Quick summary! The Cabinet has approved "CARE Formula" New Social Security Pension, fairer, how much can be delivered only! 💰✨

📌 4 key points of the "CARE formula."

1️⃣. Charge a pension from "average income, whole working life."

Original: Based on the average base salary of the last 60 months before retirement (up to 15,000 baht)

CARE: Average the "every month that has been remitted from work to retirement" wage, which adjusts the value of the money in the past to the present value according to inflation before calculating it. End of late income problems have been reduced and the pension has been reduced.

2️⃣ Good news of the M.39 people (who used to be in M.33).

A group of people who used to work at a company (M.33) and then resigned to send social security themselves (M.39). The original formula will be adjusted to 4,800 baht, resulting in a much smaller pension.

But this new formula will be based on the proportion that was actually sent, focusing on the main "send a lot, send a little proportion," making the M39 group that has sent M33 for a long time to receive a fair increase in pension.

3️⃣ Count the months. Don't get rounded up.

The original formula would have increased the pension rate annually (1.5% per year). If sent in excess of the year, the remnants of the month would be cut off.

The new formula adds a monthly figure of 0.125% a month, which means that it is oversent. A few months is calculated as all the money.

4️⃣ The old ones don't affect. There's a five-year transition.

Who already received the same pension, not reduced.

For those who are retiring within 5 years, there is a Compensation System (first year 100% full damage compensation and 20% annual reduction until the full new system in year 6) to prevent insurers from losing their benefits.

⏳. When is it in effect?

This draft will apply after 180 days in the Gazette.

# Social Security # CARE formula # Old age pension # Insurer # Plan retirement