Thai society is rapidly aging, with the percentage of the population aged 60 and above estimated to be 20.4% in 2020 and 38.3% in 2050. Despite having multiple social insurance and assistance schemes for the elderly, many groups still find the old-age income provided by these schemes to be inadequate. The different schemes target different groups or sectors of the population, with retired civil servants having their own generous government pension schemes. Public old-age income support is expected to play a more important role in the future as the reliance on children for support decreases. The proposal to limit the Old Age Allowance to only the poor has faced opposition. A researcher has suggested a hybrid solution, where every senior citizen receives a basic allowance, but additional assistance is provided based on meeting certain criteria. The current pension schemes in Thailand are fragmented and lack integration and policy consistency. Reforming the whole system is necessary to provide adequate support and achieve sustainability. A harmonized multi-tiered pension system with portability between public and private systems, as well as strong incentives for voluntary participation, is seen as a potential solution. The civil servants pension also needs to be considered for reform due to increasing costs and financial sustainability concerns.
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