Bangkok:The government is advancing measures to provide insured persons with three new options concerning their old-age pension funds: choose, return, or borrow. The initiative is designed to offer greater flexibility in managing retirement savings.
According to Thai News Agency, Lieutenant Colonel Patthadarasmi Thongslueykorn, Deputy Spokesperson for the Prime Minister's Office, announced that the government is progressing with the "3 Requests" measure. This initiative—comprising "Request to Choose, Request to Return, Request to Borrow"—is part of the recently approved draft Social Security Act amendment, proposed by the Ministry of Labour and passed by the Cabinet on November 3, 2026. The measure aims to provide insured persons with more options for managing their retirement savings and accessing funds in emergencies.
The core of this measure is to ensure retirement savings not only secure future financial stability but also provide flexibility during crises. The draft law includes three key guidelines. First, insured individuals with at least 180 months of contributions can choose between receiving their benefits as a monthly pension or a lump sum payment. Second, in crises, those with at least 60 months of contributions can request partial benefits before the normal retirement age. Third, contributions can be used as collateral for loans from approved financial institutions, enhancing access to funds.
However, the use of "refund" and "loan" options is capped at 30% of the total contributions and must not exceed twice the insured person's maximum wage base to ensure financial security in retirement. The draft bill is currently under preparation for consideration by the House of Representatives, with the government and Ministry of Labour committed to advancing these amendments while considering the social security fund's stability and the insured individuals' long-term benefits.
The deputy spokesperson emphasized the government's commitment to transforming insured persons' demands into tangible rights, highlighting the need for a flexible and fair social security system that meets workers' needs both during hardships and as they near retirement. The "3 Requests" measure is still undergoing legal amendments, and insured persons must await the enactment of relevant laws and regulations before exercising these new rights.