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Journal of Demography

Abstract

The focus of this study is the relationship between membership in savings funds and preparation for old age in the area of physical health among the Thai population aged 50-59 years. Data were taken from the 2011 Survey of Older Persons in Thailand. The sample size for the study was 18,866, and probit regression was employed for the analysis. In this study, it was discovered that the highest proportion of the sample (76%) did not have any savings. About 11 percent were members of mandatory savings funds alone, and another 11 percent were members of voluntary savings funds alone, while 2 percent were members of both types of funds. The results of the analysis showed that 55 percent of the respondents were preparing for their old age in the area of physical health. Membership in both mandatory and voluntary savings funds was significantly related to the preparation for old age in the area of physical health (respondents were asked specifically whether or not they had prepared for their old age in the area of physical health). Membership in both types of savings funds was reported, with an equal proportion of the respondents being members of both the voluntary and mandatory types of savings funds. The government should encourage membership in both mandatory and voluntary savings funds to increase the expectation of future benefits among older adults, and motivate individuals to be physically prepared for their old age.

DOI

10.56808/2730-3934.1309

First Page

1

Last Page

29

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