Retirees Suffering From Debt Problems Throughout The Kingdom

Life in Thailand can be difficult for many nationals, especially after retirement age. Recent surveys have suggested that many retirees, do not have an income capable of supporting them, through the latter years of their lives.

Indeed, many are in crippling debt situations, with less money coming in than they are paying out.

The problem allegedly effects half the population.

The survey, which was conducted by the National Institution of Development Administration and the National Credit Bureau, discovered that 45% of those who took part, were on the breadline.

Two thousand people who responded to the survey, were said to have a monthly income of under 27,000 baht compared to their expenses of around 22,000 baht.

Thirty-five per cent were found have as low as 10,000 baht per month coming into their household.

Debts, mainly for consumer goods or former business ventures, were found to hampering many of those surveyed.

Many people who fall into to age of retirement bracket, do not have any savings of note and some rely heavily on their children to send money home every month.

It was also revealed that debts are often incurred when the population is of a young age and that the burden of monies owed, never eases as they age.

Source: Bangkok Post