Thailand Government Pension Fund to Form Asset Management Unit
The Finance Ministry plans amending legislation to allow the Government Pension Fund (GPF) to form an asset management company to increase returns for members.
Somchai Sujjapongse, permanent secretary for finance, aired the idea at the ministry on the 20th anniversary of the fund, which amounted to 758 billion baht in October last year.
“The finance minister agrees with the plan… We are of the view the GPF is ready in terms of personnel who are able to manage investment in funds,” he said.
GPF members would also be able to change their investment patterns to meet their individual needs. Young members could choose high-risk, high-return investment and older members could select risk-free…
The planned amendment to the GPF law was aimed at developing sustainable savings for the members. The Finance Ministry also planned to increase contributions to the Social Security Fund and expand its management, he said.
Without improvements in people’s savings, the state could face a financial crisis in an era of an ageing society, Mr Somchai said.
Full Content: Bangkok Post
