Thailand Archives - Pension Policy International

11MarMarch 11, 2025

Thailand. Social Security Board approves fairer pension calculation

The Social Security Board has approved an adjustment to the calculation of retirement pensions to ensure fairness among Section 33 and Section 39 insurers on Tuesday. Marasri Jairangsee, secretary-general of the Social Security Office, stated that the three-hour discussion included representatives from employers, employees and the government. “Labour Ministry permanent secretary Boonsong Thapchaiyut, who chaired the Social Security Board, has approved the adjustment to the pension calculation for Section 33 and 39 insurers,” she said. She explained that the adjustment has been under...

March 11, 2025

News, SliderPension Reform, Thailand

12NovNovember 12, 2024

APG, AIA Thailand turn climate risk into investment opportunity

Two major asset owners discuss how they are deploying capital across the region and targeting sustainable investments in forestry, infrastructure, and green energy. For the nearly $600 billion Dutch pension fund investor, sustainable investment isn't just about ticking boxes – it's about wielding their considerable investment capital to address real-world climate and biodiversity challenges while delivering strong returns, according to Eric van der Maarel, chief executive officer of APG Asset Management’s Singapore office. "Allocating to megatrends with clear sustainability goals is...

November 12, 2024

NewsClimate crisis, Investment, Thailand

24JunJune 24, 2024

Thailand becomes first South-East Asian country to legalise same sex marriage

Thailand has become the first nation in South-East Asia to legalise same sex marriage, with the country's Senate approving the landmark bill on Tuesday afternoon. The legislation was expected to pass after it cleared the country's House of Representatives in a near-unanimous vote in March. Despite Thailand's bustling gay bars and prominent transgender community making it a mecca for LGBTQ+ tourists, until now local same-sex couples there have been unable to marry. The law will take effect 120 days after its announcement in the...

June 24, 2024

NewsLGBT, Public Policy, Thailand

18JunJune 18, 2024

Thailand pension fund GPF studies asset allocation to seek resilient traits, report says

Thailand’s Government Pension Fund (GPF) is conducting a study on its strategic asset allocation strategy to identify characteristics of assets that can be resilient to risks over the next three years, Songpol Chevapanyaroj, secretary-general of the pension fund for civil servants, says in an interview with the Bangkok Post. The study is expected to be completed in the fourth quarter. “The difficulty in investment allocation is you cannot fully rely on either domestic or foreign investments,” Songpol is quoted as saying in...

June 18, 2024

NewsInvestment, Thailand

11MarMarch 11, 2024

Thailand raises alarm on aging population, declining birth rates

Thailand officials engaged in discussions last week to exchange opinions, seek solutions, and address the challenges of the country's transitioning into an aging society and the younger generation's reluctance to have children. Varawut Silpa-archa, Minister of Social Development and Human Security, chaired the workshop on March 7 at the Queen Sirikit National Convention Center. The minister highlighted the demographic structure issues, including the declining birth rate and the increasing average lifespan. It is projected that by 2037, the proportion of children...

March 11, 2024

NewsAging, Labor Market, Thailand

21AprApril 21, 2023

Retirement Savings Behaviours and Covid-19: Evidence from Thailand

By Paul Gerrans, Sunatharee Lhaopadchan & Sirimon Treepongkaruna This paper utilises administrative data from members of the Thai Government Pension Fund to examine voluntary contributions and investment plan change. We find low overall incidence of both behaviours which increased only modestly during the onset of COVID-19. While the major finding is that members are in the minority if they engage in the behaviour regardless of gender, salary, balance, or experience in the fund, the relative probability varies systematically by member...

April 21, 2023

Articles, Savings2023, Behavioral Science, COVID-19, Income, Retirement Planning, savings, Thailand

21AprApril 21, 2023

Thailand: Pensions and Farmers’ Subsidies Top Election Agenda

With the kingdom’s population ageing and the debt-ridden farmers becoming restless, Thailand’s political parties are gearing up for the May 14 elections offering populist policies to woo the votes of both sectors of the population. Over 52 million people are eligible to vote for electing 500 members to the House of Representatives. With campaigning for the election gathering momentum since December 2022, Thai political parties have announced a range of attractive policies to win their votes. These include subsidies for...

April 21, 2023

NewsCoverage, Labor Market, Thailand

05AprApril 5, 2023

Aging, Inadequacy, and Fiscal Constraint: The Case of Thailand

By Phitawat Poonpolkul, Ponpoje Porapakkarm & Nada Wasi We use an overlapping generations model to study the challenge in developing countries with a large informal sector and aging populations. We use Thailand as a case study and incorporate its labor market structure and its public pension system into the calibrated model. Unlike developed countries, workers in developing countries commonly transit from the formal sector to the informal sector, which can be in the early stage of their working life. This...

April 5, 2023

Adequacy, Aging, Articles2023, Informal Sector, savings, Social Protection, Social Security, Taxation, Thailand

03MarMarch 3, 2023

Pension Provision in Thailand

By Robert Palacios & Himanshi Jain This report documents the current state of pension provision in Thailand and options for reform that would increase the adequacy and sustainability of the pension system. While the focus here is on income support, the welfare of the elderly depends on many other government policies ranging from labor market policies to aged care and health services. It is also important to assess the pension system in terms of its broader impact on fiscal sustainability...

March 3, 2023

Books, Books, System Characterization2021, Informal Sector, Labor Market, Pension design, Social Protection, Thailand

02MarMarch 2, 2023

Thailand. Political parties grapple with funding constraints for pension plans in run-up to general election

“Thailand will be a full-fledged aging society this year, as citizens 60 years old and above will represent 20 per cent of the total population,” said Worawan Plikhamin, deputy secretary-general at the National Economic and Social Development Council (NESDC), a state-run think-tank. Senior citizens will comprise 30 percent of the country’s population in 2037, making the country a super-aging society. The rising number of senior citizens offer both opportunities and challenges to the country. On the business side, there is scope...

March 2, 2023

NewsAdequacy, Aging, Public Pensions, Thailand

March 2025

Thailand. Social Security Board approves fairer pension calculation

November 2024

APG, AIA Thailand turn climate risk into investment opportunity

June 2024

Thailand becomes first South-East Asian country to legalise same sex marriage

Thailand pension fund GPF studies asset allocation to seek resilient traits, report says

March 2024

Thailand raises alarm on aging population, declining birth rates

April 2023

Retirement Savings Behaviours and Covid-19: Evidence from Thailand

Thailand: Pensions and Farmers’ Subsidies Top Election Agenda

March 2023

Thailand. Political parties grapple with funding constraints for pension plans in run-up to general election