Cabinet okays early retirement scheme for generals

In a bid to streamline the armed forces and save on the defence budget, the Cabinet has approved an early retirement scheme for senior officials under the Defence Ministry to take effect from October this year, a news source reported on Tuesday.

The campaign will run for three years and is estimated to draw 732 officials (244 per year). It is expected to save around 4.47 billion baht, the source said.

The objective of the scheme is to ensure the armed forces maintain manpower of a suitable size, with a focus on reducing the number of special advisors, advisors, specialists, and operating officers, which comprise high-ranking officials in each unit.

Eligible candidates include officials holding the ranks of colonel, captain, or group captain or higher who are also special advisors, advisors, specialists, or operating officers. They must be at least 50 years of age and have over 25 years of service (excluding double time period).

Qualified candidates will receive a benefit package based on the formula: [5 + remaining years of services] x last salary plus position allowance. The package is capped at 10 times the last salary plus position allowance.

In case there are more applicants than the quota, priority will be placed on position and age, respectively.

Those who retire early can never be reinstated or rehired.

The Defence Ministry will use its own budget of 600 million baht to finance the scheme at 200 million baht per year, the source added.