As a result of the baby-boom generation, it is evident that the number of Thai senior citizens will be on an upward trend in the coming decades (from the current 16.5 million people), while the young population will be on a comparative downtrend.
Consequently, Thailand is inevitably becoming an ageing society.
It is advisable that all Thais start making financial plans for retirement.
Providing financial and investment literacy is one of the Stock Exchange of Thailand’s key missions for implementation across the board, from students to the general public, enabling them to get accurate and “first-time right” information on this subject.
The SET continues to encourage career people to be aware of the need for financial discipline, planning and long-term savings before approaching retirement age by continuously providing financial literacy via media channels and training, under the project called “Ngern Thong Tong Wang Phan: The Revolution to Wealth”.
The project’s Thai name means “the money-wise must plan well”.
This project is being held for the second year after the bourse saw overwhelming success with it last year. The key objective of this project is to build awareness of financial, investment and retirement planning for future security, further moving Thais towards an investment culture and sustainable wealth.
This year, the project will focus on first-jobbers who face a long period of investment before retirement.
They have time to accumulate returns from long-term investment to reach the ultimate goal of financial freedom.
The project is being strategically promoted via integrated communication channels, offline and online.
The SET, in collaboration with asset-management and insurance companies, has also provided retirement-planning and provident-funds know-how directly to working people in the private and public sectors.
These include the Bank for Agriculture and Agricultural Cooperatives, the Electricity Generating Authority of Thailand, the Provincial Electricity Authority, the Royal Irrigation Department, Thai Honda Manufacturing Co, and Krungthai Card, to mention a few.
In addition, the SET has expanded such expertise in the “Employee’s choice@workplaces” project, operated since 2011.
Financial literacy is a valuable life skill for everyone and also an essential foundation for building quality investors, paving the way for a sustainable and strong economy in the long run.
For more than a decade, the SET has promoted financial literacy to students at all levels, as well as investors and the general public.
The ultimate goal is to build a strong foundation of financial literacy and to be an educational centre for both the public and private sectors, urging them to deliver literacy to all Thais.
For more information, please visit www.tsi-thailand.org .