Thai society is aging fast. The percentage of the population aged 60 and above was projected to be 20.4 per cent in 2020 and 38.3 per cent in 2050, according to the UN ESCAP’s demographic changes report for Asia and the Pacific
While Thailand has multiple social insurance and social assistance schemes to support the elderly, the old-age income provided by these schemes is inadequate for many groups of the population.
The different schemes are in theory targeted at different groups or sectors of the population. The Old Age Allowance (OAA) provides a basic pension for all Thai citizens aged 60 years or older with monthly handouts between 600-1,000 baht, depending on their age.
In comparison, retired civil servants have their own government pension schemes that are considered generous relative to other schemes. The Social Security Office (SSO) Fund is mandated for employees in the…
