Reducing Elderly Poverty in Thailand

World Bank

Reducing Elderly Poverty in Thailand

2012

World Bank

This policy note examines Thailand's programs for preventing poverty among the elderly, and suggests options for improving the effectiveness of these programs. The number of elderly people in Thailand will increase dramatically over the next 30 years, and the elderly already have a higher poverty rate than the population as a whole. Although Thailand currently has a total of eight pension programs, the majority of the benefits go to those who are not poor. In addition, unlike most countries, Thailand lacks a pension and provident fund supervision agency or a consolidated financial institution regulator, and does not appear to have a well-articulated national pension policy. This has led to the development of two major sets of pension programs, with one group sponsored by the ministry of labor and the social security office, and the other by the ministry of finance and the securities commission. These are also supplemented by an assortment of social assistance and community programs sponsored by the ministry of social development and human security and the ministry of interior. This policy note will examine the above issues in more detail and recommend policy options to simplify and coordinate the various pension and social assistance programs aimed at preventing poverty among the elderly, target more spending at the elderly poor, and assure long-term fiscal sustainability.

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AGROVOC Keywords

age distribution agricultural cooperatives bank deposits civil society organizations commercial banks community development corruption debt dependency ratio economic development economic growth elderly expenditure families fertility fraud gender gross domestic product health care health insurance household income income tax inflation informal sector insurance international bank legal status liability liquidity microfinance mortality old age older people pension primary education public education real estate retirement sex social development social protection social security transaction costs volatility vulnerability workforce

Bibliographic information

Other Subjects

Microfinance institutions; Financial crisis; Formal pensions; Informal sectors; Basic benefits; Consumption smoothing; Copyright clearance; Citizens; Beneficiary; Labor force participation; Pension schemes; Social safety net; International best practice; Pension benefit; Elderly persons; International standards; Life expectancy; Inequality; Market securities; Number of children; Defined contribution pension; Elderly people; Contribution payments; Remote areas; Pension account; Income levels; Treasury bills; Pension policy; Old-age; Retirement income; Financial transactions; Social programs; National pension; Pension plans; Labor market; Monthly contributions; Defined benefit; Investment managers; Treasury; Retirement programs; Pension benefits; National saving; Expenditures; Credibility; Equities; Future payments; Labor force; Savings bank; Short-term savings; Poor families; Benefit level; Personal assets; Phone banking; Civil service pension; Reserves; Asset value; Contribution collection; Benefit levels; Government savings; Investing; Income level; Irregular income; Legal framework; Provident fund; Economic crisis; State enterprise; Securities; Individual account; Bank debt; Copyright clearance center; Account holders; Personal income; Dependency ratios; Transparency; Rates of return; Weddings; Remote locations; Family support; Will; Old-age pension; Private pension; Dissemination; Withdrawal; Individual accounts; Work force; Government bonds; Pension regulator; Both sexes; Post office; Annuity; Social pensions; Sexes; Social pension; Voluntary pension; Existing infrastructure; Corporate debt; Disability; Government policy; Pension program; Investment rate; Government spending; Pension systems; Government pension; State bank; Human security; Bank office; Investment opportunities; Policy makers; Contribution rate; Mutual funds; Benefit formula; Investment income; Annuities; Social assistance; Pensioners; Certificates of deposit; Minimum benefit; Provident funds; Aging population; Salary history; Rate of return; Consumption expenditure; National savings; Female; Pension supervision; Family members; Investment management; Pension savings; Pension age; Retirement pension; Debt instruments; Pension system; Pension programs; Population projections; Pension payments; Elderly population; Solvency; Social cost; Transaction; Fiscal constraints; Mutual fund; Pension beneficiaries; Pension cost; Retirement savings; Retirement age; Investment policy; Pension transfer; Fund managers; Pension accounts; Mobile phone; Financial institution; Tax; Exchange commission; Pension plan; Contribution rates; Pension scheme; Worker contributions; Retirees; Political support; Pension fund

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English

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Reducing Elderly Poverty in Thailand

2012

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