Retirement Income & Annuities

Dhipaya Life Insurance Public Company Limited has launched two life insurance products, Aomsin Annuity The Series and Aomsin Endowment The Series, to serve the aging society and modern retirement planning. Aomsin Annuity The Series is the first in Thailand to allow policyholders to adjust the age at which they begin receiving their annuity and the age at which annuity payments end, up to two times before age 59, with premiums remaining unchanged. Policyholders can choose monthly or annual annuity payments, with four payout period options: starting at age 60 or 65 and continuing until age 85 or 90. Annual annuity payments reach as high as 33.5% of the sum insured under the 85/65 plan, or total annuity payments of up to 780% of the sum insured under the 65/90 plan. No medical examination or health questionnaire is required, and premiums can be deducted for tax purposes up to 300,000 baht. Aomsin Endowment The Series is a 60/10 savings-type life insurance policy with premiums paid for only 10 years. Policyholders receive 10% of the sum insured every year from the 11th policy anniversary through the 59th year, and a lump sum of 1,000% of the sum insured upon reaching age 60. It also allows a tax deduction for general life insurance premiums of up to 100,000 baht. Nopporn Boonlaphop, Chief Executive Officer of Dhipaya Life Insurance Public Company Limited, said the company is focused on developing products that align with Thailand's transition into a fully aged society and a super-aged society, and that several more series of products to serve the aging society will follow. Those interested can inquire at any Government Savings Bank branch or the GSB Contact Center at 1115.

US annuity sales set a first-half record of $228.7 billion, up 1% from the prior-year period, according to LIMRA. Total second-quarter annuity sales reached $121.2 billion, up 2% year over year, the 11th consecutive quarter above $100 billion. Within that total, registered index-linked annuity sales rose 22% to $23.3 billion, traditional variable annuity sales jumped 24% to $17.7 billion, and single-premium immediate annuity sales hit a record $4.1 billion. The broader life market showed similar momentum, with S&P Global Market Intelligence reporting US life premiums up 7.7% year over year in the second quarter and individual life premiums up 4.1%, while LIMRA said the individual life policy count rose 8%. Against that backdrop, Zacks named Prudential Financial, Principal Financial Group and MetLife as three life insurers to watch, each carrying a Zacks Rank #3 (Hold); Prudential posted $3.6 billion in retail annuity sales in the second quarter, Principal reported transfer deposits of $9 billion, up 30%, and MetLife's Retirement and Income Solutions segment generated $377 million in adjusted earnings.

Japan's population aged 100 and over has surpassed 100,000 for the first time. The Ministry of Health, Labour and Welfare said that as of September 15, 2026, the number of centenarians rose to a record 107,677, up from just 153 when records began in 1963 and about 10,000 in 1998. Women make up roughly 88% of all centenarians. United Nations estimates indicate that in 2026 there were about 672,000 centenarians worldwide, with Japan clearly having the largest number of any country. The increase is putting pressure on Japan's fiscal position, since about one in three people, or roughly 40 million, receive state pensions. The ministry has proposed a budget of about 33.7 trillion yen, or 218 billion dollars, for pensions and medical services in the next fiscal year, accounting for nearly a quarter of the roughly 143 trillion yen in total budget requests from all ministries. At the same time, Japan continues to face a declining number of births, with the fertility rate falling for a tenth consecutive year in 2025 and hitting its lowest level since data began in 1947. The number of births was about 671,000, compared with about 1.59 million deaths in the same year. The government estimates that in 2026 the country will need about 2.4 million elderly care workers, up from about 2.1 million in 2024, and is increasingly relying on foreign labour. The number of foreign care workers under the skilled worker visa programme was about 66,000 last year, and the government plans to admit up to 160,700 workers under that framework and a new foreign labour programme.

