ID :
179876
Wed, 05/04/2011 - 11:36
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http://m.oananews.org//node/179876
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Some 440,000 informal workers apply for insurance
BANGKOK, May 4 (TNA) - Informal workers in Thailand continue to join the Social Security Fund with total numbers having reached 440,000 and expected to exceed 1 million at the end of the year.
An applicant said the benefits under the social security fund, particularly the old-age pension, makes it worthwhile for him to become insured. He noted that the pension will provide him with some income when he is too old to work so he will not become a burden for his family.
Social Security Office Secretary-General Pan Warnnapinij said some 440,000 informal workers have already applied for insurance under Section 40 of the Social Security Act. Around 80 percent of them choose to pay a higher rate of contribution to receive coverage of old-age pension. Under the option, they will have to contribute 100 baht to the Fund and state will help them by contributing an additional 50 baht.
He said by the end of the month, the Social Security Office will sign an MOU with the Bank of Agriculture and Agricultural Co-Operatives (BAAC). The MOU will allow farmers who are BAAC members, to pay their contribution through their BAAC account. He believes the move will attract more BAAC members to join the Social Security Fund. (TNA)
An applicant said the benefits under the social security fund, particularly the old-age pension, makes it worthwhile for him to become insured. He noted that the pension will provide him with some income when he is too old to work so he will not become a burden for his family.
Social Security Office Secretary-General Pan Warnnapinij said some 440,000 informal workers have already applied for insurance under Section 40 of the Social Security Act. Around 80 percent of them choose to pay a higher rate of contribution to receive coverage of old-age pension. Under the option, they will have to contribute 100 baht to the Fund and state will help them by contributing an additional 50 baht.
He said by the end of the month, the Social Security Office will sign an MOU with the Bank of Agriculture and Agricultural Co-Operatives (BAAC). The MOU will allow farmers who are BAAC members, to pay their contribution through their BAAC account. He believes the move will attract more BAAC members to join the Social Security Fund. (TNA)
