Permanent Secretary of Labour M.L. Puntrik Smiti chaired the commencement of the academic forum on social security for 2017, under the topic of “Thailand’s pension reform” with a special keynote on the pension system under the sustainable economy philosophy. The Permanent Secretary said that 2017 saw a statistic of the senior population reaching 17 percent of the overall population, which would increase to 20 percent by 2021 and to 30 percent by 2036. Within these changes, the government has emphasized importance of the 20-year national strategies (2017-2036) with the vision of Thailand becoming a developed nation with stability, prosperity and sustainability, whereby upholding the royal sustainably economy philosophy to promote savings among the Thai population. The framework is important in support of Thailand becoming an aging society where there will also be a 12th version of the National Economy and Social Development Plan (2017-2021) which aims to improve both national strategies and plans to promote living stability, equality and equal opportunities.
The Permanent Secretary of Labour added that Thailand was fortunate to have royal philosophies and teachings such as the “sustainable economy philosophy” of King Rama 9, as a guideline on working towards an aging society. This is also in alignment with human resource development and the UN’s Sustainable Development Goals, therefore government policy will lead to a higher potential senior workforce to drive a sustainable economy and add value to the workforces’ role.
Information from the Office of the National Economic and Social Development Board showed that 34.3 percent of the senior population were categorized in the below-poverty group. This means that the government must plan to stimulate savings among the people through a systematic pension fund which will reduce inequality. There will also be ancillary laws in support of the initiatives as well as national-level organizations to oversee the fund. Additionally, people will have the opportunity to transfer benefits between funds to provide better coverage for the whole population.
———————————-
Bureau of Public Relations/
Chaninthorn Phettab – News/
Sompob Silbut – Photos/
20 September 2017