A 72-year-old who moves the full $210,000 lifetime QLAC premium cap into a qualified longevity annuity contract before year-end can reduce next year's required minimum distribution by roughly $7,900. Under SECURE 2.0, the lifetime QLAC premium cap is indexed for inflation and sits at $210,000 per individual for 2026, and dollars moved into a QLAC are carved out of the IRA balance used to compute the following year's RMD. Because the IRS Uniform Lifetime Table assigns a divisor of 27.4 at age 72 and 26.5 at age 73, dividing the $210,000 by 26.5 cuts the required withdrawal by about $7,925, which for a retiree in the 22% federal bracket trims federal tax on the RMD by roughly $1,740 for the year. The tradeoff is liquidity: QLAC funds generally cannot be withdrawn as a lump sum, cannot be reallocated, and do not participate in market gains, and income must begin no later than the first of the month after the 85th birthday, with every dollar taxed as ordinary income when received. Insurers set QLAC income quotes using long-dated interest rates and mortality assumptions, and the 10-year Treasury yield closed at 4.95% on September 10, 2026, up from 3.97% on February 27, 2026, while the federal funds target upper bound stood at 3.75% as of September 12, 2026. The strategy best fits retirees with surplus IRA assets, other liquid savings, family longevity, and income high enough that shrinking RMDs meaningfully reduces taxes or IRMAA exposure.

The Chairman of the Stock Exchange of Thailand (SET) revealed that it is awaiting the government to provide clarity on proposing key measures to the Cabinet, including the Thailand Individual Savings Account (TISA) project, allowing multiple-class share structures (Dual-Class Shares), improving trust laws, and supporting BOI-promoted companies to list on the stock exchange. For TISA, the principle has been proposed, but it awaits details on the amount and tax impact from the Ministry of Finance, which may cause delays, but clarity should be expedited this year. For Dual-Class Shares, the draft law is complete and is being submitted through the Ministry of Finance and the Cabinet to provide more flexibility for private and foreign companies to maintain control over their businesses. Meanwhile, the trust law previously passed Parliament but was dropped at the Council of State, so it needs to be dusted off to support an aging society and attract massive funds back to the country, as well as to push for amendments to the Civil and Commercial Code regarding incapacitated persons. Regarding the BOI to IPO policy, the SET has discussed with BOI to enable promoted companies with high potential to access the capital market faster, even if they do not yet have significant revenue, by considering their potential and business plans. They are also discussing additional incentives, such as tax or extended timeframes, which, if implemented, would increase the number of quality companies and liquidity for the Thai stock market.

AXA Hong Kong and Macau has launched GBA EverGuard Medical Insurance, a comprehensive medical protection plan designed to meet rising demand for cross-border healthcare in the Greater Bay Area. The plan offers full cover for hospitalisation, surgery, and non-surgical cancer treatments in the Chinese mainland, with no itemised sub-limits, and provides flexibility for designated illnesses or major surgeries to be treated in Hong Kong, Macau, or Taiwan, subject to a 20% coinsurance. It also includes enhanced Traditional Chinese Medicine treatments, rehabilitation support, and access to AXA Health Concierge for cashless arrangements and healthcare navigation. The launch follows an AXA-commissioned survey of 600 Hong Kong residents, which found that 68% have received medical treatment in the mainland, with 87% worried about treatment costs and 88% concerned about long waiting times in Hong Kong. The plan guarantees renewal up to age 100 and includes value-added services such as a complimentary medical check-up every three years of no-claim.

Insurers have already told Wall Street which Medicare Advantage plans will end on December 31, 2026, but members will only learn by mail, with nonrenewal notices due by October 2. Humana confirmed that its 2027 plan exits will affect approximately 600,000 members, while UnitedHealth Group expects Medicare Advantage enrollment to decline by about 1.1 million. These terminations open a rare guaranteed-issue Medigap window, but only for members returning to Original Medicare, not for those switching to another Advantage plan. With Medicare Open Enrollment closing December 7, members should save the notice and price both coverage paths immediately, as Medigap premiums can range from $150 to $250 monthly, while a $0-premium Advantage plan may have an out-of-pocket maximum up to $9,250 in 2026.

