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

Wade Pfau and Vararat Atisophon

Asian Economic Journal, 2009, vol. 23, issue 1, 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.

Date: 2009
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https://doi.org/10.1111/j.1467-8381.2009.02003.x

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Working Paper: The Impact of the National Pension Fund on the Suitability of Elderly Pensions in Thailand (2008)
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