Documents produced under projects are material produced in the course of the project, or as outputs. This document dated April 2017 is provided for the ADB project 49163-001 in Thailand.
In this briefing note we will discuss the replacement rates that employees can achieve in case they complete a full career. Although in practice many people do not have a full career, the replacement rate in case of a full career is a good yardstick by which we can measure whether a pension system provides sufficient, but not excessive, pension levels. This document focuses on workers in the formal sector, who are not covered by the pension plans for Government employees. These workers are currently covered by the Social Security Fund (SSF) and in the future, are planned to be covered by the National Pension Fund (NPF).