Muang Thai Life Assurance has launched MTL Health Services under the concept "Treatment, No Need to Find a Way Alone," to elevate its role from a protection provider to a customer care assistant in the era of longevity. Mr. Sara Lamsam, Chief Executive Officer, said that this service helps take care of customers at each stage of treatment through services such as MTL Cashless Claim, MTL Health Buddy, MTL Smile Hospital Network, and Pre-authorization, as well as connecting Cashless Claim through the iClaim system with over 400 government hospitals nationwide to increase access to treatment options. The company emphasizes that health and finance go hand in hand. For example, if an insured person receives cancer treatment in a hospital within the MTL Smile network, they will receive Extra Coverage, increasing the coverage limit by an additional 20%, such as from 5 million baht to 6 million baht, and extending room and physician fees to 365 days. Meanwhile, MTL Health Buddy helps recommend specialists and reduce excess expenses, along with Pre-authorization service to plan treatment. The company has a network of over 980 healthcare facilities nationwide, and Claim Anywhere service through MTL Click or branches, as well as MTL Global Connect for international claims, and 24-hour SOS emergency service.

OCEAN LIFE Thai Samut Life Assurance has launched its first new pension insurance products, 'Ocean Life Love Retire' and 'Ocean Life Senior Retire 99/5', which are tax-deductible. They offer an initial pension payout of up to 30% to build a lump sum for retirement. Mrs. Nusara (Assakul) Banyatpiyapoj, Chief Executive Officer and Managing Director, said these products cater to both those who start saving during their working years and those planning for post-retirement. Love Retire offers three plans: 90/5, 90/55, and 90/60, allowing policyholders to choose short or long premium payment periods and receive annual or monthly pensions until age 90. The pension increases with age, up to 24% per year during ages 81-90. Senior Retire 99/5 is for ages 46-65, with only 5 years of premium payments, an initial pension of 30% at policy year 10, and a maximum pension increase of 36% per year during ages 90-99. Both products require no medical examination, and premiums are tax-deductible up to 300,000 baht.

Pictet Wealth Management states that the global investment landscape is transitioning to a new economic regime, shifting from an era of excess savings to competition for capital, driven by aging societies, the AI megatrend, and geopolitical risks. This will keep long-term bond yields elevated, and 3% inflation may become the new normal. Pictet also notes that if the 10-year U.S. Treasury yield approaches 5%, bonds will once again become a major competitor to equities. Meanwhile, AI will help reduce inflation in the long run, and emerging markets are no longer dependent solely on China. Countries playing key roles in the AI supply chain, such as South Korea, Taiwan, Malaysia, and Thailand, will be new engines of growth. Pictet advises shifting focus from chasing returns to quality assets, emphasizing value stocks and businesses with strong cash flows, accumulating government bonds and investment-grade corporate bonds, increasing exposure to Asian and emerging market equities, and holding gold as a hedge.

Bloomberg reports that Taiwan's population may decline to about 12.15 million by 2075, a drop of roughly 48% from 2026 levels, amid a continued decrease in births and young population, while the number of elderly rises significantly, posing long-term challenges to the labor market, economy, and defense capabilities. Estimates from Taiwan's National Development Council (NDC), based on household registration data, indicate that the working-age population will shrink by nearly two-thirds over the next 50 years. By 2075, the population aged 0-14 will be only 585,000, the working-age population (15-64) will be about 5.13 million, and those aged 65 and above will reach 6.43 million, meaning the elderly will outnumber the working-age population and account for more than half of the total population. These figures reflect risks after the population peaked at 23.6 million in 2019, and could also affect Taiwan's security, as the military still relies partly on conscription amid threats from China.

