Pension Plan For Farmers

[Flashermac]

Farmers in the future may benefit from a pension when they reach retirement age, Rice Department director general Charnpittaya Chimplee said on Wednesday.

 

Under a draft bill dealing with the farmers and rice development fund, farmer members will pay about three per cent of their monthly income to the fund and the state will also contribute an unspecified amount. When the farmers retire at the age of 60 or 65, they will have a monthly pension of about Bt4,000.

 

http://www.nationmultimedia.com/breakingnews/Pension-scheme-for-farmers-30239257.html

[King Kung]

I wouldn't trust a Thai government with 3 percent of my annual pay for 30 or 40 years. I also wouldn't trust the government to make promised contributions. Four thousand baht a month is not worth it.

 

Bad idea in my opinion. It'll probably be mandatory.

[Mekong]

Thai Farmer retires THB 4,000 / Month an expat wants to retire THB 80,000 / Month go figure.

[Flashermac]

Thai farmers live with their family when they are too old to work. That's what they've always done, only now they might end up with a little money.

 

But I'm with KK on this. Unless it is mandatory, it won't happen. Not many Thais are willing to give up part of their pay in hopes of something years into the future. (Civil Servants have no choice - it is deducted automatically.)

[cavanami]

Hello.....can you say....USA, Social Security system....take a look at how broke the SS is in the USA!

 

The private Social Security system that the railroad workers have, they get twice the amount!!!

[King Kung]

It's a ponzi scheme wrapped up to look like a gift from the gods. Having said that, I'm not sure SS has failed any of its investors, yet. But they continue to crank up the eligibility age. I doubt the revolving door politics in Thailand would be responsible stewards of a farmer's welfare. Most politicians can scarcely contain their absolute contempt for the little people. They will do nothing unless there's something in it for themselves. Call me cynical.

[StoneSoup]

In my experience, if a Thai is given the following offer:

 

"You have a choice: I will give you 20,000 baht tomorrow, or, you can instead choose to receuve 10,000 baht on the 15th day each month, every month for the rest of your life" - 98% of Thais will take the 20,000 baht.

[cavanami]

I told a Thai, I will give you 10,000 Baht now or I will start with 1 Baht and double it each day and at the end

of the month, I will give you what totaled up...they always want to take the 10,000 Baht...then I grab a calculator

and show them what totals up at the end of the month, like 30,000,000 Baht or something like these :surprised:

[Mekong]

Try 536,870,912. Day 1 is one baht day 2 is 2 so in a 30 day month it would be 2²⁹ 25 days (2²⁴) would be 33,554,432

[Flashermac]

I'll remember that, if Cav ever offers me a job.