The burden of age: why Thailand must prepare now for a growing greying society

[misskit]

With talks on the charter amendment and Prayut Chan-o-cha’s future dominating government and parliamentary affairs, one important issue has been grossly overlooked: that everyone, no matter what ideology he or she is advocating, is ageing in a society that is poorly prepared for it.


The recent news about Thailand’s birthrate hitting rock bottom has been a wake–up call for discussion on social media. With the current birth rate of less than 600,000 per annum, the country will have to alter its strategy if it is to cope with the demographic change.


Even Elon Musk is concerned, tweeting, “We should be much more worried about population collapse”. He is also urging people to have more babies.


Unfortunately, Thailand is contributing to the world’s insufficient population. The country has been in the ageing society since 2005, meaning 10% of the population is already 60 or older.


It has joined Japan and the other 21 countries that are expected to see a 50% population drop by 2100. According to research by the University of Washington, if present trends continue, Thailand’s population will shrink from 71 million to 35 million in 80 years.


With or without Musk’s tweets or news reports, the falling birth rate is alarming and needs attention. Obviously, Thailand has been out of sync for quite some time as the birthrate shrinks and older people live longer.


Over the past few years, warning signs have been increasing around the world. The government has been aware but is woefully unprepared. What’s happening now is no different from what Singapore and Japan faced a decade or so back, but the two nations have been more proactive in handling the situation.


Helping old people does not only benefit them. Being preparedfor the ageing society also helps the new generation. Millennials are reported to be experiencing high-pressure lives, and are plagued with low-paid jobs on temporary contracts, rising housing costs and the financial burden of supporting their ageing parents or relatives.


In Spain, for example, young people are reportedly bearing the brunt of rising costs and strained incomes. An inflation-adjusted study shows that, compared to Generation X (those born between 1966 and 1980) when they were aged 30 to 34, millennials of the same age have reportedly 30 percent lower income. It’s more or less the same In England, where the income of English millennials in their 20s and 30s, is barely higher than “Gen X-ers” when they were at the same age.


In Thailand, the rising cost of living makes it difficult for young people and COVID-19 has made the situation worse. That struggle makes it hard for them to stay afloat let alone take care of their ageing parents.


The government has to prepare to take care of the elderly people despite having much less income because there are fewer workers paying taxes than in the past. While it has set the ageing society as a National Agenda item recently, we need action – and a lot of it – rather than just words. We do already have the “Department of Older Persons” under the Ministry of Social Development and Human Security to handle the task. But that is unlikely to be enough as in 2031 we will become a “super-aged” society with around 30% of the population aged 60 or older.


This demographic change will affect the government’s fiscal burden, especially the rising welfare budget. The government’s facilities are not up to the level of coping with the “aged” society like Japan and Singapore and therefore more must be done. At the same time, Thailand will struggle with fewer workers and taxpayers.


The economic challenges will continue to increase and government must find a way to raise income such as revamping tax structures and increasing the efficacy of tax revenue collection. The country also needs an economic revamp and to rely more on innovative technologies and value-added products and services.


Failure to acquire more income will result in both millennials and the elderly suffering. The country must up its game to generate wealth to fund social support and healthcare before we become a super “aged” nation.


An oft-quoted saying is “we must get rich before we age, not age before we get rich” and that certainly applies here. It is vital that Thailand takes notice and strives to sustain economic growth in the long run to feed dependent populations.


By Veena Thoopkrajae


The burden of age: why Thailand must prepare now for a growing greying society | Thai PBS World : The latest Thai news in English, News Headlines, World News and News Broadcasts in both Thai and English. We bring Thailand to the world

[nidhogg]

They pretty urgently need to up the mandatory retirement age of 60.

[Buckaroo Banzai]

Even Elon Musk is concerned, tweeting, “We should be much more worried about population collapse”. He is also urging people to have more babies.

The main reason people are not having more kids is that they cant afford them.
When I was growing up. my dad worked and my Mom stayed home and took care of the home and us. My Dad made enough for all of us to have a good life and my Mom never worked a day in her life, ( outside the home, plenty of work in the house)
...Now both parents have to work to make ends meet, who has time to have kids.

[cyrille]

The main reason people are not having more kids is that they cant afford them.
When I was growing up. my dad worked and my Mom stayed home and took care of the home and us. My Dad made enough for all of us to have a good life and my Mom never worked a day in her life, ( outside the home, plenty of work in the house)
...Now both parents have to work to make ends meet, who has time to have kids.

Some fair observations there.

But when you were conceived, contraception was far less widely available (no offence intended ) And overpopulation wasn't a scourge on the planet.

But mostly...the pill.

Of course Elon Musk wants more consumers.

And people leaving for fuckn Mars.

Generations after he's dead.

[Stumpy]

Now both parents have to work to make ends meet, who has time to have kids

It's not only that BB, many young folks I hear talk say "Why bring a child into this messed up planet". Can't really argue the point. Both my daughters say they have no intentions of having children. I understand.

[cyrille]

Problem is that the brightest and best don't have kids.

The reversible digit turned Darwinism on its head.

Fascinating and very ironic.

[david44]

people leaving for fuckn Mars

A stute as ever, I applied myself, but failed the spelling test in a milky Way on my Samsung Galaxy , I am resigned to work rest and play here amid teh cosmic comments since the MARS BAR

[malmomike77]

^^ having societies that effectively pay people not to work and for every child they have doesn't help the situation.

[Switch]

^Cut welfare benefits, cull the elderly and bring in more young immigrants. Job jobbed.

(Mrs Merkel had a great idea, but did not fully understand the social impacts of mass migration for refugees).

[DrWilly]

They pretty urgently need to up the mandatory retirement age of 60.

