
If that means Bangkokians are spending less money, that’s good news, for themselves and the country.
A report in the Korea Herald last week spooked me a bit. It was about the country’s increasing number of elderly and their financial health. The report was based on a survey by the Korea Institute for Health and Social Affairs, which showed that almost half (48 per cent) of South Koreans aged 65 or older were living below the poverty line.
In South Korea, where decades of extraordinary economic growth have lifted millions out of absolute poverty, the poverty line is defined in relative terms as half the annual median household income. Koreans aged 65 or older accounted for 12.6 per cent of the total population in 2013, and the proportion of the elderly is forecast to exceed 20 per cent by 2026 and 50 per cent by 2100.
Given that the average poverty rate for all Koreans is 13.7 per cent, or about 6.88 million, this means that nearly half of them are elderly and without jobs to support themselves.
What’s even more shocking is that, according to Statistics Korea, fewer Koreans think it is their responsibility to support their ageing parents financially. In 1998, almost 90 per cent agreed that family members should take care of and support their ageing parents. By 2012 that figure had dropped to just 33.2 per cent.
In Thailand we face a very similar situation, posing the very big question of how poorer elderly Thais will support themselves in the near future.
As in South Korea, Thailand’s elderly population is burgeoning. The number of Thais aged 60 or older was 12 per cent, or about 8.4 million, in 2010.
A survey by the National Statistical Office in 2007 showed that only 201,348 individuals in that age group held bachelor degrees or higher. The majority, 4.8 million, had only completed elementary education. Without education, most of them worked in the agricultural sector, earning the minimum wage and barely having anything left over to save.
That helps explain why some 80,000 elderly persons without any social safety net whatsoever flocked to the Social Security Office last month to join the new pension scheme, designed for workers in unofficial sectors and the elderly. Without employers, they are entitled to Bt30-Bt50 from the government for every Bt70-Bt100 they contribute to the pension fund.
Will this scheme remain helpful when the number of Thais aged 60 or older rises to 12.6 million in 2020?
Indeed, this issue deserves attention from policymakers.
In his statement to the National Legislative Assembly in September, Prime Minister Prayut Chan-o-cha, a retired general whose knowledge still helps earn him an income, mentioned policy plans for the ageing society. To safeguard quality of life, there will be assistance for the elderly at home, nursing homes, and hospitals, with cooperation from the private sector, community and families. There will also be a new fiscal system for the elderly.
It remains to be seen whether these plans will be put into action. Right now, all we all know is that all newborns will get a gift. Next in the queue could be the elderly.
For now, I have some sympathy with the National Reform Council and the Constitution Drafting Committee. Both were formed under very unusual political conditions, requiring that their focus is mainly on reconciliation and reforms. Though many of their members are in the right age group, our ageing society has barely had a mention.
Checking the NRC web page – http:/tinyurl.com/k5awumf – which drew 45,656 visitors since October 2, I found just one link referring to the elderly issue. Unfortunately, there was no detail of their discussion.
Might we expect the CDC to assure us that when we grow old, our quality of life will be better?
Well, its web page – http://tinyurl
.com/lot78sh – demonstrates it is busy with more important issues like the minimum qualification for a prime minister, and reconciliation. These do indeed affect all Thais, but I guess they don’t interest all of us, given that the page has attracted only 3,098 visitors since November. I doubt how many people would know if these people consider extending Thais' retirement age.
Apologies if my research seems a bit scratchy. Perhaps it would be better if all the available schemes for the elderly appeared as often on TV and radio as the “happiness” songs.
I, for one, want to learn more about such schemes. No matter what our political scene is in the future, Thailand will still be home to millions of older people. Our situation must not be permitted to slide into what we saw in the 2007 Hollywood movie “No Country for Old Men”.