Transcript of the above video: 

As the title of this video suggests, we are discussing the Thai Social Security Fund. What are we talking about here? Well Thailand does have a Social Security Fund. It provides certain things like medical benefits to folks, even certain retirement benefits, and death benefits but the issue with it is, this is actually one of these things that I wish I'd been around before this was sort of promulgated because this is one of these things Thailand in my mind adopted from the West and it may not have been the best idea all things considered. That being said, let me get into this. I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: Thai Government seeks to prevent Social Security Fund collapse. That's the first question is, it is my understanding for the first decade that this existed, the only thing that was happening was people were paying into it. Other than maybe death benefits, nobody was really getting paid out of it. So how is it on the verge of collapse, if all it was doing was taking money? It's one of those things where especially in the American context; I've viewed memes here recently and things that will say like only the Government could have the ability to take everybody's money and still go bankrupt. This is kind of one of those sort of situations. That said, quoting directly: "Labour Minister Phiphat Ratchakitprakarn on Sunday pledged to explore measures to prevent a potential collapse of the Social Security Fund a decade from now as a result of insufficient funding. According to the Thailand Development Research Institute and the International Labour Organization (ILO), the SSF currently has 2.6 trillion Baht and is expected to grow to at least 4 trillion Baht by 2034. However, the Fund's growth does not mean it is sustainable because Thailand is facing a shrinking workforce of people who can contribute to the Fund and an aging population problem, he said."

Well and also I would love to know what some of the stuff was spent on, during the time period when all that was happening was money going in and now that it's possible for money to come out, that's sort of like everybody says regarding US Social Security which is going to have its own demographic problems coming up in the relatively near future - "well you paid in, that's your money. Yeah I probably would have been better off just keeping my own money and doing with it what I wanted to because now you say that you're on the verge of collapse!" Meanwhile, I have to ask the question, they are talking about spending a half a trillion Baht to create this Digital Wallet Token Scheme, well if you are really worried about the welfare of people and things, isn't this exactly where you should want to put those funds? I mean just one man's opinion, but I mean that seems like a reasonable question under the circumstances. 

That said for foreigners here in Thailand, yeah, especially if you own your own business you're going to be well aware of having to pay Social Security contributions associated with your Thai employees which there are certain quotas of Thai employees that are required in order to get a Work Permit here in Thailand. So for those that kind of feel overwhelmed about Work Permits, Business Visas and then things associated with for example Social Security contributions, probably not a terrible idea to contact a legal professional, gain some insight and guidance into how best to proceed.