So the government is doing nothing except implementing a super fund for people that should have been done years ago and the majority of the already elderly population and worse those who don’t work for a company will get nothing.

   And of course the government will tax the <deleted> out of the superfunds. Add to that on a working wage of maybe 300 baht a day you could work from when you were 15 till 65 and it wouldn’t be enough to see you through your retirement years.

   So for example if you manage to pull down 15000 baht a month and manage to fluke the top rate at 10% and you work all year every year for 50 years you still won’t even make a million baht. 

Despite all the criticism, I really hope it will come true and that it won’t be pilfered. My wife is currently working for an international company and they have nothing for her. No social security, no pension plan and no salary increase in the last two years while the foreigners there keep getting 2-5k a month salary increases every year. If I am not there my wife will have nothing left in her old age. 

As far as I am concerned, better to try something like this and pray it works than stand by and do nothing. I am not a fan of the PM and this country’s heads of state at all… but driving from Bangkok to Pattaya and Banchang has become a lot easier despite everyone saying that the motorway would never be finished because of corruption. 

I really hope this can work.

Thailand’s Social Security includes a pension plan, and there are some (extremely) small government pensions for those that have very little.

Good to see some additional retirement savings plan coming up, so it’s not only for those that have surplus to set aside in personal retirement funds. Hopefully the new plan will be as a fund with life long payouts generated from the gain, that has shown very successful in a number of other countries.

A major problem with a government’s general retirement payouts is that the income tax increases – if retirement payouts are not from a fund, then it’s the taxpayers that pays for it – sometimes I wonder if those complaining about too small government support for the elder, are the same as those complaining about the level of taxation…