Aged pension...? For Thais.....anyone with insight on assistance for elderly...?

[mikey88]

Hello,

Anyone who has the facts on this issue I’d be most grateful...

I’m having trouble getting accurate information from my partner but it’s about support for older Thai relatives.

 

I’m aware the safety net is very different or possibly non existent here but it would be useful to hear from people with knowledge on this.

 

Does the government provide any payment at all to elderly Thais ?

And if so ....how much and what are the conditions...?

 

Once again appreciate any assistance from expats with the right info.

[canthai55]

MIL after 60 gets 600 THB per month - 70 get 700 - 80 get 800 -direct deposit into her bank account. Also gets a card - like ID card, to purchase 300 THB worth of goods at local stores, if you meet the criteria of being poor and have minimum money in the bank - amount unknown. 500,000 THB maybe - ?

Years past you told the Phu Yai Ban - now must go register at Tessaban

This at Pa Pong - others unknown

[CMHomeboy78]

   The information provided by canthai55 sounds accurate but there might be some slight differences depending on where you live.

   We are near the Gymkhana Club and Wat Muang Guy just outside town.

   The Thai nanny who helped raise our two daughters became part of the family and stayed on with us after the girls grew up.

   In her 80s now, she receives a cash payment of 1000 baht per month plus total healthcare and other benefits mostly related to food subsidies.

   We provide her with a place to live, a small addition on the house, but the government assistance is welcome and appreciated.

   

[jackdd]

I don't know exact numbers, but the numbers that canthai55 gave above do about match what I've heard from different people, so they might be correct, or are at least in the right ballpark.

They do of course also get the free Thai health care (30THB per hospital visit, not charged by some hospitals)

[mikey88]

On 4/19/2021 at 9:43 AM, canthai55 said:

MIL after 60 gets 600 THB per month - 70 get 700 - 80 get 800 -direct deposit into her bank account. Also gets a card - like ID card, to purchase 300 THB worth of goods at local stores, if you meet the criteria of being poor and have minimum money in the bank - amount unknown. 500,000 THB maybe - ?

Years past you told the Phu Yai Ban - now must go register at Tessaban

This at Pa Pong - others unknown

Thank you....I appreciate you taking the time to reply...

Very hard to get this information otherwise.....I’m trying to plan for the future for my partner’s family...

[mikey88]

On 4/19/2021 at 3:42 PM, jackdd said:

I don't know exact numbers, but the numbers that canthai55 gave above do about match what I've heard from different people, so they might be correct, or are at least in the right ballpark.

They do of course also get the free Thai health care (30THB per hospital visit, not charged by some hospitals)

Thanks a lot ....appreciate you taking the time....All the best..

[mikey88]

On 4/19/2021 at 9:46 AM, CMHomeboy78 said:

   The information provided by canthai55 sounds accurate but there might be some slight differences depending on where you live.

   We are near the Gymkhana Club and Wat Muang Guy just outside town.

   The Thai nanny who helped raise our two daughters became part of the family and stayed on with us after the girls grew up.

   In her 80s now, she receives a cash payment of 1000 baht per month plus total healthcare and other benefits mostly related to food subsidies.

   We provide her with a place to live, a small addition on the house, but the government assistance is welcome and appreciated.

Thanks.....appreciate your reply....big help.

[mikey88]

On 4/19/2021 at 3:42 PM, jackdd said:

I don't know exact numbers, but the numbers that canthai55 gave above do about match what I've heard from different people, so they might be correct, or are at least in the right ballpark.

They do of course also get the free Thai health care (30THB per hospital visit, not charged by some hospitals)

Thanks a lot...big help. Ta.

[Bangkok Barry]

The local admin office in the form of her niece has contacted my wife a year in advance of her turning 60 to arrange her monthly payments.

[Peterw42]

OP, as above, 600-700 baht a month, depends on age. As some older Thai people have flown under the radar their whole life, it may mean registering with local ampher etc, even opening a bank account etc.

My wife had an aunty who literally didn't exist, never had an ID, not in a blue book etc, so had to go through a  process to register, to get pension.

[rwill]

He is correct above.  It starts at 600baht/month at 60 and goes up 100 baht/month every 10 years.  

