Result achieved
Outcome summary
The Actuarial Bureau (SAB) of the Social Security Office of Thailand has been equipped to provide the organization with actuarial services. Relevant staff from SSO increased their knowledge and technical capacity to use the actuarial valuation model ...Outcome achieved
The Actuarial Bureau (SAB) of the Social Security Office of Thailand has been equipped to provide the organization with actuarial services. Relevant staff from SSO increased their knowledge and technical capacity to use the actuarial valuation model and carry out actuarial valuations for the Social Security Fund (SSF) and for the Workers Compensation Fund (WCF). The Actuarial valuation provides evidence for Thailand’s reforms towards more sustainable, inclusive and gender-responsive social protection systems. The actuarial valuation of the SSF was finalized, addressing gender equality.ILO's contribution to the outcome
The ILO, with support from the Government of Thailand, designed and calibrated the actuarial valuation model. The ILO organised an actuarial training for SSO staff as well as a regional actuarial training in November 2023. The training ensured that the SSO staff were equipped with the necessary capacity to use the model for future actuarial valuations. Previous actuarial training was delivered in 2021 and 2022, in relation to the actuarial valuation of the WCF. The ILO produced a number of deliverables including the finalization of the actuarial valuation of the SSF, the actuarial valuation of the WCF, policy briefs on improving adequacy of benefits and technical support in respect of investment governance and management. The ILO in collaboration with the UN also produced a report “Review of the Pensions System in Thailand” as well as a Social Protection Diagnostic report. In addition, the ILO produced an in depth analysis of the labour market that was used to identify the four priority sectors to focus on to improve coverage: domestic workers, transport workers (with special reference to platform workers); micro and small enterprises with a focus on specific industries (e.g., retail, food, accommodation) and construction workers. This analysis was presented during a workshop on extension of coverage organized in November 2022. An initial report on one of the priority sectors (domestic workers) was completed. Other supporting reports for example looking at the informal sector were also produced.SDG
Goals
- End poverty in all its forms everywhere
- Achieve gender equality and empower all women and girls
- Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all