleague is bitterly opposed and wants to opt out."

Over many years, I've found that most people with that kind of attitude don't really understand the SS system and what benefits you get from it.

It's actually a very good deal.

For those in a job eligible for it, it's supposed to be required.

For the maximum of 750 baht a month you get health care, retirement, unemployment and other benefits.

The health insurance plan alone is worth it.

Ask your colleague what they actually know about the system. It wouldn't surprise me to hear them say something like; "It's Thai, so can't be any good."

Hope that helps a little.

Terry

It is good if you are to continue this over a long term but as most people on here will know we are giving little information about the reasons why it is taken from your salery or how to benefit from this policy. I myself was in a similar situation and already had a private health plan, I had to cancel it, paying into both each month on my crap salery was not going to be feasable. After I had finished my 2nd semester at the school they did not contact me at all about re-signing a contract. I was in limbo so I had to do a visa run. I found out later I could have continued to pay by myself into this policy without the school, but no one told me so it was terminated. Not a lot but I have lost all of what I paid into this policy for a year, plus I lost the one I had to cancel for financial reasons. For accidents it is a very low level scheme, for retirement for farangs it is useless. Better to get married and get a yellow house book.

[mike123ca]

I was paying 750 a month, then the school reduced it 400 baht. I also have a daughter that is under 6 years old, so I receive 450 baht a month for her.

[TerryLH]

"For accidents it is a very low level scheme,..."

Not sure why you say that. It covers almost everything.

"Better to get married and get a yellow house book."

Why? A yellow house book does not make you eligible for free medical coverage. That is something that a few claim to have been given, but they are not legally eligible for it. It might come back to bight them in the rear if they have to get treatment at a different hospital, one that actually knows the rules.

"I was paying 750 a month, then the school reduced it 400 baht."

The government ran several promotions over the last couple of years, trying to help out the folks in a bad economy.

As was mentioned in a post above, you are able to continue coverage by paying on your own after you lose eligibility through work.

The fee is 432 baht per month for that. Full medical coverage, but you would not be contributing to retirement or unemplyment.

Terry

[sirchai]

It used to be 5% deduction, up to a maximum of 750 baht per month, matched by the school/employer.

"A colleague is bitterly opposed and wants to opt out."

Over many years, I've found that most people with that kind of attitude don't really understand the SS system and what benefits you get from it.

It's actually a very good deal.

For those in a job eligible for it, it's supposed to be required.

For the maximum of 750 baht a month you get health care, retirement, unemployment and other benefits.

The health insurance plan alone is worth it.

Ask your colleague what they actually know about the system. It wouldn't surprise me to hear them say something like; "It's Thai, so can't be any good."

Hope that helps a little.

Terry

Had a mechanical malfunction with my brakes ,when my bike ( 270 kg) fell on my right leg and broke it five times.Glad that I had SS, as the ordinary motorbike insurance just covers 12,000 baht of any hospitals bills.

Even having the bad luck to get the wrong doctor who made the operation, i still had to pay additional 70,000 baht, which my Ss had covered.It's actually 600 baht now and you can continue paying in ,even when your employment ends.

How can anybody be opposed to such a good thing as the social insurance?-

[onlycw]

Thanks for the good replies! Great link, Adenai!

Personally, I agree with those who think it's a fair deal. And the colleague who hated the SS contributions was asked to leave...