TDRI calls for public and private sectors to prepare for ageing society

[Lite Beer]

TDRI calls for public and private sectors to prepare for ageing society
The Nation

BANGKOK: -- In order to prepare for Thailand's ageing society, the public and private sectors should push for policies that promote saving and motivate people to work beyond retirement age, an expert at Thailand Development Research Institute (TDRI) said.

TDRI research fellow Jirawat Panpiemras said the government should implement policies that ensure workers have life security, as Thailand will have a greater number of elderly people in the near future. He also urged the authorities to launch vocational alternatives for the elderly, especially in the service sector.

According to a TDRI study, a continuous decline in deaths and fertility rates has led to Thailand becoming an ageing society, and this would have an effect on economic growth. By 2030, one fourth of the population or 23.5 per cent will be elderly, he said.

In addition to rising medical costs, a larger number of senior citizens will inevitably affect the country's economy on several aspects, including fewer working-age people and a lower amount of savings. This shortage of labour will slow down the business sector if Thailand is unable to import migrant workers to fill the gap or does not develop technology that cuts down on manual labour, he said.

Jirawat said encouraging workers to continue working beyond retirement age by offering job security or amending the social-security law would help boost the economy in the long-term. He cited a study he and academic Nonarit Bisonyabut conducted with people aged between 50 and 59, saying that extending the retirement age would actually boost gross domestic product by 5 per cent by 2050.

He went on to say the government should implement other measures, such as vocational training for all age groups, promotion of quality education to produce a high-quality workforce and building advanced technology for better production capacity.

He also urged the business sector to set up strategies to make adjustments in response to the labour shortage, which might get worse in the future. This includes encouraging workers to stay on the job longer, promoting workers' well being and productivity, as well as developing technology.

Jirawat also called on the household sector to save more in order to ensure a secure old age and to continue improving skills to command better income.

Source: http://www.nationmultimedia.com/national/TDRI-calls-for-public-and-private-sectors-to-prepa-30246737.html

-- The Nation 2014-11-01

[clockman]

Thailand never prepares for anything!

[nong38]

I agree with you about preparing, but I am glad that someone sees what is happening elsewhere in the world and that Thailand is not immune to it, could be the world's biggest challenge of the future but each country has to deal with their own problem, we will probably not be around when it starts to kick off though.

[chainarong]

This should have been addressed fifty years ago , that's when preparations started in most western countries for an ageing population, it is a little too late for Thailand now, you have no safety net for anything to speak of when it comes to looking after people and you are not structured within the tax collections to make any headway in this field , as Thailand is too busy with infrastructure projects to bother with meddlesome oldies.,

[Searat7]

Seems that quite a few people retire here when they have children working to support them....this might be one of the causes of early retirement. It also seems that 50 here is like 60 in the West. You never see older people in many jobs here where it is common to see older people working in USA . For example I see peope in their 70's working as cashiers in super markets at home. There needs to be some kind of an adjustment here on how employers and the general public view older workers.

[rickirs]

Snice the labor shortage is not about foreigners taking Thai jobs, why not ease the "no work" restriction for foreigners on a retirement visa? Working foreigners means income taxes, social security contributions, and more domestic consumption.

[Bluespunk]

"In order to prepare for Thailand's ageing society, the public and private sectors should push for policies that promote saving and motivate people to work beyond retirement age, an expert at Thailand Development Research Institute (TDRI) said."

Because the state sure ain't gonna do anything to help you.

Taxes?

What happened to all those taxes you paid (indirect and direct)?

Oh, them, well...you know how it is.

We spent them on other shiny stuff we liked the look of.

Bye now.

[mikebell]

The aging population is alive and well, having a wonderful life in Pattaya.

[maidee]

so i guess the lassy in pattaya will have to work a few years longer

to keep daddy & the sons at the farm in front of the tv, hamac, bars, gambling den