Thailand. NSF aims to provide sustainable pensions for all
The National Savings Fund (NSF) targets a 10-year return of at least 3% for long-term investment in order to provide fund members with sustainable pensions.
The voluntary retirement savings fund targets informal workers, and currently holds investments totalling 8 billion baht.
Since its inauguration in August 2015, the NSF has registered an average return of 3%, with last year’s return at 4.4%, said NSF secretary-general Jaruluck Ruengsuwan.
Year-to-date return is 1.6% because of the current domestic and international economic slowdown, she said.
To provide NSF members with sustainable pensions that are sufficient for their retirement, as required by law, the average 10-year return of the fund must not fall below 3%, said Ms Jaruluck.
Of Thailand’s 37-million-strong labour workforce, around 16 million are covered by funds related to retirement savings, such as the Social Security Fund, provident funds and Government Pension Fund.
The remaining 21 million are classified as informal workers who are not covered by any retirement savings fund.
Read more @Bangkok Post
