Thailand announces 3 months extension of social security contributions reduction

Referring to the announcement of the Social Security Office in relation to the reduction of mandatory social security contributions effective from 1 June 2021 – 31 August 2021, on 8 September 2021, the Social Security Office has extended the reduction of mandatory social security contributions for another 3 months from 1 September – 30 November 2021. 

The mandatory social security contribution rate remains the same, from 5% to 2.5% with a maximum of THB375 per month. Nevertheless, the voluntary contribution rate, for former employees continuing to contribute to the Social Security Fund after leaving their jobs, has reduced from THB432 to THB235 per month.