Legal Development in Elderly Occupational Fund and Self-Reliance

Abstract

   The purpose of the research is to study the law concerning to elderly occupational fund and self-reliance regarding the conditions of guarantors. Relevant regulations provide the way for elderly people borrowing money from the fund. The research uses qualitative research methods with the study from laws, books, articles and documents. The study found that Section 11(3) of the Elderly Act B.E.2003 provides the promotion and support of the elderly in occupation and Section 13 provides for the establishment of an elderly fund. The announcement of the Executive Committee of the Senior Citizen Fund Re: Other criteria and conditions for financial support from the Senior Citizen Fund 2006 Article 3 (4) requires that the elderly applying for an occupational loan must have qualifications and have a credible person as a guarantor approved by the Director.

According to the announcements in the regulations of the Office of Child Welfare and Protection On the qualifications of borrowers, guarantors and criteria for considering loans for individual occupational finance from the Senior Citizens Fund B.E. 2013, Clause 5 stipulates that there must be guarantors of loans with qualifications as specified to the elderly who borrows money is eligible to receive money from the Senior Citizen Fund, such requirements are both conditions and obstacles in term of loans from the Senior Citizen Fund , the refund period of the Senior Citizens' Fund, according to the announcement of the Executive Committee of the Senior Citizen Fund Re: Criteria and Conditions for Financial Support from the Elderly Fund 2006, clause 5 (3), the elderly shall be loaned to finance their individual occupation not exceeding 30,000 baht per person and shall be repaid in installments within a period not exceeding 3 years without interest charge.

Some suggestions include the amendment of the announcement of the Executive Committee of the Senior Citizen Fund Re: Criteria and Conditions for Financial Support from the Elderly Fund 2006 1) the amendment of guarantees in Article 3(4) and 2) the amendment of the period of refund of the Senior Citizen Fund Article 5 (3) to comply with the Elderly Act B.E.2003 and the Constitution of the Kingdom of Thailand B.E. 2560