MoU signed to extend retirement age of 12 business firms from 55 to 60

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MoU signed to extend retirement age of 12 business firms from 55 to 60

 

 

BANGKOK: -- A memorandum of understanding was signed on Wednesday by Thai Health Promotion Foundation, Foundation of the Institute for Research and Development of Elderly People and 12 business enterprises to extend the retirement age from 55 to 60.

 

Labour permanent secretary M.L. Buntharik Samiti who chaired the MoU signing ceremony said that the MoU signing amounted to a declaration of cooperation to extend the retirement age of employees in the private sector from 55 to 60 to herald the advance toward aging society due in 2024 when elderly people in Thailand will represent 20 percent of the population.

 

Full story: http://englishnews.thaipbs.or.th/mou-signed-extend-retirement-age-12-business-firms-55-60/

 

-- © Copyright Thai PBS 2016-09-08

[maoro2013]

Why the private sector, what about the government employees?

 

Its a pathetic indictment on many governments that people are now forced to work longer because there is an ageing population. This issue has been known for decades. Australia is talking about the pension age being lifted to 70 years.

 

In Thailand the burden mainly falls upon the family, so the MOU does little, if anything.

 

Is the world going forward or not, it seems to me we are actually losing, we have to work longer to survive?

[Pib]

Good lord!!!!...allowing people to work until 60 years of age!!!!why people who are over 60 have little mental or physical abilities left!!!   

(P.S. this is sarcasm) 

[williamgeorgeallen]

everyone should have to follow the same rules, public or private. in australia a politician can retire for life on a large retirement income after working for 18 years regardless of age. of course their retirement income is not means tested like everyone else. 

[Thaidream]

There should be no age limit for retirement. One should be able to work forever, as long as fit and able. In Thailand, people are forced to retire at an age when they sre still viable workers and have a wealth of experience. The real reason is that employers do not want to pay older workers what they are worth and instead would replace them with entry level people who know little and have no experience. Look at the service levels in Thailand and you will understand why. American business is no better except there are certain laws that busines must follow or be sued.A sad commentary on the state of ethics in  today's World.

[elgordo38]

7 hours ago, maoro2013 said:

Why the private sector, what about the government employees?

 

Its a pathetic indictment on many governments that people are now forced to work longer because there is an ageing population. This issue has been known for decades. Australia is talking about the pension age being lifted to 70 years.

 

In Thailand the burden mainly falls upon the family, so the MOU does little, if anything.

 

Is the world going forward or not, it seems to me we are actually losing, we have to work longer to survive?

We have been losing for quite some time now. The plantation owners need to keep their slaves longer they have a big investment in their training. Governments do not have the pension money to pay. The job I worked on the pensions are now in the employee's hands to with as he wishes regardless of his financial expertise. If he buys into an Enron type of stock in the future its goodbye Charlie Brown. 

[khundon]

On 08/09/2016 at 4:17 AM, Thaidream said:

There should be no age limit for retirement. One should be able to work forever, as long as fit and able. In Thailand, people are forced to retire at an age when they sre still viable workers and have a wealth of experience. The real reason is that employers do not want to pay older workers what they are worth and instead would replace them with entry level people who know little and have no experience. Look at the service levels in Thailand and you will understand why. American business is no better except there are certain laws that busines must follow or be sued.A sad commentary on the state of ethics in  today's World.

Great in an ideal world, but what about those younger people coming along behind. Where will they find jobs if people go on working for many years past retirement age.

Retirement at 60 is a lot better than in UK, where 66 is fast becoming the norm.

Don't get me wrong, keeping older people in work so that they can teach the younger generation and pass on their skill and knowledge is commendable and many people in UK past retirement age are still working and putting off collecting the state pension.

Also, working into your old age if you are capable, keeps you fit and active.

My dad retired at 65, but then worked until he was 80 at another job, not because he had to, but because he wanted to keep active and stay a part of the working community.