The Stock Exchange of Thailand (SET) has consistently assisted Thai people in carefully managing their money for a pleasant retirement before Thailand becomes a wholly old society. SET focuses on developing and disseminating financial planning content, catering to the financial management needs of the near-retirement age group, and has recently launched a new campaign called “Happy Money, Happy Young Old,” which aims to help Thais live comfortably and sustainably after retirement.
Soraphol Tulayasathien, SET Senior Executive Vice President – Head of Corporate Strategic Planning Division and Capital Market Sustainability Development Division, stated that the number of senior citizens in Thailand is rapidly increasing, and the country is entering a completely aged society, defined as a country with a population ratio of 60% or higher.
Furthermore, the poll results revealed that the majority of retired Thai people had financial problems, with 54 percent having some retirement savings but the majority of their savings being less than THB 50,000 (approx. USD 1,453), which is insufficient to provide them with a financially comfortable retirement. Most senior citizens still rely on others for their primary source of income and must continue to work to supplement their income. In addition, the survey found that 55% of senior persons still lack financial literacy.
“SET has anticipated significant changes in the Thai population structure, as well as gaps in financial skills and knowledge that must be bridged and improved as soon as possible.” SET has lately launched a special campaign named “Happy Money, Happy Young Old” to encourage Thai people, particularly working groups aged 45-65, to be prepared for retirement with basic financial management expertise. The materials and tools have been developed to focus on proper retirement portfolio allocation sufficient to live comfortably for the rest of their lives, resulting in a happy retirement. Significantly, this campaign is expected to be a vital learning source for everyone who wants to prepare for the future, help improve Thai people’s financial stability, and prepare for retirement, especially as Thailand enters a completely aged society,” added Soraphol.
The “Happy Money, Happy Young Old” campaign offers retirement preparation knowledge in the form of two new SET e-Learning courses (totaling two hours): “Age 50+: Preparing for a Wealthy Life, Welcoming Retirement Day” and “Age 60+: Managing Money after Retirement, Cool Gen.” SET offers a six-hour program with hands-on practice in retirement planning to deepen your understanding. Furthermore, SET will provide a group mentor session for those who want to exchange information and receive assistance from financial planning specialists.
Individuals interested in financial planning and retirement planning can take use of free SET e-Learning, which includes a certificate, at www.set.or.th/elearning and the “SET App” application. For further information, call the SET Contact Center at 66 2009 9999.