The Securities and Exchange Commission (SEC) is moving forward with upgrading provident funds (PVD) under the concept of "save early, save more, save wisely" to ensure members have sufficient retirement savings. As of December 31, 2025, the total value of all PVD funds exceeded 1.6 trillion baht, with over 3.1 million members across 349 funds and more than 25,000 employers. However, over 95% of members have an average PVD balance of only 1.5 million baht upon reaching retirement age, which is below the minimum required retirement savings of 5 million baht, and 69% contribute less than 2,500 baht per month. The SEC is currently amending the PVD Act to introduce automatic enrollment, provide flexibility for members to temporarily suspend contributions, and enhance the PVD Individual Statement as a financial planning tool. The new regulations are expected to take effect in 2028.

Costco is making its first major move into Medicare by partnering with nonprofit insurer SCAN Health Plan to offer Costco-branded Medicare Advantage and Supplemental plans. SCAN Group CEO Sachin Jain said the partnership aims to simplify the Medicare experience for older adults, leveraging Costco's strengths in pharmacy, vision, and hearing aids. The plans will initially launch in two states for Medicare Advantage and one state for Medicare Supplemental, though specific states and product details are not yet disclosed due to federal regulations. Jain noted that 70% of SCAN members are already Costco members, and the partnership seeks to provide transparent, reliable benefits. SCAN, which has around 460,000 members across six states, is uncertain about new member numbers but believes the partnership could transform the Medicare Advantage landscape.

Costco is partnering with nonprofit insurer SCAN Health Plan to offer Costco-branded Medicare Advantage plans in two states and a Medicare supplement plan in a third state, pending regulatory approval. SCAN already operates Medicare Advantage plans and serves nearly 460,000 members across six states. The companies are also looking at integrating the plans with services Costco already offers, including a revamped pharmacy experience, over-the-counter benefits, and audiology services. CEO Ron Vachris said selecting SCAN as a partner to deliver a better healthcare experience for seniors is an extension of Costco's commitment to members. The move could deepen Costco's relationship with older Americans and give them more reasons to keep their memberships.

Siam Commercial Bank has joined with Thewa Insurance to launch a new travel insurance product on the SCB EASY application, extending coverage up to age 80 to support an ageing society. The new product comes in two forms: Easy Global Trip for overseas travel and Easy Sabai Trip for domestic travel. Key features include coverage for older customers, the option to add coverage as needed, and purchase through the app with an electronic policy issued immediately. Customers who buy Easy Global Trip between 15 August 2026 and 31 October 2026 will receive a Central e-Voucher.

Lawmakers have introduced legislation to eliminate the first two income-related Medicare premium surcharge tiers that now affect nearly 10% of beneficiaries, up from the original top 5% target. The Kean-Kim Medicare Premiums Reduction Act of 2026, sponsored by Representatives Tom Kean Jr. and Young Kim, would remove surcharges for single filers earning between $109,000 and $171,000 and joint filers between $218,000 and $342,000, saving married couples up to $5,784 annually. A separate bill, H.R. 3007 from Representative Kevin Kiley, would create a one-time lifetime exclusion for capital gains from the sale of a primary residence from IRMAA calculations. The surcharge acts as a cliff, so earning just $1 over the threshold triggers the full year's premium increase, and mandatory retirement distributions at age 73 can push retirees over the line. The legislation faces funding challenges because eliminating the lower tiers would reduce revenue for the Medicare Supplementary Medical Insurance Trust Fund.

According to an announcement by the Japan Pension Service, public pensions will be revised upward for the fourth consecutive year in fiscal 2026, with the national pension revision rate at 1.9 percent and the employees' pension at 2.0 percent. As a result, the full national pension benefit will rise by 1,300 yen per month from the previous year to 70,608 yen per month. The average benefit including the employees' pension will be 150,289 yen per month, with men receiving 169,967 yen and women 111,413 yen, showing a large gap by gender. Materials from the Pension Bureau of the Ministry of Health, Labour and Welfare show that among employees' pension recipients, about 49.8 percent receive 150,000 yen or more per month. In addition, the latest financial review showed for the first time that the macroeconomic slide will ensure the sustainability of the system and that real pension amounts are projected to increase for younger generations.

