Impact of the National Pension Fund on the Suitability of Elderly Pensions in Thailand

Wade Donald Pfau () and Vararat Atisophon

Asian Economic Journal, 2009, vol. 23, issue 1, pages 41-63

Abstract: This study combines a traditional hypothetical worker approach with the techniques of stochastic forecasting to provide a better sense about the suitability of the pension system for formal sector private workers in Thailand. With regard to the proposed defined-contribution pension, we find that workers with a 40-year career can only expect a median replacement rate of approximately 13-14 percent of their final 5 years of income. Most of the pension benefits will still likely come from the unsustainable defined-benefit pension system and further reforms will be needed to maintain suitable pensions. Copyright 2009 The Authors. Journal compilation 2009 East Asian Economic Association and Blackwell Publishing Ltd.

Date: 2009
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