For Thailand, the country remains in the C group, near the lower end of the global index, alongside China, Japan, South Korea, Indonesia, and Vietnam. Thailand ranks 41st out of 52 countries, which is 11th from the bottom.
This year, Thailand’s pension system score improved slightly to 50.6 from 50.0 last year but remains below the global average of 64.5. Thailand made the most progress in the integrity of governance, followed by sustainability, while retirement income adequacy saw a decline.
Within ASEAN, Singapore leads with a score of 80.8 (A), Malaysia follows at 60.6 (C+), Vietnam 53.7, Indonesia 51.0, Thailand 50.6 (C), and the Philippines 47.1 (D), showing that Thailand still lags behind its neighbours in retirement income adequacy, despite improvements in governance.
The report notes that Thailand’s retirement income system consists of four components: a public old-age pension, social security for private-sector employees, voluntary employer-established pension plans such as provident funds, and private savings products.
It further recommends measures to improve Thailand’s pension index, including expanding coverage of occupational pensions, increasing minimum support for the most disadvantaged elderly, reducing public debt relative to GDP, and strengthening regulation of private pension schemes.