Finance Ministry plans to raise retirement pensions

[webfact]

Finance Ministry plans to raise retirement pensions
By Digital Content



BANGKOK, Dec 29 -- Thailand's Ministry of Finance will ask the cabinet to raise pensions for retired civil servants.

Comptroller General Manas Jamveha said he proposed the pension rise to follow the recent salary increase for government officials. The rise could be done through an increase in the cost-of-living allowance or a direct rise of pensions.

The request could be submitted to the cabinet tomorrow, Mr Manas said.

It was reported that Rangson Sriworasat, permanent secretary for finance, supported the rise to take retroactive effect from Dec 1 and it would cost the state Bt3.85 billion annually.

About 533,000 pensioners will benefit from the hike.

Traditionally a salary increase for pensioners followed a pay rise of government officials.

Earlier the cabinet approved the 4 per cent salary rise for 1.98 million government officials and their increases took effect on Dec 1. The increase costs the state Bt22.9 billion. (MCOT online news)

-- TNA 2014-12-29

[JOC]

Thailand's Ministry of Finance will ask the cabinet to raise pensions for retired civil servants.

What about the rest of the population??

Another patch-work!!

[iReason]

Have to make up for those dwindling Brown Envelopes...

[Thailand]

My comment would not meet mod approval.

I initially thought it referred to those that actually need it.

[nong38]

What about the rest of the population, as mentioned above? What about the vast number of Thais who cannot afford to retire? It is just looking after number 1 when the PM is asking people to consider others, how did this slip through the net? Is this an example of Thainess to be held up to the country the Asean and the world?

What is the current pension and what will it be anyone know?

[ukchatterbox]

What about the rest of the population, as mentioned above? What about the vast number of Thais who cannot afford to retire? It is just looking after number 1 when the PM is asking people to consider others, how did this slip through the net? Is this an example of Thainess to be held up to the country the Asean and the world?

What is the current pension and what will it be anyone know?

Considering the UK have increased the pension age and will continue to do so making many work well into their 70's along with the annual increase changed to the lower CPI from RPI the Thai government seem to be acting in the correct way...especially when many consider here a " Third World Country"

[nong38]

What about the rest of the population, as mentioned above? What about the vast number of Thais who cannot afford to retire? It is just looking after number 1 when the PM is asking people to consider others, how did this slip through the net? Is this an example of Thainess to be held up to the country the Asean and the world?

What is the current pension and what will it be anyone know?

Considering the UK have increased the pension age and will continue to do so making many work well into their 70's along with the annual increase changed to the lower CPI from RPI the Thai government seem to be acting in the correct way...especially when many consider here a " Third World Country"

But they are only doing this for Government employees, which cannot be right can it?

What is a "third world country"? 20 years ago Thailand was mainly a farming country with infrastructure to match, I would not say much progress has been made on the infrastructure as nothing seems to last very long before it needs repairing/replacing. Standards are low compared to Western countries in almost all areas. Even in countries like France you have, on the one hand the TGV racing around the country and then the country service which is not much different to here, but Thailand has a way to go before it can join the "advanced economy" status, when it does it might cost a lot more to live here, in the meantime spare a thought for all those not included on the new pension deal, who wish they were on 15000bts a month plus.

[BirdsandBooze]

What about the rest of the population, as mentioned above? What about the vast number of Thais who cannot afford to retire? It is just looking after number 1 when the PM is asking people to consider others, how did this slip through the net? Is this an example of Thainess to be held up to the country the Asean and the world?

What is the current pension and what will it be anyone know?

Considering the UK have increased the pension age and will continue to do so making many work well into their 70's along with the annual increase changed to the lower CPI from RPI the Thai government seem to be acting in the correct way...especially when many consider here a " Third World Country"

The increase is for civil servants only. It has nothing to do with the state pension which is a pittance.

[Sviss Geez]

Thailand's Ministry of Finance will ask the cabinet to raise pensions for retired civil servants.

What about the rest of the population??

Another patch-work!!

"What about the rest of the population??"

That would be up to "the rest of the population's" previous employers who pay their pension. Nothing to do with the MoF who are only responsible for civil servants.

