Described: 16 Mar 2024 at 16: 46
A statement from the Committee on Social Welfare about a democratic state pension system lately received House acceptance, and an execution plan is anticipated for the fiscal year 2030.
This updated version of the annuity program is reportedly better than the one proposed during the Gen Prayut Chan- o cha government in 2021.
Instead of the present staircase rate, which starts at 600 ringgit per month and increases by 100 baht every ten years, the plan uses the liberal rate, which promises to spend every older person 3, 000 baht per month.
According to the study, a better income system will result in a better economy, according to research conducted by Chulalongkorn University’s Faculty of Economics on the viability of creating a National Basic Pension Fund.
According to the study, the government should view the transaction as a pension, no a donation, and as a fundamental right that all citizens may get. The older should have enough money to live off of each day.
The study suggested further investigation of performance and insurance based on the principle of public economics in light of the budget problem.
According to the study, the government should concentrate on avoiding system redundancies, such as paying legal service seniors regular pensions.
The state needs to look for sources of funding because a lot of money is required for the pension system, according to the research.
If the tax system get managed properly, up to 40 billion baht yearly can be allocated to pay for retirement.
Some work cost collections were suggested to account the income, such as a sin taxes, fuel tax, motor- vehicle tax, visa fee, and media licence fee.
Over the next 20 years, income investing will quickly increase, with the majority coming from the state.
By reforming the sector to be fairer and establishing a security system to improve everyone’s quality of life, it should be an opportunity to address fundamental issues.
The authorities should set its budgetary interests by lowering unnecessary spending and removing special privileges and tax deductions for businessmen and large investment corporations, including the Board of Investment ( BOI), as well as a capital gains tax.
A less biased strategy for revenue taxes collection, a value- added tax increase, and a thus- called tax revolution were also included in the study.
This is a good prospect for the nation to strengthen its infrastructure while creating welfare systems that promote improved life quality because the government must source for more pension funds, according to the study.