NCPO to revive Thai pension system

[max72]

Might I suggest to Khun Prayuth to look at Chile ?

They have a successfull hybrid pension system where you can choose between the state pension and a private company.

Private companies when enters the market, have to leave a deposit which will be used to refund the people in the case one of them fails, just like the private banks.

Chile's system has been regarded as one of the most successfull.

[FangFerang]

This makes the rice pledging scheme look like an honest charity.

Of course both sides of the divide will hail this incredible expense as a sanguine and proper course of action.

I say pay them all a standard pension based on their declared income.

The squealing rats would screech so loud all the glass houses would shatter.

[metisdead]

Off topic posts and replies have been removed.

[tullynagardy]

In a poll recently 80% of Thais expressed satisfaction with the Junta up to now.

and in the recent North Korean election 100% voted for the government.

The truth is people are scared to show dissent in any way, a fool can see that.

[metisdead]

Some more off topic posts have been removed.

[mutha289]

A national pension system, that sounds suspiciously like the U.S. social security. I hope the Thai government funds it better than the U.S. does social security . . . I'm not sure that when I'm ready to retire there will be any social security funds left for me to collect!

[Acharn]

So where will the money come from to fund the pensions?

Same place where the money comes from to pay the current salaries of government employees. I would love to see the NCPO improve tax enforcement on the ultra-rich.

[3NUMBAS]

will the issan famers be included or just those BKK ***** shirts

[Morch]

will the issan famers be included or just those BKK ***** shirts

The OP refers to government officers. Not an all encompassing pension plan for all Thais.

[4evermaat]

I understand how it works But not why it is like that?

When taxes are used to fund pensions, as is the case with the government officials' pensions, it makes no sense that only certain people (government officials) receive these pensions, especially not as it is something everyone needs more or less equally?

Private pensions, compulsory or otherwise, are an entirely different matter, they are, as the word says, private.

Private pensions are still covered by the gov't, even in the USA (especially in the USA) because all the credits are interrelated. All of those industries and workers ultimately contribute to the economy as a whole. In addition to his social security, my dad still gets private pension. I could only imagine if the private pension were to fail; what incentive would people have to work? It's a perpetual 'borrowing from the future' combined with 'too big to fail'.

[billd766]

Why not just pay them the same standard pension any other Thai senior citizen gets ? I can hear the squeals...

My MIL gets a government pension every month.

The princessly sum of 600 thb

per month.

The good news is that she is not taxed on it.

[citizen33]

Another depressing thread. One poster answers the question 'where will the money came from?' by saying it will be transferred from terminated 'vote buying policies'. To the extent that the phrase has any meaning, this is about policies that favour the population or interest groups that might vote for one's own party. And what is the demographic of the Democrat/yellow/royalist side? Of course, it is loaded with officials, and this would seem to be a classic case of rewarding the core support, if not exactly the voters.

Other posters muse about whether Thailand will ever have a pension or social security scheme. They make it look as though they have never heard of the Social Security Scheme, the civil service schemes (discussed in the OP), or the (small) pensions for older people. True, they are not very generous, but they exist for quite large groups. How can our posters have such strong political views when there are such huge gaps in their knowledge of Thailand?

[belg]

lets put VAT at 21% like in many EU countries...

somebody has to cough up the dough

maybe some TAX on unused land, nooooooooooooo, that would hurt the elite to much that own 90% of the country

[oyster]

The money will come from areas that the government no longer has to fund such as the stupid one Tablet one child scheme and other such schemes the government used to buy votes with. Not even the USA and GB who are financial powers buy their students computers.

Pardon me - but I think classing USA and UK as financial powers my be a shade historical, the UK was seriously circa 1914 - two major wars and crap politicians have taken her to the verge of bankruptcy, likewise the States...............

[Chris Lawrence]

Well they aren't spending money on infrastructure projects. It’s really good that the boys in the back room are setting themselves up for a life after public office?

Most countries in the world are looking at future pension payments to ensure they are sustainable, whereas this step appears retrograde in approach to the health of the economy.

What about pensions for the rest of the Thai people?