Thailand’s population ages like fine wine, marking a global trend

[webfact]

 

The global ageing population has seen a swift rise in the past three decades, with two-thirds of individuals over 60 residing in developing Asian countries. As of 2021, Thailand has officially become a fully aged society, with a fifth of its population aged 60 or above, as per World Health Organisation and UN data.

 

By 2031, Thailand is projected to transition into a super-aged society, with 28% of its population crossing the age of 60. Data from the Social Development and Human Security Ministry’s Department of Older Persons reveals that up to two-thirds of the Thai elderly lack sufficient income or savings for self-support. A mere 5% of the Thai elderly population has savings exceeding 1 million baht.

 

The government has employed various financial instruments to cater to the needs of this expanding demographic. These include the establishment of the National Pension Fund Act, which mandates Thai businesses to allocate provident funds for employees, and a National Savings Fund to promote savings among informal workers.

A reverse mortgage, another financial tool, offers funds for those who haven’t saved enough for retirement. This mechanism flips the conventional payment stream, with the lender making payments to the borrower. The borrower’s home serves as collateral in this arrangement.

 

Full story: The Thaiger 2023-10-30

 

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[bob smith]

a fine wine?

 

More like malt vinegar.

[2baht]

18 minutes ago, bob smith said:

a fine wine?

 

More like malt vinegar.

 

     I was thinking along those lines too! 👍

[stoner]

if my wives' mom is any indication of what i can look forward to....

[bob smith]

3 minutes ago, stoner said:

if my wives' mom is any indication of what i can look forward to....

i'd still do my mother in law though..

Edited October 30, 2023 by bob smith

[stoner]

Just now, bob smith said:

i'd still do my mother in law though..

 

can i come over for dinner ? invite the mammy. 

[bob smith]

1 minute ago, stoner said:

 

can i come over for dinner ? invite the mammy. 

she's got a crackin bum on her.

 

she's never been with a farang before..

[2baht]

22 minutes ago, bob smith said:

she's got a crackin bum on her.

 

she's never been with a farang before..

 

     Patched things up with Mrs Smith, Bob?

[hotchilli]

5 hours ago, bob smith said:

a fine wine?

 

More like malt vinegar.

 

4 hours ago, 2baht said:

 

     I was thinking along those lines too! 👍

Including the luxury tax.

[dinsdale]

Thailand’s population ages like fine wine

What complete nonsense. Many a fine wine becomes absolutely undrinkable because it's been corked. Who comes up this BS? The majority of Thailand's eldery are living in poverty or close to it. Saved enough for their retirement? Yeah right! This article is propaganda. How about real social secruity and retirement benefits. Not a few thousand baht a month.

Edited October 30, 2023 by dinsdale

[Burma Bill]

A fine wine???

 

Oh really - Chateaux Plonk!!

 

Edited October 30, 2023 by Burma Bill
additional information

[Muhendis]

7 hours ago, bob smith said:

a fine wine?

 

More like malt vinegar.

Would that be a single malt?