Thailand's Social Security Office Opens Board Election Nominations - Directly Impacts Workers and Employers

The Social Security Office (SSO) has opened nominations for employer and insured person representatives for the 2025 Social Security Fund Board. The nomination period runs from July 1 to July 15, excluding holidays, and will be held at SSO offices nationwide. Many candidates have already registered, including Boon Arayaphol, a representative candidate for the insured and a leader of the "Demand Return, Not Begging" group, who advocates for suspending the CARE formula and using a separate calculation method to protect insured persons' contributions. Associate Professor S satsatram Thamabussadee of the "Progressive Social Security" team also aims to push for social security reforms, including reviewing budget usage and increasing benefits for insured persons. The board election is the second in Thai history, following the first held on December 24, 2023. With the first elected board's two-year term concluding, a new election is scheduled for September 27, 2025. Labor Minister Jullapan Amornvivat stated that the election will be transparent, with other agencies participating in its management. He urged insured persons under Sections 33, 39, and 40, as well as registered employers, to register to vote by July 15 via the SSO website (www.sso.go.th). According to the Social Security Act, the Social Security Fund Board comprises representatives from three sectors: government, employers, and insured persons. Seven employer representatives and seven insured person representatives, totaling 14 members, are directly elected. The remaining seven members are government representatives, making a total of 21 board members. The board plays a crucial role in proposing social security opinions and policies to the Minister of Labor, formulating regulations for fund income, expenditure, and custody, establishing rules for fund benefit generation (i.e., how the fund is invested), and reviewing the fund's balance sheets, financial reports, and annual performance reports. The fund managed by the board exceeds 2 trillion baht. Therefore, the election of the Social Security Fund Board is of great importance to both employers and employees. For insured persons, the board determines the direction of their future benefits and old-age pensions. For employers, who contribute monthly for their staff, the board influences matters directly impacting business costs, including the fund's direction and proposals regarding contribution rates. Crucially, the system is designed with an equal number of seats for employers and insured persons (seven each), giving both sides equal voting weight. The board election thus presents an opportunity for both insured persons and employers to elect representatives who will oversee and protect the fund they have consistently contributed to. Source: INN News