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📋 Policy Paper · Thailand · 2026

The B60M Model
Thai Social Security Pension Reform

A structural reform proposal — the "2 Adjust, 1 Abolish" framework — using the Best 60 Months formula to achieve a minimum pension of 10,625 THB/month for all contributors.

10,625
Target minimum pension (THB/month)
+8,500
Monthly gain vs. current system (THB)
30 yr
Assumption: full contribution period

01 — Executive Summary

The Problem: Thailand's Pension Cliff

⚠️ Current System Failure: Final Average Earnings (FAE)

Thailand's social security currently calculates pensions using the FAE method — averaging the last 60 months of contributions. This is precisely the period when income typically declines, especially for Section 39 contributors whose base drops to 4,800 THB. The result: a lifetime contributor receives a pension of just 2,040 THB/month.

The Best 60 Months Model (B60M) proposes replacing the last-60-months average with the 60 months of highest contribution base throughout the contributor's entire working life — guaranteeing the pension reflects peak earning years, not the declining final stretch.

02 — Structural Proposal

"2 Adjust, 1 Abolish" Framework

✅ ADJUST 1

Voluntary Contribution Ceiling Expansion

Current: Mandatory ceiling at 15,000 THB base (750 THB contribution)

Proposed: Keep current base, but allow voluntary contributions at 20,000 and 25,000 THB bases (1,000–1,250 THB) to build a higher pension foundation.

✅ ADJUST 2

Formula Change: FAE → Best 60 Months (B60M)

Replace "last 60 months" average (typically the declining income period) with "best 60 months of contribution base" across the entire working history. This guarantees the pension reflects the contributor's most productive years.

❌ ABOLISH 1

Amend / Remove Section 39(2) Penalty Mechanism

Eliminate the mechanism that forces the 4,800 THB Section 39 base to be averaged with Section 33 contributions — causing a lifetime contributor's pension to collapse simply because they switched to Section 39 to maintain healthcare benefits. This "Section 39 Trap" is structurally unfair and must be removed.

03 — Statistical Simulation

Simulation: Three Scenarios Compared

Assumption: Full 30-year contribution period · Pension rate: 42.5%

Calculation Model Average Contribution Base Monthly Pension 20-Year Total
Current System — Sec. 39 Trap 4,800 THB 2,040 THB 489,600 THB
Current System — 15k Ceiling 15,000 THB 6,375 THB 1,530,000 THB
B60M Model — 25k Ceiling 25,000 THB 10,625 THB ✅ 2,550,000 THB
+8,500
THB/month gain vs. Sec. 39 trap scenario
10,625
THB/month target pension under B60M
5.2×
Better 20-year outcome vs. Sec. 39 scenario

04 — Impact Analysis

Effects on Fund & Society

💰
Fund Liquidity
Voluntary ceiling expansion increases immediate cash inflow to the fund — extending fund solvency without requiring tax increases.
🛡️
Social Safety Net
A 10,625 THB pension lifts elderly contributors above the poverty line, reducing government spending on welfare supplements.
🤝
Equity & Trust
Fair returns encourage more workers to stay in the formal social security system — strengthening the fund long-term.

📄 Full Policy Document

The B60M Model — Policy Paper 2026 · Boon Arayapon · boonarayapon.com
Complete simulation data, structural analysis, and legislative framework.

⬇️ Download PDF 📖 Cite This Work 🇹🇭 Thai Version

Author

Boon Arayapon
Boon Arayapon (บูรณ์ อารยพล) — DVM, LLB
Mor Boon Social Security · Thai Social Security Reform Advocate · Founder, ขอคืนไม่ได้ขอทาน (2020)
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