There seems to be a nasty rumour going around that an increase in funds required for retirement are due to rise.

 

I have been told  twice now that there is due to be an increase to 2.8 million Baht later this year.

 

It came from a very long time good friend who got the info from someone who is clued up on immigration issues.

 

Has anyone else heard anything ? 

 

Please don't shoot the messenger, I'm only passing on what I heard and thought it would be a good idea to ask the wider knowledgeable membership if anyone had heard similar.

I mean, it sounds like a solid source...

 

In the unlikely event it does happen it'll be amusing to see the reactions from some of the "if you can't afford to play by the rules, go home" guys. But that minor satisfaction wouldn't make up for all the distress it would cause the silent majority of reasonable retirees who just get on with things quietly and mind their own business when it comes to other people's visas.

 

I personally think it's very unlikely to happen, anyway.

Wouldn’t surprise me, been expecting it for years. Hopefully Joe will sort them out. 

Seems a little bit unrealistic....2,8 million THB dive by 12 months is 235.000 a month is roughly 6000 euro a month.. Not many retirees have so much money as a pension

I think an increase is likely, in fact overdue (considering how long the current amount has been unchanged despite a sharp increase of cost of living).

 

But I have a hard time believing that the amount will jump from 800,000 baht to 2.8 million baht. If I had to guess, 100,000 baht monthly income or 1.2 million baht in the bank will be it.

2 minutes ago, Caldera said:

I think an increase is likely, in fact overdue (considering how long the current amount has been unchanged despite a sharp increase of cost of living).

 

But I have a hard time believing that the amount will jump from 800,000 baht to 2.8 million baht. If I had to guess, 100,000 baht monthly income or 1.2 million baht in the bank will be it.

I am wondering why the increase of living costs should have an impact on the retirees.. 65.000 tHB income every month is much more than a Thai earns and more than enough for an expat I believe.. I don't know how to spend so much money every month.. but alas..I don't go to pretties, massages, or don't need to drink alcohol every day

One reason this is unlikely to happen is that about 90% of people doing legal visa extensions via the money in the bank method will be unable/unwilling to comply and thus either leave Thailand or go down the illegal agent route.Either way there will be many billions of baht withdrawn from thai banks at a time when the economy can ill afford it.

People generally don't like leaving 800k here so 2.8m just won't work for most so there will be a big move to agents

11 minutes ago, chang50 said:

One reason this is unlikely to happen is that about 90% of people doing legal visa extensions via the money in the bank method will be unable/unwilling to comply and thus either leave Thailand or go down the illegal agent route.Either way there will be many billions of baht withdrawn from thai banks at a time when the economy can ill afford it.

I agree, I think the increase to 1.2 Million is more realistic, but that said, wasn't the last increase 4 fold? From 200.000 to 800.000? So if they do that again, it would mean 3,2 Million ???? 

If it goes this high of an amount hopefully the funds will not have to be in Thailand setting in an account without any growth.

 

I have read reports that 1.2M is currently required to get an O-A in the Los Angeles USA consulate so 1.2M would not surprise me. I am currently on an O-A and with the coming increase in required insurance as well as a possible increase in funds for retirement other countries seem a lot more appealing.

1 minute ago, MJCM said:

I agree, I think the increase to 1.2 Million is more realistic, but that said, wasn't the last increase 4 fold? From 200.000 to 800.000? So if they do that again, it would mean 3,2 Million ???? 

Even that will be beyond many but you could well be right.

Last time it increased to 800k wasn't there some kind of grandfather process in place?

Just now, scubascuba3 said:

Last time it increased to 800k wasn't there some kind of grandfather process in place?

Yes I believe there was, but there were (I am not sure) some rules about that.

 

@ubonjoe would know!

I think you are confusing the sum for the special, Elite Visa or proposed Long Stay visa. Both of these are to entice well-heeled, long-stay intended people. 

 

My guess is your "informed" source isn't. 

OP, stated don't shoot the messenger. 

Give me the gun, I'll have a crack.

May as well throw in rumor re compulsory insurance for all extensions. 

This thread belongs in the pub forum at best. 

2 minutes ago, Trujillo said:

I think you are confusing the sum for the special, Elite Visa or proposed Long Stay visa. Both of these are to entice well-heeled, long-stay intended people. 

 

My guess is your "informed" source isn't. 

I didn't say I formed source did I ? I said he was clued up, there is a difference.

52 minutes ago, Golden Triangle said:

It came from a very long time good friend who got the info from someone who is clued up on immigration issues.

 

So rock solid, third-hand information. Brilliant.

 

Thank goodness the friend's friend is "clued up".

 

 

Don't think too much, it's just a fake rumours, as most of the time

1 minute ago, mtls2005 said:

 

So rock solid, third-hand information. Brilliant.

 

Thank goodness the friend's friend is "clued up".

 

 

Please yourself, I don't really give a fig, I'm only posting for information purposes, I did ask if anyone had heard similar, no need for the personal digs.

This topic has no basis in reality.

Ignore.

Next

....

I would not be surprised. Immigration does not want us here. Neither does this extremely toxic administration. 

 

Their loss. Tens of thousands of expats are already leaving in droves. Give us more excuses, you non visionary simpletons. 

Heresay and scaremongering

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