Old-age pension eligibility to be extended to 60 years old

[webfact]

Old-age pension eligibility to be extended to 60 years old
By The Nation

 

SSO chief Dr Suradech Waleeitthikul

 

BANGKOK: -- The Social Security Office (SSO) will amend the law to extend the eligible age to collect the old-age pension from 55 to 60, meaning insured people can remain in the workforce until age 60.

 

The move will boost life stability for insured persons and support the ageing society, said SSO chief Dr Suradech Waleeitthikul on Monday.

 

The amendment is in line with the policy instruction of Labour Minister General Sirichai Distakul to create improved life stability for people while working and in retirement.

 

It move requires an amendment to the Social Security Act 1990, he said.

 

The SSO is conducting a feasibility study that will be presented to the minister soon, he added.

 

Source: http://www.nationmultimedia.com/news/national/30319116

 

-- © Copyright The Nation 2017-06-26

[JoePai]

Still too young  - should be 65 minimum

[jaltsc]

 "...insured people can remain in the workforce until age 60."

 

This should be a disappointment for all of those who wanted to retire at 55, do nothing,  and live off that generous pension of 500 baht per month. So much for the easy retirement of fast cars, fancy vacations and eating at high end restaurants every night. 

[DavoTheGun]

I think it has been increased to 600 Baht per month, will go a long way!

[TerryLH]

"I think it has been increased to 600 Baht per month, will go a long way!"

 

That's not the group of people the article is talking about.

[Bastos60]

5 hours ago, JoePai said:

Still too young  - should be 65 minimum

For the people that don't perform hard labour it should be at least to 62 for Thailand.

People working the land in rice fields or fruit farms they should only be increased up to 58.

[nahkit]

10 hours ago, webfact said:

The Social Security Office (SSO) will amend the law to extend the eligible age to collect the old-age pension from 55 to 60, meaning insured people can remain in the workforce until age 60.

Don't pee on my shoes and tell me its raining.

[Thechook]

It's 70 in Australia except for politicians. Thais seem to think also that once you reach 30 you are old and passed you use by date, unemployable.

[Bill Miller]

I think I recall my GF saying her 90-year-old dad gets 600 a month; somewhat less than $20 US.
Most of his medical expense is covered under one scheme or another which helps but still does not go far.
The pee sows have been carrying him, and granddaughters kicking in as they can, but the older sisters are getting older, too. Earning potential for old farmers does not increase, especially with ailing spouses, etc. The younger set is getting to the stage of needing houses, cars, etc.
I personally know everyone in the family, and there are no Khwai Puai involved, but even an oh so wealthy farang has limits.
So... yes. Something needs to be done.

[YetAnother]

On 6/26/2017 at 11:17 AM, webfact said:

will amend the law

and the feasibility study is not complete yet

[YetAnother]

On 6/26/2017 at 0:16 PM, JoePai said:

Still too young  - should be 65 minimum

and the mandatory retirement process should be scrapped