The Finance Ministry aims for 10,000 wealthy elderly to forgo their old-age living allowance this year and let the proceeds be redirected to the needy to provide a better living standard.
Senior citizens who want to give up their monthly living allowance can express their intentions at commercial banks, state banks, district offices and municipalities, Warotai Kosolpisitkul, a policy adviser to the Fiscal Policy Office, said after the launch of a short film to promote living allowance donations.
Those who relinquish their old-age living allowance will be awarded medals. They can also deduct the amount from taxable income at up to 10%.
All elderly Thais are entitled to a progressive living allowance, with 600 baht paid monthly to those aged 60-69, 700 baht to those 70-79, 800 baht to those 80-89 and 1,000 baht to those 90 and older.
The Finance Ministry is pushing efforts to ask affluent elderly to relinquish their monthly living allowance in order to subsidise 4.6 million senior citizens who are also welfare smartcard holders.
The ministry estimates that 1,200-1,500 baht a month is the minimum amount the elderly need.
Thailand has 12 million people 60 or older, about 9 million of whom signed up for the government's sponsored monthly living allowance and 955 of whom had donated their living allowance to contribute to those in need as of February.
The Finance Ministry reckons that 2 million elderly would have to relinquish their allowance in order to increase living allowance for needy senior citizens to at least 1,000 baht a month.
The government earlier approved redirecting 2% of the sin tax to increase the allowance for the needy, but the 4 billion baht derived from the change is insufficient to offer all of them a mere 800 baht a month.
The Finance Ministry spends 70 billion baht a year to provide a living allowance to the 9 million elderly, including the 4.6 million who hold welfare smartcards.
According to ministry data, 90% of the 4.6 million, or 3 million people, are living in poverty and 2 million do not own homes.
The government is offering 300 baht a month in living allowance to the welfare smartcard holders earning less than 30,000 baht a year and 200 baht to those earning more than 30,000 baht a year but no more than 100,000 baht.