Allianz Ayudhya Assurance has launched My Prime Legacy Ultra A99/6, a life insurance plan with a six-year premium payment period and coverage up to age 99. The sum assured starts at 10 million baht and can go up to 300 million baht, with the opportunity to receive dividends. The product targets customers who want to plan for wealth and legacy transfer, especially high-net-worth individuals, family breadwinners, and business owners who need to prepare a lump sum for their family or business succession. If the insured dies, the beneficiary will receive the highest of 100% of the sum assured, 101% of total premiums paid under the conditions, or the policy surrender value, plus the opportunity to receive dividends in the event of death from policy year 6 onwards. If the insured survives to the maturity date at age 99, they will receive the higher of 100% of the sum assured or 101% of total premiums paid under the conditions, and may also receive dividends at maturity. Policyholders can borrow up to 50% of the policy surrender value at a fixed interest rate of 4.5% per year. Applicants aged 18 to 70 with better-than-standard health may receive a 10% discount on premiums paid, while policies with a sum assured of 20 million baht or more receive an additional 5% premium discount.

Muang Thai Life Assurance Public Company Limited, or MTL, has upgraded its cashless health insurance claim service through a contractual credit system in partnership with Whiteplai Company Limited, the provider of the iClaim system. More than 400 public hospitals nationwide are now connected to the system, covering both outpatients and inpatients. Sara Lamsam, Chief Executive Officer of MTL, said the collaboration helps customers avoid preparing cash or credit card limits in advance and reduces the process of collecting documents for later reimbursement. The network is also being expanded through the MTL Smile Hospital Network project to major regional and provincial hospitals such as Lampang Hospital, Khon Kaen Hospital, and Hat Yai Hospital. Dr. Sopon Mekthon, Chairman of Whiteplai, said digital technology will connect operations between healthcare facilities and insurance companies, from eligibility checks to claim submission, increasing public access to government services and premium clinics more conveniently.

From April 2026, the threshold for suspending old-age pension benefits for working elderly has been raised from 510,000 yen to 650,000 yen per month, easing pension reductions for seniors who receive employees' pension while working. According to the Ministry of Health, Labour and Welfare's fiscal 2024 overview, the number of people aged 65 and over who work while receiving employees' pension reached 3,444,000, an increase of 215,000 from the previous year. Under the new standard, if the combined total of salary and employees' pension is 650,000 yen or less, the full pension is paid. For example, in a case where monthly salary is 460,000 yen and pension is 100,000 yen, totaling 560,000 yen, the pension was reduced by 25,000 yen per month before the revision, but after the revision there is no reduction, allowing the person to receive 300,000 yen more per year. Financial planners explain that this revision expands work options for the elderly.

Abacus Global Management reported second quarter 2026 results that exceeded its own guidance, with total revenue of $73.0 million, up 30% year over year, and adjusted net income of $27.1 million, above the high end of its $24 million to $26 million forecast. Adjusted EPS was $0.28, up 22% from $0.23 a year earlier, and adjusted EBITDA rose 27% to $39.9 million. The company's Life Solutions segment drove growth with revenue of $65.4 million, a 38.3% increase, while longevity fund inflows reached $544.2 million in the first half, surpassing its $500 million target. Management provided third quarter guidance of $26 million to $28 million in adjusted net income and reiterated full-year adjusted net income of $100 million to $106 million. The company also announced the launch of its first registered interval fund, the ABX Longevity Growth and Income Fund, and a $53 million minority investment in Manning & Napier.

