A memorandum of understanding was signed on Wednesday by Thai Health Promotion Foundation, Foundation of the Institute for Research and Development of Elderly People and 12 business enterprises to extend the retirement age from 55 to 60.
Labour permanent secretary M.L. Buntharik Samiti who chaired the MoU signing ceremony said that the MoU signing amounted to a declaration of cooperation to extend the retirement age of employees in the private sector from 55 to 60 to herald the advance toward aging society due in 2024 when elderly people in Thailand will represent 20 percent of the population.
Dr Ladda Damrikarnleret, secretary-general of Foundation of the Institute for Research and Development of Elderly People, said the extension of the retirement age of workers in the private sector would not only enable aging people to make a living but would also solve the problem of shortage of skilled labour as the number of young working people tends to drop steadily.
Source: Thai Public Broadcasting Service (Thai PBS)