 

Also depending on where they worked may get money from that too.  Often it is a one time payment though.

[kingstonkid]

The original plan and I think the government is still in this frame is that looking after the aged is the families responsibility.

 

The plan here and it used to be a long time ago in the west is that

 

 

mom and dad have kids

 

Grandma and grandpa look after the kids 

Mom and dad look after and help grandma and grandpa.

 

It is a circular thing but the way Thai society is now I think it is something that is dying because of the costs of living and the westernization of Thailand and many other Asian countries.

Let's face it no one can live on 1000 baht a month

[GreasyFingers]

There is also an extra payment if they have a disability, something like "patenar sun com"

[mikey88]

what about starting to pay in now to some type of ‘retirement savings plan’ to boost that government money.

 

any ideas...?

[kingstonkid]

2 hours ago, mikey88 said:

what about starting to pay in now to some type of ‘retirement savings plan’ to boost that government money.

 

any ideas...?

That is probably the worst idea.  Name me a country that has the pension plans working for people to survive.

 

The better plan is to teach the young people how to look after their money and teach them about 3 rules

 

1. The rule of Pay yourself 10% into an investment (right now I would say gold or crypto)  

2. Educate yourself about investing and learning how to look after your money

3. The rule of 72 it both will make you happy and will scare the <deleted> out of you.

 

There is no where in the world that you can live in your home country and survive on the government pension.

[Enoon]

2 hours ago, kingstonkid said:

That is probably the worst idea.  Name me a country that has the pension plans working for people to survive.

 

 

 

 

 

Netherlands.

 

[kingstonkid]

2 minutes ago, Enoon said:

 

Netherlands.

 

That is probably one of the few.

Thanks 

[NancyL]

Check out the retirement savings plans at retail banks like Bangkok Bank and Siam Commercial Bank.  If someone pays income taxes in Thailand, they can pay pretax income into a bank retirement savings account and deduct it from their income taxes, like an IRA account in the U.S.

 

I realize many Thai people don't pay income taxes, but even if they don't these bank plans could be good and a way to start regular savings at an early age.  Hubby and I started to set aside 10 - 15% of our income for retirement as soon as we graduated college and started our careers and we're enjoying it now.  Sure, we didn't live in as big a house as some of our peers or drive flashy cars like some of them, but we built up a very nice nest egg for retirement.

[Dante99]

2 hours ago, NancyL said:

they can pay pretax income into a bank retirement savings account and deduct it from their income taxes

deduct from their income taxes or from their taxable income?

[JingerBen]

On 4/19/2021 at 9:46 AM, CMHomeboy78 said:

   The information provided by canthai55 sounds accurate but there might be some slight differences depending on where you live.

   We are near the Gymkhana Club and Wat Muang Guy just outside town.

   The Thai nanny who helped raise our two daughters became part of the family and stayed on with us after the girls grew up.

   In her 80s now, she receives a cash payment of 1000 baht per month plus total healthcare and other benefits mostly related to food subsidies.

   We provide her with a place to live, a small addition on the house, but the government assistance is welcome and appreciated.

   

Your point about gov't assistance being different depending on where you live is quite true. It especially applies to supplemental benefits.

My wife's extended family includes a number of old folks, no two of whom receive equal amounts of aid even though they may be the same or very close in age.

It varies not only from province to province but sometimes between different amphurs.

Incidentally, your post is a good example of how Thais have, traditionally, taken care of their own.

Changes in the society are ongoing, that's for sure, but the spirit of personally caring for family elders hasn't completely died out here... not yet, anyway.

 

 

[NancyL]

18 hours ago, Dante99 said:

deduct from their income taxes or from their taxable income?

I believe it's from their taxable income, although I'm certainly not an expert on Thai tax law.  The regulation for personal income tax in Thailand are really quite simple, at least compared to the U.S.  Here is an official government explanation, in English: https://www.rd.go.th/english/6045.html 

 

In Chiang Mai, I found the staff at the tax office to be quite helpful, if you spoke Thai or had a Thai speaker with you who was capable of translating tax terms into your language.  One of the friendliest Thai government departments I've worked with.