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Thai Social Security Pension Fund: An Analysis of Sustainability and Inter-generational Fairness (in Thai)

Author

Listed:
  • Euamporn Phijaisanit

    (Faculty of Economics, Thammasat University, Bangkok, Thailand)

Abstract

This paper portrays the non-sustainability of the Thai Social Security Pension Fund. Actuarial mathematics and mixed methods are used in the analysis. Inequity across generations arises from the risks encountered by the later generations of not being fully obtained their old-age benefits. The results indicate that in 2030 there will be a net expenditure of cumulative reserves; and hence, net liabilities will start to accumulate from that year. All of the fund reserves will be depleted in 2039. In the short run, the research suggests reconsidering the rates of contributions and benefits. Meanwhile the contributors should be informed about the rates that they would have to pay and would receive throughtout their work-age periods. In the long run, the research suggests reconsidering some other possible options for restructuring the Fund to be more in line with the demographic structure of the Thai labour force and Thai society.

Suggested Citation

  • Euamporn Phijaisanit, 2011. "Thai Social Security Pension Fund: An Analysis of Sustainability and Inter-generational Fairness (in Thai)," Applied Economics Journal, Kasetsart University, Faculty of Economics, Center for Applied Economic Research, vol. 18(2), pages 32-44, December.
    • Handle: RePEc:aej:apecjn:v:18:y:2011:i:2:p:32-44
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    File URL: http://www.journal.eco.ku.ac.th/upload/document/eng/20120701033901.pdf
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    Cited by:

    1. Phijaisanit, Euamporn, 2015. "How can promoting desirable elderly employment opportunities alleviate the shortfalls of Thailand’s ageing society?," MPRA Paper 89824, University Library of Munich, Germany, revised 2016.

    More about this item

    Keywords

    social security system; welfare policy; intergenerational fairness;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • J78 - Labor and Demographic Economics - - Labor Discrimination - - - Public Policy (including comparable worth)

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