IDEAS home Printed from
   My bibliography  Save this article

Thai Social Security Pension Fund: An Analysis of Sustainability and Inter-generational Fairness (in Thai)


  • Euamporn Phijaisanit

    () (Faculty of Economics, Thammasat University, Bangkok, Thailand)


This paper portrays the non-sustainability of the Thai Social Security Pension Fund. Actuarial mathematics and mixed methods are used in the analysis. Inequity across generations arises from the risks encountered by the later generations of not being fully obtained their old-age benefits. The results indicate that in 2030 there will be a net expenditure of cumulative reserves; and hence, net liabilities will start to accumulate from that year. All of the fund reserves will be depleted in 2039. In the short run, the research suggests reconsidering the rates of contributions and benefits. Meanwhile the contributors should be informed about the rates that they would have to pay and would receive throughtout their work-age periods. In the long run, the research suggests reconsidering some other possible options for restructuring the Fund to be more in line with the demographic structure of the Thai labour force and Thai society.

Suggested Citation

  • Euamporn Phijaisanit, 2011. "Thai Social Security Pension Fund: An Analysis of Sustainability and Inter-generational Fairness (in Thai)," Applied Economics Journal, Kasetsart University, Faculty of Economics, Center for Applied Economic Research, vol. 18(2), pages 32-44, December.
  • Handle: RePEc:aej:apecjn:v:18:y:2011:i:2:p:32-44

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Andrew Worthington, 2001. "An Empirical Survey of Frontier Efficiency Measurement Techniques in Education," Education Economics, Taylor & Francis Journals, vol. 9(3), pages 245-268.
    2. David Mayston, "undated". "Educational Attainment and Resource Use: Mystery or Econometric Misspecification," Discussion Papers 96/17, Department of Economics, University of York.
    3. Deller, Steven C. & Rudnicki, Edward, 1993. "Production efficiency in elementary education: The case of Maine public schools," Economics of Education Review, Elsevier, vol. 12(1), pages 45-57, March.
    4. Felipe Barrera-Osorio & Tazeen Fasih & Harry Anthony Patrinos & Lucrecia Santibáñez, 2009. "Decentralized Decision-making in Schools : The Theory and Evidence on School-based Management," World Bank Publications, The World Bank, number 2632.
    5. Battese, G E & Coelli, T J, 1995. "A Model for Technical Inefficiency Effects in a Stochastic Frontier Production Function for Panel Data," Empirical Economics, Springer, vol. 20(2), pages 325-332.
    6. Meeusen, Wim & van den Broeck, Julien, 1977. "Efficiency Estimation from Cobb-Douglas Production Functions with Composed Error," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 18(2), pages 435-444, June.
    7. Aigner, Dennis & Lovell, C. A. Knox & Schmidt, Peter, 1977. "Formulation and estimation of stochastic frontier production function models," Journal of Econometrics, Elsevier, vol. 6(1), pages 21-37, July.
    8. Pevalin, David J., 2003. "Outcomes in childhood and adulthood by mother's age at birth: evidence from the 1970 British Cohort Study," ISER Working Paper Series 2003-31, Institute for Social and Economic Research.
    Full references (including those not matched with items on IDEAS)

    More about this item


    social security system; welfare policy; intergenerational fairness;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • J78 - Labor and Demographic Economics - - Labor Discrimination - - - Public Policy (including comparable worth)


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aej:apecjn:v:18:y:2011:i:2:p:32-44. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chatrat Hemmawat). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.