Which is really only a band-aid solution, but yes nonetheless.

[malmomike77]

There is nothing to stop people working longer if they are able to work smarter and in a way that is sustainable from a physical and quality of life perspective. The work model we all operate under has changed little since the middle of the last century and there is no reason why it cannot change as is evidenced in some Scandi countries

[Edmond]

They pretty urgently need to up the mandatory retirement age of 60.

Yeah, that is pretty ridiculous.




btw, for foreigners working here (and for Thais), if you've worked here for 15 years before the age of 60 and paid into the mandatory social security fund (or more likely, had it subtracted from your salary every month), you will get a pension of 20% of the monthly average of your last 5 year's salary, per month.


^ Might be of interest to JPPRStumpo. Think he's been based here with a work permit for around that long.

[cyrille]

I see there were a couple of excursions to planet Magon there, piloted by irrelevant relics.

[Edmond]

I see there were a couple of excursions to planet Magon there, piloted by irrelevant relics.

Moi?


I have no idea what or where planet Magon is, or what the end of the sentence means in terms of my informative post, but will agree regardless.

[tomcat]

for foreigners working here (and for Thais), if you've worked here for 15 years before the age of 60 and paid into the mandatory social security fund (or more likely, had it subtracted from your salary every month), you will get a pension of 20% of the monthly average of your last 5 year's salary, per month.

...so, for your average falang uni teacher on B37K or so, that comes to B7,400 a month: two bottles of Johnny Walker Black and a bag of ice...

[Reg Dingle]

Some will be thinking Gold Label and a Ms Soi 13 once a week. Whatever happened to those Lambo dreams?

the brightest and best don't have kids

All those years living in a bird cage tefling in the sandpit, now with no one to take over his wealth but the Thai government, nobody to wipe his arse. Tis a waste of a lifetime and a shame

There is nothing to stop people working longer if they are able to work smarter and in a way that is sustainable from a physical and quality of life perspective

Going bus driving eh?

[Edmond]

two bottles of Johnny Walker Black

It stretches farther once you start injecting it.

[nidhogg]

Yeah, that is pretty ridiculous.




btw, for foreigners working here (and for Thais), if you've worked here for 15 years before the age of 60 and paid into the mandatory social security fund (or more likely, had it subtracted from your salary every month), you will get a pension of 20% of the monthly average of your last 5 year's salary, per month.


^ Might be of interest to JPPRStumpo. Think he's been based here with a work permit for around that long.

I am not 100% sure on this. Social security payment is maxed out at 15k. So, the max payment into social is 750 baht per month. I am not sure if the pension payment is based on actual or theoretical payment. Hoping that it is based on actual salary, in which case i am quids in. But i doubt it....

[malmomike77]

Going bus driving eh?

Nah, me eyesight won't be good enough at at 65

[malmomike77]

and a bag of ice...

can i switch that to a daily 7/11 ham and cheese toastie?

[Edmond]

I am not 100% sure on this.

That would make both of us.

Social security payment is maxed out at 15k.

Might be of interest to JPPRStumpo

Or not.

[cisco999]

...Now both parents have to work to make ends meet, who has time to have kids.

\\




Or as once pointed out, "ya gotta work two jobs just ta stay broke".

[Buckaroo Banzai]

But when you were conceived, contraception was far less widely available (no offence intended )

Later on in life I am sure there were times that my parents wish contraception was more widely available when I was conceived , but at the time I was not a mistake . At least I don't think I was
As many, including you have pointed out that there are many reasons people are not having children. All valid reasons but the biggest one IMO is that people cant afford them, with work there simply is not time. I am convinced that if there was a program that paid women to stay home ,not all, but many women would take the option, and the birth rate would increase accordingly.
There would be unforeseen consequences to such program. This would remove a portion of the population from the employment pool driving wages up but such earning increase would probably be eliminated by the higher cost of production and associated price increases. Another consequence would be a more well adjusted child and resulting adult, better school attendance, perhaps less crime and drug use.
..Not sure what the solution is, Just thinking out loud

[Stumpy]

Might be of interest to JPPRStumpo. Think he's been based here with a work permit for around that long.

Well my situation is a bit complicated. Yes I have been living and working here for quite a few years, however my salary for a good portion of that time was paid in the US and all living expenses paid. To keep the work permit in place I was given a small stipend monthly. However the last 5 or so years I have been paid in Thai Baht and they do take max SS (750 bht) but I have no intention of working for 10 more years. I will have my US SS available when I reach that magic age (assuming I do). One thing that is nice though, when I stop working I do get all that Thai SS back. Might allow me to buy a good bottle and go sit on the beach for a weekend...

Thailand needs reform in its system. They continue to discriminate against people older from being hired as they always want younger people. Many of these folks get pushed into unemployment early and have to become self employed and no way they will have children.

My daughters telling me they do not want children doesn't really surprise me. It's not easy, it's extremely expensive and with both parents working the daycare person raises the child. I grew up like BB. Dad worked, Mom stayed home.

[Bonecollector]

It's not only that BB, many young folks I hear talk say "Why bring a child into this messed up planet". Can't really argue the point. Both my daughters say they have no intentions of having children. I understand.

That would be me, I stopped at two and glad I did; my kids say the same thing. I am literally investing all I make these days to supply them with a better inheritance so they can have more options in the future. I think they should have kids but the days of a 4kid family, like I grew up in, are long gone.

My advice to anyone with young kids. Save all you can for them and leave them as secure as you can. You may think today's world is fucked up, just wait a few more decades. For example, I very much doubt that future generations will live in a world with free healthcare or with many freebies. I have faith in humanity but Noah built the Ark before the rain.