The Secretary-General of the Social Security Office revealed efforts to accelerate the CARE formula, a new method for calculating old-age pensions, expecting it to be announced around mid-2026.
On 13 Jan, Ms. Kanchana Phulkaew, Secretary-General of the Social Security Office (SSO), stated there has been progress in revising the old-age pension calculation method. Currently, the office is pushing forward the CARE formula, which focuses on fairness for insured persons and balances benefits received with contributions paid throughout their insured period. This is alongside strengthening the long-term stability and sustainability of the Social Security Fund. After gathering feedback from stakeholders and receiving principle approval from the Social Security Committee on the CARE formula, the next step is to draft and propose legal amendments following the prescribed legal procedures. However, these legal changes must pass several stages: review by the Ministry of Labour's legal draft committee, Cabinet approval, and review by the Office of the Council of State, all essential legal steps to be carefully undertaken.
The CARE formula is still in the drafting and legislative proposal stage, requiring multiple legal approvals. It is expected to be announced around mid-2026. Clear communication of details, criteria, and implementation guidelines at each step will be provided to ensure insured persons receive accurate information and can prepare appropriately.