Fetco pushes for overhaul of SSF

The Federation of Thai Capital Market Organizations (Fetco) has urged a comprehensive reform of the Social Security Fund (SSF), warning that without urgent structural and investment changes, the system could face severe sustainability risks as the country transitions to a fully aged society.

- NUNTAWUN POLKUAMDEE

Fetco chairman Kobsak Pootrakool said although the SSF holds assets worth trillions of baht, Thailand's rapidly ageing demographics pose a serious long-term challenge.

With fewer children being born and a rising number of retirees, the contribution base is shrinking while benefit obligations continue to expand, putting mounting pressure on the fund's future viability, said Mr Kobsak.

In his view, younger workers who are expected to continue paying contributions for decades may find little left when they reach retirement age.

"If reforms are delayed, today's contributors risk facing inadequate benefits or even fund depletion by the time they retire," said Mr Kobsak.