Finance Ministry plans to raise retirement pensions


BANGKOK, Dec 29 — Thailand’s Ministry of Finance will ask the cabinet to raise pensions for retired civil servants.

Comptroller General Manas Jamveha said he proposed the pension rise to follow the recent salary increase for government officials. The rise could be done through an increase in the cost-of-living allowance or a direct rise of pensions.

The request could be submitted to the cabinet tomorrow, Mr Manas said.

It was reported that Rangson Sriworasat, permanent secretary for finance, supported the rise to take retroactive effect from Dec 1 and it would cost the state Bt3.85 billion annually.

About 533,000 pensioners will benefit from the hike.

Traditionally a salary increase for pensioners followed a pay rise of government officials.

Earlier the cabinet approved the 4 per cent salary rise for 1.98 million government officials and their increases took effect on Dec 1. The increase costs the state Bt22.9 billion.