In a global trend now known as "unretirement," seniors around the world are choosing to return to work rather than slow down — and Thailand is no exception.
Punyanuch Sirisawadwattana, Country Manager of Robert Walters Thailand, expects the trend to gain traction locally within the next two years. With people over 60 now making up 20% of the population, Thailand has officially become an aged society.
Punyanuch believes this demographic is well positioned to help address the challenges of a shrinking workforce by rejoining the labor market.
“That is a group we are actually looking at and talking about today,” she says. “We have a big gap of people working at this level in the corporate world.”
There are several advantages to hiring retirees. Chief among them is their extensive knowledge and experience, which, according to Punyanuch, can contribute meaningfully to an organization. She also believes these individuals can help train and mentor younger employees for future management roles.
Post-retirement workers can also be more cost-effective, as they are often employed on a casual or contract basis. Many are keen to work on short-term projects, offering flexibility to employers.
“Work-life balance is not something they’re particularly concerned about, to be honest,” Punyanuch says. “I’ve spoken to many people who returned to the workforce — and they are super happy working.”
She describes retirees as relatively low-maintenance hires. Unlike their younger counterparts, they don’t need extensive training and can easily “plug in and play.”
From her perspective, virtually any industry can benefit from rehiring older workers, who often “really want to return all the knowledge they’ve built to Thai companies.”
Integrating Back into the Workforce
While Punyanuch acknowledges that retirees may not always be up to date with the latest trends, she doesn’t see ageism as a significant issue — at least not at the senior level.
“We might see bias at the operational level, but not at the senior level,” she says. “You can be younger or older, but if you show that you have the knowledge, you can lead people.”
However, Associate Professor Dr. Auschala Chalayonnavin, Dean of Thammasat University’s Faculty of Social Administration, warns that returning to work isn’t always easy for retirees.
“There are people who are unemployed or fall out of jobs because their skills no longer align with today’s world,” she says, adding that the government should invest in free education to help aging individuals retrain and prepare for the demands of a rapidly changing job market.
At the same time, companies should offer flexible working arrangements to accommodate the needs of the aging workforce.
Major retailers such as Makro and Lotus’s are already implementing such initiatives as part of their corporate social responsibility programs. The “60 Still Good” campaign aims to hire 400,000 elderly workers by 2030, offering flexible hours and health benefits to make employment more accessible.
Meanwhile, Thailand's Labour Ministry is also planning to raise the retirement age from 60 to 65.
Thailand’s Pension System
Despite these promising developments, most of Thailand’s elderly workers remain in the agricultural sector, often in low-paid, labor-intensive roles. This is why Auschala believes that, for many Thais, returning to work is not a choice — it’s a necessity.
According to Krungsri Research, only 5% of Thais over 60 report having enough income to meet their needs and save. Nearly half say they or their families are currently in debt.
“Right now, there are also financial burdens that prevent us from doing what we’d like to do,” Auschala explains.
Although Thailand offers three types of pensions, only one — the Old Age Allowance — is state-mandated. It is available to Thais over 60 but now requires passing a means test introduced in 2023.
Auschala herself contributes 70% of her income to a voluntary provident fund to ensure she receives a pension throughout retirement. Still, she notes, “It’s not enough to cover the cost of living when you retire — and that’s without factoring in future inflation.”
Under the current system, she says it is difficult for the elderly to access sufficient resources to live well, often having to rely on family for additional support. As such, she believes the government should provide pensions that allow older people the freedom to choose their own path in old age.
“If they can have that choice,” she says, “this is what I call ‘living in dignity.’”
