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1.
Provident
Fund Act B.E. 2530
2.
Key Amendment of Provident Fund Act B.E. 2530
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1.
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To
allow resigned fund members to maintain his or her accrued
benefits in the fund for a period stated in the fund
article while these accrued benefits shall share interest
incurred during such period.
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2.
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To
accept the transfer of retirement savings of government
officials under the Government Pension Fund to a provident
fund in cases where the new employer is a private or
state enterprise.
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3.
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To
give provident fund members choices to receive accrued
benefits either as a lump sum payment or an installment
payment after retirement.
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4.
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To
enhance operational efficiency by allowing funds to
be run by multi-investment policy, known as “master
fund,” which supports the “employee’s choice” scheme.
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5.
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To
provide an appropriate vesting standard that is fair
for the funds’ members.
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3. Progress of the Amendments of Provident Fund
Act B.E. 2530
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Aug
2007
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The
National Legislative Assembly endorsed the draft
Act in a preliminary meeting and appointed an ad
hoc committee to review the Act before proposing
to the second round meeting.
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Jul
2007
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The
Cabinet approved the draft Act proposed by the Secretariat
office. The Act is in the process of consideration
by the National Legislative Assembly.
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Jun
2007
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The
Secretariat of Cabinet proposes the draft Act to
the Cabinet meeting.
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Jun
2006
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The
Council of State had passed the draft Act. Currently,
the draft Act is in the process of proposing to
the Cabinet before for the House of Representatives
consideration.
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Feb
2006
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The
draft Act is under the consideration of the Council
of State.
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May
2005
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The
office of the Securities and Exchange Commission
proposed the Amendment of Provident Fund Act B.E.
2530.
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