Bangkok: “Bowonsak” has disclosed a policy initiative aimed at extending the retirement age, with discussions scheduled with the Budget Bureau and the Comptroller General’s Department in February. He expressed confidence that the financial implications will be minimal and will not adversely affect the private sector. He noted the urgency of the policy’s implementation, warning that if the Prime Minister adopts a stringent stance, it could lead to the dissolution of Parliament, jeopardizing the success of many policies.
According to Thai News Agency, Deputy Prime Minister Bowornsak Uwanno highlighted ongoing discussions between the Civil Service Commission, the Comptroller General’s Department, and the Budget Bureau regarding the retirement age policy. He emphasized the necessity of the policy due to demographic changes, with projections indicating that in 10 years, the elderly population will outnumber newborns. Currently, the ratio of working-age individuals to elderly is 2:1, but this is expected to become 1:1 in the next decade.
Bowornsak also stressed the importance of not remaining passive, as other countries are already adjusting their retirement ages. He pointed out that focusing solely on promotions within the civil service will not address the broader issue. The policy is essential for managing future budgetary demands, as failure to act could result in fewer civil servants entering the system. Raising the retirement age to 65 would encourage similar adjustments in the private sector, thereby supporting economic stability.
The Deputy Prime Minister further commented on the political context, noting that the success of the policy depends on the timing of Parliament’s dissolution. If Parliament is dissolved by January 31st, as previously suggested, the policy could proceed. However, if political maneuvering delays dissolution until December, it could impede progress. He acknowledged the possibility of the Prime Minister seeking a royal decree to dissolve the House of Representatives, contingent on the political climate.