The Thai Life Assurance Association has said life insurance premiums are likely to decline over the long term because people are living longer, but pension and health insurance premiums are likely to increase. Mr. Sara Lamsam, vice president for marketing, said protection, term and whole life premiums need to be adjusted down, while pension premiums must be recalculated because companies have to pay pensions for longer. Health premiums are under pressure from medical inflation averaging 10 percent per year, as well as more deaths among younger cancer patients and higher-cost treatment technology. Mrs. Nusara Banyatpiyaphod, president of the Thai Life Assurance Association, said the co-payment measure has helped people be more careful about unnecessary hospital stays. The proportion of claimants subject to co-payment fell from 4 percent to no more than 1 percent, and it helped slow medical inflation in 2025 from a projected 15 percent down to 10.8 percent. The persistency rate for annual renewal policies stood at 84 percent, accounting for 72 percent of total premiums received, while the insurance penetration rate in the first quarter fell to 3.68 percent of GDP because of product restructuring under IFRS 17 and low interest rates. This has led companies to focus more on participating, unit-linked and protection products instead of savings products with high guaranteed returns. The ratio of policies to population remained stable at 38 to 39 percent.

Sara Lamsam, Chief Executive Officer of Muang Thai Life Assurance Public Company Limited, or MTL, said that the rising average life expectancy of Thai people makes it necessary to focus on Health Span and Wealth Span together, because good health alone is not enough without sound financial planning. This is especially true as the population structure changes, with fewer births and longer lives, which could push the retirement age to 70 or 80. People therefore need to develop skills and knowledge throughout their lives. The life insurance business plays an important role in long-term life planning through more diverse and personalized products, such as Shield Life insurance, which comes in term, whole life, and universal life forms, as well as Muang Thai Flexi Protection, which allows the life sum assured to be converted into medical coverage at retirement age. For the first six months of 2026, total premiums grew about 9 percent, new business premiums grew 7 percent, and unit-linked premiums grew as much as 500 percent in the first five months, giving the company the number two market share in the business.

Thai Samut Life Insurance has launched the short-term savings insurance plan Ocean Life Smart Goal 5/3 to accelerate growth in the second half of the year. Policyholders pay premiums for 3 years, receive annual cash returns of 2.5% at the end of policy years 1 through 4, and receive a lump sum of 310% at the end of policy year 5. Total benefits over the contract can reach up to 320%, with life coverage of up to 300% during policy years 3 through 5. The plan is available to individuals aged 30 days to 75 years, premiums can be paid annually only, and applying is easy with no health declaration or medical examination required. Mrs. Nusara Assakul Banyatpiyapoj, Chief Executive Officer and Managing Director, said the life insurance business still has growth opportunities from an ageing society, rising medical costs, and AI technology that helps develop products and services to better meet customer needs.

The Senior Citizens League projects a 3.6% cost-of-living adjustment for Social Security benefits in 2027, which would raise the average retiree's monthly check by about $75. This forecast, based on July inflation data showing consumer prices rose 3.4% year-over-year, would mark the highest COLA in four years, surpassing the 2.8% adjustment for 2026 that increased benefits by $56. The Social Security Administration will announce the official 2027 COLA in mid-October after third-quarter inflation data is complete. Medicare Part B premiums are projected to rise 3.5% to $209.50 per month in 2027, a smaller increase than the nearly 10% jump in 2026.

A new Bank of America Securities report says wealth generated from a surging stock market is a key factor behind older workers leaving the workforce. The labor force participation rate for workers ages 55 and older fell from 40.3% in February 2020 to 36.9% in July 2026, and Aditya Bhave, a US economist at Bank of America Securities, noted the more than 35% increase in the S&P 500 over the last two years has likely made retirement an easier choice. Bhave added that the S&P 500 has more than doubled since 2020, giving people confidence to retire even with potential market drawdowns. Financial planners confirmed the trend, with one noting double-digit market gains from 2023 through 2025 are giving clients more options, and Bank of America data showed the average 401(k) balance reached $124,250 in Q2 2026, up 15% from a year ago.