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uncola

Thai social security and retirement

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I have lived in chiangmai almost 36 years.   I formed a packing and shipping company and worked and paid into social security for about 22 years.  I retired 2 years ago.   I paid in roughly 220,000 baht over that time period.     The social security office said they could give all of the money i had paid in back to me.  But if they did that i could not continue my government insurance for which i pay 432 baht a month.    If i leave the 220,000 baht with them i can continue to have my thai government medical insurance.    If i take my cash i cannot get thai government medical insurance any long.   So how could i have the medical insurance and get my money back?   I said if i want to keep my medical insurance i could get my money back when I die or shortly after? That makes no sense to me.

 

Last year i was told by several forum members that they got their money back and continued to pay and receive thai government medical insurance.    I wonder is this because they were an employee?   I was the owner and possibly the rules changed also because i began around 1995-96.   If i remember that is about when social security began here.   In fact I remember wanting to not buy the social security medical insurance and i was told i had no choice.    

 

Thai staff have retired, got all their money back that they paid in over the years and they continued their social security medical insurance program. 

 

I have been to discuss this with the social security office 2 or 3 times and they just explain it to me like i should know.   

 

Has anyone i  chiangmai experienced the same problem as me?  A different outcome?

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I was told that directors of companies whether thai or non thai, are not eligible for social security healthcare.

 

i paid social fund for 5 thais working in my company but i wasn't allowed to pay in myself.

 

you might have been grandfathered into the system, the lump sum payment is a payoff. It makes sense that if you opt out and take the payoff you no longer qualify for social healthcare.

 

 

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My son is now the director and he cannot get the government insurance.  In my case, about 25 years, i was required to get it.   Things change. 

 

But it seems unfair that thais can retire, get what they paid in and the continue to make monthly payments, while i am not allowed to.   I just have not gotten an explanation as to why that is the case.

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My wife is Thai. She is director/shareholder of our company. She has paid THB 432 every month for years. The SSO has always refused to accept her in the SS system like any employee. She went to the SSO a few months ago (Bangkok) and asked what will happen when she would like to retire. They told her that she has 2 choices:

- Keep on paying THB 432 forever and not getting any pension money back. 

- Requesting her pension, stop paying THB 432 and getting insured under the poor "30 Baht scheme" like any Thai citizen.

 

Considering the amount she would get and the poor quality of service with the "30 Baht scheme" she has decided to keep on paying and not getting a pension. That's what the woman at the SSO office advised if you don't really need the pension money for living.

 

For you, it would be keep paying until you die and get government medical insurance forever or getting a pension and not being insured anymore. I know it's unfair.

 

They also told her they would not accept her to stop being a director/shareholder and becoming a regular employee just a few years before the retirement age. 

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It has indeed been the rule that if you take the lump sum payout  you cannot continue the health cover. Most Thais take it since they will then come under the "30 baht" scheme and still have cover. For expats it is a totally different matter and well worth taking the health cover instead (as a point of reference, decent private cover for inpatient only will cost you about 90k/year at 65 and rise to over 100k as you pass 70).

 

There has been discussion of changing this rule so that people can both get retirement benefits and continue health cover  and a draft amendment to the=at effect is underway but nto yet approved (Google Bangkok Post article 11 August). So I suggest you sit tight, continue to pay in for insurance and wait to see.

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Thank you all for your comments.    I am 72.  No existing medical conditions but i did look into getting expat medical insurance.    The annual cost is 100k.  Crazy.   So without a doubt i will continue with my thai goverment medical insurance.   I wrote the 200k plus due to me from thai social security into my will so it doesn't get lost in the shuffle.  My son will have to follow up.   

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