As one of the younger baby boomers, someone who will turn 60 in 2023, I still don't have a retirement plan, let alone enough savings for the winter years of life.
With crow's feet and laugh lines, I'm ready to join the ageing society, which is a hot issue. A lot is being said, but perhaps not done yet, about the greying Thai population.
At the end of February, the government involving six ministries declared it a national-agenda item, following a cabinet resolution to prepare the country for becoming an ageing society. Both public and private agencies will be on-board in raising public awareness and introducing measures to accommodate the changing demographic profile.
According to the National Statistical Office, Thailand will be a fully fledged aged society in 2021, with 20% of the population aged over 60.
Due to an increasing life expectancy, this age group may still be considered in their midlife -- as the 60s are the new 50s.
The notion is supported by active rather than graceful ageing, a global trend that generates an ageless generation, a target market as much as Gen X, Gen Y, Gen Z and Gen Alpha.
Active ageing has been a research topic for Mahidol University's Institute for Population and Social Research. Published in the Journal Of Health Research three years ago, an analysis by the academic institution found that the active ageing level of the elderly in Thailand needs to be increased through policies and programmes geared to maintain good health, extend working lives, promote lifelong learning, and improve economic conditions
Active ageing was one of the topics discussed in an annual public conference titled "Longevity Society: Making Thailand Competitive, Healthy, And Secure", organised recently by the Thailand Development Research Institute (TDRI), at the Centara Grand & Bangkok Convention Centre at CentralWorld.
Using the word longevity rather than ageing comes from a positive outlook on how seniors can lead a healthy and happy life as well as remain productive.
Hiring an older workforce and extending the retirement age are suggested measures to respond to the longevity society. Raising the retirement age should correspond to a longer life-expectancy.
Known for longevity, Japan aims to raise this from 62 to 65 by 2025. For example, the Japan Postal Group Union recently announced a new retirement age at 65 for postal workers in 2020.
Singapore is considering raising both the retirement age, now at 62, and re-employment age, now 67. The latter refers to how eligible employees can continue to work until 67.
Last week, Prime Minister Prayut Chan-o-cha's cabinet approved a regulation to extend the retirement age of 60 for civil servants, who will reach that age in the next fiscal year. The number is still in debate -- possibly 63 or 65 -- with the implementation coming in phases along with amending laws, such as those on pensions and benefits to match the new retirement age.
The TDRI encourages raising it to 65 in both public and private sectors, which will allow the active seniors to contribute to the economy.
The research institute anticipates that hiring older workers will become mainstream. Lifelong learning, however, will be crucial for them to build their competencies amid rapid technological changes.
Employers, on the other hand, will need to redesign the workplace, such as in ergonomics and safety, to accommodate the older employees.
Likewise, infrastructure should support active and healthy ageing. Bangkok is still unfriendly to people in the longevity society, according to the TDRI, which suggests more green space, and easily accessible and safe public transportation systems, which will also benefit other age groups.
Hopefully, the construction of the MRT Orange Line's eastern route will be completed and ready for service in 2023. Then I will hop on a train at Lam Sali station to get to work after hitting 60. Retirement will not be for an ageless generation like me.
Kanokporn Chanasongkram is a feature writer of the Life section of the Bangkok Post.