A former member of a Social Security pension reform panel has urged Thailand’s Ministry of Labour to immediately adopt the new “CARE” pension calculation formula, without waiting for the formation of a new government.

Assoc. Prof. Dr. Anusorn Thammajai, former chair of a subcommittee tasked with reviewing the old-age pension formula under Thailand’s Social Security system, said the regulation could be enacted by the current administration. He warned that linking pension reform to political uncertainty would unfairly delay benefits for retirees.

According to Anusorn, around 570,000 insured workers are waiting to receive higher pension payments under the proposed CARE formula, which could help ease financial hardship for retirees with insufficient savings.

The CARE model (Career-Average Revalued Earnings) would replace the current calculation method, which is based on the average salary during the final 60 months of employment. Critics say the existing formula disadvantages workers whose wages decline toward the end of their careers, resulting in pensions that do not reflect their long-term contributions or rising living costs.

Under the proposed system, past wages would be adjusted to present value using an economic index before calculating a lifetime average for pension benefits. Reform advocates say this approach would better reflect career earnings, improve fairness, and align payouts with current economic conditions.

The study on revising the pension formula has already been completed, and public consultations have been held. Supporters argue the change should take effect within the year.

Thailand is rapidly becoming an aging society, increasing pressure to strengthen its pension system to ensure fairness, sustainability, and adequate income for retirees.