[harryfrompattaya]

What about the rest of the population, as mentioned above? What about the vast number of Thais who cannot afford to retire? It is just looking after number 1 when the PM is asking people to consider others, how did this slip through the net? Is this an example of Thainess to be held up to the country the Asean and the world?

What is the current pension and what will it be anyone know?

Considering the UK have increased the pension age and will continue to do so making many work well into their 70's along with the annual increase changed to the lower CPI from RPI the Thai government seem to be acting in the correct way...especially when many consider here a " Third World Country"

The British are a smart and strong group they do not need a pension they can work until they died

[Fatty123]

That was cruel lol. I thought it was about Imm raising requirements for visas again. Poor old buggers must've filled their pants (the ones that didn't read the headline properly like me anyway).

[prakhonchai nick]

Far too many Isaan working people "retire" in their early 50's or even earlier when their daughters are old enough to be sent off to work in bars around the country.

Most others care only for today, and never consider their financial needs when older. There are schemes for pensions, but not being compulsory, nobody saves!

Don't blame the government!

[Valentine]

Thailand's Ministry of Finance will ask the cabinet to raise pensions for retired civil servants.

What about the rest of the population??

Another patch-work!!

"What about the rest of the population??"

That would be up to "the rest of the population's" previous employers who pay their pension. Nothing to do with the MoF who are only responsible for civil servants.

Most of "the rest of the population" do not have access to any benefits as they were basically self employed on the farm. Upon reaching 60 years of age they do get a monthly pittance from the government of 500 or 600 Baht per month. I think these are the people JOC is referring to.

[Valentine]

Far too many Isaan working people "retire" in their early 50's or even earlier when their daughters are old enough to be sent off to work in bars around the country.

Most others care only for today, and never consider their financial needs when older. There are schemes for pensions, but not being compulsory, nobody saves!

Don't blame the government!

Your generalizations are disgraceful. You think they do not care about tomorrow. Mostly they are too busy trying to survive today.

[HUAHIN62]

Far too many Isaan working people "retire" in their early 50's or even earlier when their daughters are old enough to be sent off to work in bars around the country.

Most others care only for today, and never consider their financial needs when older. There are schemes for pensions, but not being compulsory, nobody saves!

Don't blame the government!

Most factory workers are from Isaan and most women from Isaan make their living honestly, so your wharped view of them let me think you have been to too many bars. Just for the record my wife arent from there.

[Doc46]

Thailand's Ministry of Finance will ask the cabinet to raise pensions for retired civil servants.

What about the rest of the population??

Another patch-work!!

Same old story,,,,The Poor get Poorer The Rich get Richer,,,,

[schietkop]

Thailand's Ministry of Finance will ask the cabinet to raise pensions for retired civil servants.

What about the rest of the population??

Another patch-work!!

Same old story,,,,The Poor get Poorer The Rich get Richer,,,,

i hear it a lot "poor get poorer" "rich get richer". Whats the definition for being rich or poor? Even when I have some money, I always end up with nothing , how come if im rich I should be getting richer! Or is rich for millionairs (in USD)? Or is it just people who are not happy with what they have call themselves poor? Confusing!

I might add to this that many of the rich have debt going beyond their assets so actually they have a negative balance. It means they are poorer then the poorest who just have nothing and no debt (hopefully), I guess.... Well its all not so simple:)

[Anon999]

What about the rest of the population, as mentioned above? What about the vast number of Thais who cannot afford to retire? It is just looking after number 1 when the PM is asking people to consider others, how did this slip through the net? Is this an example of Thainess to be held up to the country the Asean and the world?

What is the current pension and what will it be anyone know?

Is it any different in the UK? Not to my knowledge.

[billd766]

What about the rest of the population, as mentioned above? What about the vast number of Thais who cannot afford to retire? It is just looking after number 1 when the PM is asking people to consider others, how did this slip through the net? Is this an example of Thainess to be held up to the country the Asean and the world?

What is the current pension and what will it be anyone know?

Considering the UK have increased the pension age and will continue to do so making many work well into their 70's along with the annual increase changed to the lower CPI from RPI the Thai government seem to be acting in the correct way...especially when many consider here a " Third World Country"

The increase is for civil servants only. It has nothing to do with the state pension which is a pittance.

