Employee Benefits in Thailand 2025
Description
Employee Benefits in Thailand 2025
Summary
The report provides in-depth industry analysis, information, and insights of the employee benefits in Thailand, including an overview of the state and compulsory benefits in Thailand, detailed information about the private benefits in Thailand, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Thailand.
Both employees and employers fund Thailand’s social security system. Old age, disability, survivors, sickness and maternity benefits, and family allowances are offered under voluntary cover for self-employed persons and individuals with at least 12 months of compulsory cover who then cease to be covered. Thai citizens working abroad and self-employed persons are not covered by unemployment or work injury benefits. The Labor Relations Act is responsible for the provision of severance pay, sick leave, paid vacation, statutory holidays, and terms of employment.
Workmen’s compensation insurance provides benefits in the event of an occupational injury, illness, or the death of an insured. The Thai pension system is divided into multiple pillars: the first pillar (or state pension) consists of the Social Security Fund (SSF) and the Old Civil Service Scheme to help individuals secure their basic needs. The second pillar consists of the Government Pension Fund (GPF) and the National Saving Fund (NSF). The third pillar is voluntary and privately financed personal provision, which provides benefits via the provident fund, the Retirement Mutual Fund (RMF), and the NSF. Private employee benefits are also gaining prominence in Thailand.
The current Thai retirement system has a good foundation for an adequate and sustainable retirement system in the medium and long term. However, the country is facing a rapidly aging population and a continuously changing labor market that calls for a review of the retirement system. A report published by the International Labour Organization, UN Joint Programme on Social Protection for All in Thailand, suggested that the government should refrain from introducing new pension schemes and lump sum withdrawals to help ensure the long-term sustainability of the retirement system.
Key Highlights
This report provides a detailed analysis of employee benefits in Thailand
Summary
The report provides in-depth industry analysis, information, and insights of the employee benefits in Thailand, including an overview of the state and compulsory benefits in Thailand, detailed information about the private benefits in Thailand, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Thailand.
Both employees and employers fund Thailand’s social security system. Old age, disability, survivors, sickness and maternity benefits, and family allowances are offered under voluntary cover for self-employed persons and individuals with at least 12 months of compulsory cover who then cease to be covered. Thai citizens working abroad and self-employed persons are not covered by unemployment or work injury benefits. The Labor Relations Act is responsible for the provision of severance pay, sick leave, paid vacation, statutory holidays, and terms of employment.
Workmen’s compensation insurance provides benefits in the event of an occupational injury, illness, or the death of an insured. The Thai pension system is divided into multiple pillars: the first pillar (or state pension) consists of the Social Security Fund (SSF) and the Old Civil Service Scheme to help individuals secure their basic needs. The second pillar consists of the Government Pension Fund (GPF) and the National Saving Fund (NSF). The third pillar is voluntary and privately financed personal provision, which provides benefits via the provident fund, the Retirement Mutual Fund (RMF), and the NSF. Private employee benefits are also gaining prominence in Thailand.
The current Thai retirement system has a good foundation for an adequate and sustainable retirement system in the medium and long term. However, the country is facing a rapidly aging population and a continuously changing labor market that calls for a review of the retirement system. A report published by the International Labour Organization, UN Joint Programme on Social Protection for All in Thailand, suggested that the government should refrain from introducing new pension schemes and lump sum withdrawals to help ensure the long-term sustainability of the retirement system.
Key Highlights
- The Ministry of Labour and the SSO are responsible for the functioning of the overall social security system in Thailand.
- A person’s national insurance contribution is determined based on their income.
- An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to a credited contribution.
- In Thailand, voluntary retirement benefits are provided through a provident fund, which is a DC scheme. There are two forms of provident funds: single funds and mutual funds/pooled funds.
This report provides a detailed analysis of employee benefits in Thailand
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, Death in service, Long-term disability benefits, Short-term sickness benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, Unemployment benefits, Family benefits, leaves and holidays and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Thailand
- Make strategic decisions using in-depth information related to employee benefits in the country
- Assess employee benefits of the market, including state and compulsory benefits and private benefits
- Gain insights into the key employee benefit schemes offered by private employers in the country
- Gain insights into key organizations governing employee benefits market, and their impact on companies
Table of Contents
46 Pages
- 1 Executive Summary
- 2 Introduction
- 2.1 What is this report about?
- 2.2 Definitions
- 3 Country Statistics
- 4 Overview of Employee Benefits in Thailand
- 5 Regulations
- 6 State and Compulsory Benefits
- 6.1 Retirement benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.2 Death in service
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.3 Long-term disability benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.4 Short-term sickness benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.5 Medical benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.6 Workers’ compensation insurance
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.7 Maternity and paternity benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.8 Other benefits
- Unemployment benefits
- Family benefits
- Leave and holiday
- 7 Private Benefits
- 7.1 Retirement benefits
- 7.2 Death benefits
- 7.3 Medical benefits
- 7.4 Disability benefits
- 7.5 Accidental death and dismemberment benefits
- 7.6 Other benefits
- 8 About GlobalData
- 9 Contact Us
- List of Tables
- Table 1: Insurance industry definitions
- Table 2: Thailand – Country statistics, 2024
- Table 3: Thailand – Unemployment benefit: Severance pay
- Table 4: Thailand – Fixed national and public holidays, 2025
- Table 5: Thailand – Long-term service benefit
Search Inside Report
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
