Thai government introduces financial security packages for freelancers

BANGKOK (NNT) – The government is encouraging the self-employed to join the national savings fund to improve their financial security, along with other benefits ranging from accident insurance to a retirement scheme.

The government also plans to roll out additional job security packages for self-employed and informal workers.

Deputy government spokeswoman Rachada Dhanadirek called on people between the ages of 15 and 16 to join the National Savings Bank (NSF) scheme, which is open to people who are not employed full-time in a registered business.

This program covers students, traders, farmers, taxi drivers, self-employed and social security contributors under Article 40 of the Social Security Law.

Each NSF participant is required to contribute a minimum of 50 baht or a maximum of 13,200 baht, and the government will contribute up to 1,200 baht per year.

The amount contributed is tax deductible, while contributors will enjoy a wide range of sickness and accident insurance benefits, and a retirement plan, in addition to the social security pension.

With a mission to improve the livelihoods of some 19.6 million informal workers, Ms. Rachada said the Cabinet had approved in principle the Informal Workers Welfare and Protection Bill. Once enacted, this bill will ensure access to basic labor rights, job security, social security and the right to organize among informal and self-employed workers.

Information and source

Reporter: Tanakorn Sangiam

Rewriter: Thammarat Thadaphrom

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