The Progressive Social Security Team (PSST) held a strong lead in the Social Security Board election after 27.33% of worker votes and 34.68% of employer votes were counted late last night.
Sustarum Thammaboosadee, a PSST candidate, thanked voters for their support and pledged to push forward key reforms to ensure transparency and efficiency in how the Social Security Fund is managed and invested.
The fund, currently estimated at 2.6 trillion to 2.9 trillion baht, has accumulated since its inception in September 1990. Managed by the Social Security Office (SSO) under the Ministry of Labour, it provides healthcare, unemployment relief, disability benefits, and pensions to insured workers.
The fund is financed through monthly salary deductions from employees, matching employer contributions, and government subsidies.
Sustarum noted, however, that suspected voting irregularities were reported at several polling stations in Samut Prakan and Ratchaburi provinces.
He emphasised that the team’s immediate priority upon taking office would be ensuring wiser and more efficient fund management by the SSO.
Addressing SSO expenditure, PSST employer-side candidate Sararin Ruangpanyawut proposed that administrative spending be capped at 3% of annual contributions rather than the current 10%. She also advocated for fairer retirement pensions through the implementation of the "Care" system.
