Home | SEC role | Sitemap | Contact Us
Provident fund
 
             The Provident Fund is an alternative saving scheme for retirement widely recognized for more than 20 years, even prior to the enactment of the Provident Fund Act B.E.2530. By law, the Ministry of Finance is in charge of regulating and supervising management of provident funds.

              Initially, the Fiscal Policy Office was appointed as fund registrar. Later on, amendments were made in the Provident Fund Act B.E.2530 and the Securities and Exchange Act B.E.2535, resulting in the stipulation that the Securities and Exchange Commission, which at the time had already supervised and regulated mutual and private funds, was assigned the role of provident fund registrar as of March 30, 2000.

              A provident fund is established under a mutual agreement between the employer and the employees with the purposes of offering fringe benefits to the employees and promoting their savings for retirement. Voluntary contributions range from 2% to 15% on the condition that employer contributions must be equal to or higher than that of the employee. Termination of membership comes about by either one of the following three factors: (1) retirement at 55 or older as stipulated in the governing rules, (2) resignation or (3) death. Upon membership termination, members are entitled to a full amount of benefit package in accordance with the fund article. In addition, portability among provident funds and installment payments are allowed by law.
last updated date 30/04/2553

Copyright @ 2008 Securities and Exchange Commission. All rights reserved. Best view on Internet Explorer 5.0+ and desktop resolution 1152x864
Disclaimer : This website is set up with the purpose of providing news and information to general public and shall not constitute advice made by the Securities and Exchange Commission. The risk of use of information is assumed by the user. As information contained in this website may from time to time be changed, we nevertheless intend to make it at all time correct and up-to-date. In case you find any incorrect information in this website, please inform us at thaipvd@sec.or.th