Bangkok:The government is advancing new measures to unlock social security retirement funds, presenting options such as lump sum payments, withdrawals during emergencies, and using funds as loan collateral. These changes aim to provide insured individuals with greater flexibility in managing their retirement savings and addressing immediate financial needs.
According to Thai News Agency, the initiative, known as the "3 Requests" measure—comprising "Request to Choose, Request to Return, Request to Borrow"—has been approved by the Cabinet as part of the draft Social Security Act (Amendment No. ...) B.E. .... on November 3, 2026. The Ministry of Labour proposed the measure to address the demands of insured individuals seeking more options and flexibility in handling their retirement savings, particularly during times of financial hardship.
Lieutenant Colonel Patthadarasmi Thongslueykorn, Deputy Spokesperson for the Prime Minister's Office, explained the measure's core principle retirement savings should not solely guarantee future security but also provide flexibility during crises. The draft law outlines three key guidelines allowing insured persons to choose between a monthly pension or a lump sum payment, enabling partial withdrawals during disasters, and using pension benefits as collateral for loans.
The measure stipulates that insured persons who have contributed for at least 180 months can choose their preferred payment method. Meanwhile, those with at least 60 months of contributions can request early withdrawals or use their pension contributions as loan collateral, subject to certain conditions. However, the combined use of these options must not exceed 30% of the pension contributions or twice the maximum wage base under Section 33.
The draft bill is under preparation for consideration by the House of Representatives. The government and the Ministry of Labour are committed to progressing the legal amendments while ensuring the stability of the social security fund and the long-term benefits for insured individuals. The government emphasizes the importance of transforming social security contributions into tangible rights, addressing both current hardships and future retirement needs.
The deputy government spokesperson highlighted that the "3 Requests" measure is still in the amendment process, and insured persons cannot yet exercise these new rights until the relevant laws and regulations are enacted. The government is dedicated to creating a flexible, fair social security system that meets the needs of workers at all life stages.