‘Pheu Thai’ pushes overhaul of Social Security, Calls for elected executives - board

Today (Jan 29, 2026) at Pheu Thai Headquarters held a press conference about the resolution of issues related to the Social Security Fund. Led by   Mr. Paophum Rojanasakul, Deputy Leader of the Pheu Thai Party, Mr. Pongkavin Chuenrungruangkit, former Minister of Labo and Dr. Phrommin Lertsuriydet, former Deputy Secretary-General to the Prime Minister. Mr. Pongkawin responded that as a former Minister of Labor's worries about the Social Security Fund, which has amassed 2.8 trillion baht but only produces a 2.8% return. He claimed that because these funds are not keeping up with rising living expenses, this return is insufficient, much like the Government Pension Fund (GPF), and it portends a risky loss of economic chances for the general population. Also ineffective management is the primary issue.

As such, if the Social Security Fund were more profitable, it would earn a further 100 billion baht in annual returns, allowing for a larger supply of welfare benefits to all citizens. Mr. Pongkawin emphasized that we cannot allow these funds to be controlled by persons who lack understanding, inadequate expertise and abilities in service delivery and a lack of transparency. The Pheu Thai Party intends to continue its efforts to rebuild the Social Security Fund as a source of hope for all covered Thai people.

“Reforming social security, Pheu Thai can do it.

The seven positions of the Pheu Thai Party are as follows:

1. The Ministry of Labor's Permanent Secretary, a former Social Security Secretary-General engaged in the SKYY9 building corruption case, has been ordered to be transferred for an impartial and open inquiry.

2. To guarantee efficient policy implementation and the preservation of their benefits, insured individuals must have a clear representation on the board and be able to nominate seven executives in the original proportion.

3. Instead of being selected from the government sector, the chairman of the board must be chosen from within the board.

4. The fund must be managed by professionals to avoid interference by political appointees aiming to convert the Social Security Fund into a wealth fund for a select group.

5. All fund activities, including budgets and returns, must be fully transparent. The Pheu Thai Party supports an independent supervision body to investigate and punish executives, preserving the interests of insured individuals.

6. Adjust management processes and clearly define KPIs to ensure auditability and prevent fund misuse.

7. Ensure that insured individuals have the same access to medical treatment as those covered by other funds.

Finally, Dr. Phrommin reiterated that social security reform is a principle that the Pheu Thai Party has consistently advocated for and they recognize that it is critical for the safety of all insured individuals' lives, as well as a critical component of driving the economy to restore justice and provide security for them.

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