BANGKOK: The government is encouraging the self-employed to join the National Provident Fund (NSF) to improve their financial security, in addition to other benefits from accident insurance to a pension program.
The government is also planning to roll out additional job security packages for freelance and informal workers, according to state news agency NNT.
Deputy Government Spokesperson Rashada Dhanadirk has asked people between the ages of 15 and 16 to join the National Provident Fund program, which is open to people who are not full-time employees of a registered company.
The program covers students, merchants, farmers, taxi drivers, the self-employed and social security contributors under Section 40 of the Social Security Act.
Ms. Rashada said each NSF participant is required to contribute a minimum of 50 B or a maximum of 13,200 B, and the government will contribute up to B1,200 annually.
The amount contributed is tax-deductible, while participants will receive a wide range of benefits from health and accident insurance, a retirement plan, as well as a Social Security pension.
With a mission to improve the livelihoods of some 19.6 million informal workers, Ms. Rashada said the cabinet has approved in principle the informal workers welfare and protection bill.
Once passed, this law will guarantee access to basic occupational rights, job safety, social security, and the right to form unions between informal workers and the self-employed.