November 2025
10Nov

Thailand. Government revisits plan to raise civil service retirement age to 65

Thailand is revisiting the proposal to extend the civil service retirement age from 60 to 65, a reform aimed at addressing the ageing population and labour shortages. A report from the OCSC shows that, as of 2024, Thailand has 1.12 million government officials, including 414,088 civil servants, who are the main group under review for the proposed age extension. Other categories include 441,168 teachers, 268,063 local administrative officials, 213,086 police officers, 26,364 officials from independent constitutional agencies, 9,408 university civil servants,...

November 10, 2025
News, ,
Read more...

May 2025
13May

As Thailand markets itself as retirement haven, its tourism sector struggles to find young workers it desperately needs

Thailand is accelerating toward an aged society, much like Japan, with major economic implications looming. As of 2023, over 20% of Thailand’s population is aged 60 or older, officially classifying the country as an “aged society.” The National Economic and Social Development Council (NESDC) projects that by 2037, more than 30% of Thais will be elderly, significantly reducing the working-age population. At the same time, Thailand’s total fertility rate has plummeted to 1.08 births per woman in 2023, far below...

May 13, 2025
News, Slider, ,
Read more...

March 2025
11Mar

Thailand. Social Security Board approves fairer pension calculation

The Social Security Board has approved an adjustment to the calculation of retirement pensions to ensure fairness among Section 33 and Section 39 insurers on Tuesday. Marasri Jairangsee, secretary-general of the Social Security Office, stated that the three-hour discussion included representatives from employers, employees and the government. “Labour Ministry permanent secretary Boonsong Thapchaiyut, who chaired the Social Security Board, has approved the adjustment to the pension calculation for Section 33 and 39 insurers,” she said. She explained that the adjustment has been under...

March 11, 2025
News, Slider,
Read more...

November 2024
12Nov

APG, AIA Thailand turn climate risk into investment opportunity

Two major asset owners discuss how they are deploying capital across the region and targeting sustainable investments in forestry, infrastructure, and green energy. For the nearly $600 billion Dutch pension fund investor, sustainable investment isn't just about ticking boxes – it's about wielding their considerable investment capital to address real-world climate and biodiversity challenges while delivering strong returns, according to Eric van der Maarel, chief executive officer of APG Asset Management’s Singapore office. "Allocating to megatrends with clear sustainability goals is...

November 12, 2024
News, ,
Read more...

June 2024
24Jun

Thailand becomes first South-East Asian country to legalise same sex marriage

Thailand has become the first nation in South-East Asia to legalise same sex marriage, with the country's Senate approving the landmark bill on Tuesday afternoon. The legislation was expected to pass after it cleared the country's House of Representatives in a near-unanimous vote in March. Despite Thailand's bustling gay bars and prominent transgender community making it a mecca for LGBTQ+ tourists, until now local same-sex couples there have been unable to marry. The law will take effect 120 days after its announcement in the...

June 24, 2024
News, ,
Read more...
18Jun

Thailand pension fund GPF studies asset allocation to seek resilient traits, report says

Thailand’s Government Pension Fund (GPF) is conducting a study on its strategic asset allocation strategy to identify characteristics of assets that can be resilient to risks over the next three years, Songpol Chevapanyaroj, secretary-general of the pension fund for civil servants, says in an interview with the Bangkok Post. The study is expected to be completed in the fourth quarter. “The difficulty in investment allocation is you cannot fully rely on either domestic or foreign investments,” Songpol is quoted as saying in...

June 18, 2024
News,
Read more...

March 2024
11Mar

Thailand raises alarm on aging population, declining birth rates

Thailand officials engaged in discussions last week to exchange opinions, seek solutions, and address the challenges of the country's transitioning into an aging society and the younger generation's reluctance to have children. Varawut Silpa-archa, Minister of Social Development and Human Security, chaired the workshop on March 7 at the Queen Sirikit National Convention Center. The minister highlighted the demographic structure issues, including the declining birth rate and the increasing average lifespan. It is projected that by 2037, the proportion of children...

March 11, 2024
News, ,
Read more...

April 2023
21Apr

Retirement Savings Behaviours and Covid-19: Evidence from Thailand

By Paul Gerrans, Sunatharee Lhaopadchan & Sirimon Treepongkaruna This paper utilises administrative data from members of the Thai Government Pension Fund to examine voluntary contributions and investment plan change. We find low overall incidence of both behaviours which increased only modestly during the onset of COVID-19. While the major finding is that members are in the minority if they engage in the behaviour regardless of gender, salary, balance, or experience in the fund, the relative probability varies systematically by member...

April 21, 2023
Articles, Savings, , , , , ,
Read more...
21Apr

Thailand: Pensions and Farmers’ Subsidies Top Election Agenda

With the kingdom’s population ageing and the debt-ridden farmers becoming restless, Thailand’s political parties are gearing up for the May 14 elections offering populist policies to woo the votes of both sectors of the population. Over 52 million people are eligible to vote for electing 500 members to the House of Representatives. With campaigning for the election gathering momentum since December 2022, Thai political parties have announced a range of attractive policies to win their votes. These include subsidies for...

April 21, 2023
News, ,
Read more...
05Apr

Aging, Inadequacy, and Fiscal Constraint: The Case of Thailand

By Phitawat Poonpolkul, Ponpoje Porapakkarm & Nada Wasi We use an overlapping generations model to study the challenge in developing countries with a large informal sector and aging populations. We use Thailand as a case study and incorporate its labor market structure and its public pension system into the calibrated model. Unlike developed countries, workers in developing countries commonly transit from the formal sector to the informal sector, which can be in the early stage of their working life. This...

April 5, 2023
Adequacy, Aging, Articles, , , , , ,
Read more...