It is not a pittance. My mother in law lives extremely well on her pension. She lives in her own house, has somebody to all the cooking, cleaning, laundry etc for her. Gets taken to the hospital whens she needs to go there, is looked after day and night,

All this on her state pension of 600 baht per month.

Of course my wife and help her out just a tiny bit.

[Time Traveller]

Thailand's Ministry of Finance will ask the cabinet to raise pensions for retired civil servants.

What about the rest of the population??

Another patch-work!!

the rest of the population will pay more in taxes so they can make life more comfortable for the civil servants. It's good to be a worker. It's good to be paying money to the state. Anything we can do to make the bureaucrats lives easier we should do it. We should not question our leaders. Sufficiency economy teaches us to be happy with what you have. One bowl of rice a day is enough for the laborer so it's more than enough for you.

Seeking democracy or freedom is lazy and extravogent. Thank you military leader for our happiness. Life's good being a worker in Thailand

[rickirs]

Civil service and government pay raises are not performance-based but adjustments for inflation, usually measured by the Consumer Price Index. So tying government pension pay raises to civil service pay raises is reasonable. However, there was no justification to raise government salaries given the decrease in the CPI since May 2014 unless it was to catch up for lack of pay raises in prior years to adjust for inflation. The economy has been in deflation with a 2014 CPI of 2% and projected to remain level at 2% through 2016. There should have been no civil service pay raise for 2015.

An unjustified pay raise across all civil service levels, and by extension for pensioners, lends itself to more institutional corruption. The civil service pay raise appears to be an attempt to gain support for the self-imposed Junta leadership to operate the government bureaucracy without an employee backlash. If that was not the case, the Junta should have also raised the minimum daily wage - it in fact initially questioned whether to reduce the minimum daily wage. Unfortunately, it seems the Junta can bully the general population more than with civil service.

[rubl]

Civil service and government pay raises are not performance-based but adjustments for inflation, usually measured by the Consumer Price Index. So tying government pension pay raises to civil service pay raises is reasonable. However, there was no justification to raise government salaries given the decrease in the CPI since May 2014 unless it was to catch up for lack of pay raises in prior years to adjust for inflation. The economy has been in deflation with a 2014 CPI of 2% and projected to remain level at 2% through 2016. There should have been no civil service pay raise for 2015.

An unjustified pay raise across all civil service levels, and by extension for pensioners, lends itself to more institutional corruption. The civil service pay raise appears to be an attempt to gain support for the self-imposed Junta leadership to operate the government bureaucracy without an employee backlash. If that was not the case, the Junta should have also raised the minimum daily wage - it in fact initially questioned whether to reduce the minimum daily wage. Unfortunately, it seems the Junta can bully the general population more than with civil service.

2013CPI.jpg CPIChange.jpg

So, do you have data on government salary levels especially in the lower scales ? Preferably with factual comparision with private sector lower scale wage levels. It would seem that info is needed in order to be able to talk about a 'unjustified' pay raise, or as the topic has a pension raise.

[Mudcrab]

Thailand's Ministry of Finance will ask the cabinet to raise pensions for retired civil servants.

What about the rest of the population??

Another patch-work!!

the rest of the population will pay more in taxes so they can make life more comfortable for the civil servants. It's good to be a worker. It's good to be paying money to the state. Anything we can do to make the bureaucrats lives easier we should do it. We should not question our leaders. Sufficiency economy teaches us to be happy with what you have. One bowl of rice a day is enough for the laborer so it's more than enough for you.

Seeking democracy or freedom is lazy and extravogent. Thank you military leader for our happiness. Life's good being a worker in Thailand

How many labourers do you know who survive on one bowl of rice a day?

How many Thai labourers do you actually know?

My guess is zero on both questions. But just happy to regurgitate the only "facts" you know about Thailand...most of which are garnered from TV no doubt.

Same as the idiots who have actually finally been able to score with a bar girl, whilst no lady in their home country would touch them, and then proudly spread the nonsense that all Issan ladies are whores, sold by their family into sexual slavery..

Shame on you.

Idiots.