Bangkok: Social security in Thailand is grappling with severe challenges, including the misuse of 850 million baht and a looming financial collapse. Mr. Sahasawat Khumkhong, a candidate for Member of Parliament in Chonburi Constituency 7 from the People's Party, addressed these issues during the "Share the News" program on MCOT NEWS FM 100.5. He pointed out issues with transparency and a structural crisis within the fund, particularly focusing on the questionable allocation of 850 million baht for an IT system that remains unusable, adversely affecting insured individuals' unemployment and retirement benefits.

According to Thai News Agency, Mr. Khumkhong also expressed concerns over the 7 billion baht investment in the Sky Nine building, which he deemed significantly overvalued. He warned that without systemic reform, the social security fund could deplete its resources within the next 25 to 30 years, jeopardizing future pensions for new generations of insured individuals. A significant issue is the proposed election regulation changes for the Social Security Board, shifting from a system where one person votes for seven candidates to one where a person votes for only one. This change, coupled with the new discretionary power granted to civil servants to disqualify candidates based on behavior or morality, could impede scrutiny of the organization's internal management.

The proposed reforms call for legislative action through parliamentary means to instigate systemic changes in power structures and investment management oversight. Political parties are urged to reach a consensus during the election period to drive these reforms. Insured individuals are encouraged to participate in public hearings, which conclude on February 14th, to oppose regulations that undermine their rights and to seek clarity from the Minister of Labour on these matters.