Japan, Korea 'offer ageing nation tips'

Japan, Korea 'offer ageing nation tips'

Seminar told how Asia pair tackle issue

Japan and South Korea can be models that help shape Thai society over the next two years as it becomes a "complete aged society", a seminar was told on Tuesday.

A recent survey found that over 40% of Thai working adults are not preparing themselves physically and financially for their retirement, Pharani Phuprasoet, who oversees projects promoting healthy lifestyles under the Thai Health Foundation, said at the Digital and Active Ageing in Japan and Thailand event in Bangkok.

In 2017, Thai people aged over 60 years old accounted for 11.8 million, or 17.1% of the total population of 69.4 million.

The figure continues to increase and in 2021, "one in five people in Thailand will be over 60", Ms Pharani said.

The Thai government defines old people as those aged over 60, five years younger than the Japanese threshold, said Kiishiro Oisumi, chief of Japanese association of Thai studies.

But the two countries share a similar trend -- as average incomes rise, the birth rate declines, he said.

A falling birth rate leads to a labour scarcity and, at the same time, the younger generation will shoulder a heavier financial burden towards the care of the elderly, according to Mr Oisumi.

The Thai government is already working on projects to offset the effects of this trend. One is a "Time Bank" concept which has been used in Japan, Ms Pharani said.

Unlike traditional banks, what people deposit and withdraw from this specific bank is time. The bank calculates the way its customers help people in the form of time, which can be kept in the bank for later use. When these people get old in the future, they can "withdraw their time", which means they will receive help from others.

The Thai Health Foundation is working with the Department of Older Persons to pilot Time Bank projects in 42 areas in 28 provinces, Ms Pharani said.

Other preparations for an ageing society were also discussed at Tuesday's seminar.

South Korea has also come up with a solution which is less dependent on state coffers, said Kim Sung-won, a lecturer at the University of Tokyo.

What he called "social welfare centres" were established there in 2006 to help old people who live on small pensions.

The centres, offering necessities and services supported by the private sector in their communities, turned out to be a success, and 454 branches have been set up so far, he said.

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