PUBLISHED : 21 Feb 2026 at 07:09
Anusorn Tamajai (photo from his Facebook page)
Economist Anusorn Tamajai, the former chairman of a committee on pension reform, has called on the Ministry of Labour to urgently implement the “Care” pension formula without delaying the move until the new government takes office.
Immediate adoption of the Career-Average Revalued Earnings (Care) formula would ensure fairness for insured workers who have contributed consistently and would allow around 570,000 retirees to receive higher pensions, he said.
The Care formula replaces the existing method, which calculates pensions based on the average wages in the final 60 months before retirement.
The old approach is not considered beneficial to workers whose salaries decline towards the end of their careers despite long histories of making contributions.
The new system adjusts past earnings to current value using an index for wage adjustment.
Mr Anusorn said studies on the new measure were completed long ago, and public hearings finished months earlier, so implementation should begin early this year.
He said the Social Security Fund is an open-end fund supporting diverse groups, from new workers to retirees, the disabled and survivors, so it must remain fair and sustainable.
He acknowledged concerns about long-term fund sustainability amid Thailand’s ageing population, noting forecasts — including by the International Labour Organisation — that without reform, the old-age fund could face insolvency around 2054.
He said this can be avoided by improving investment strategies targeting average returns of around 5%.