Bangkok, February 9, 2016 – The SEC is seeking public comments on draft amendments to several regulations governing provident fund (PVD) management to promote PVD as an effective savings chanel for employees. The revision aims at encouraging employees to save more, save longer, and save smart, to enjoy better quality of life after retirement.
The proposed amendments would require that asset management companies comply with the following key regulations:
1) To provide several investment plans for members to choose from, including a qualified default policy for those without expressed preference;
2) To provide convenient, accessible channels for members seeking investment advice;
3) To provide investment advice on basic asset allocation;
4) To provide a standard fact sheet for fund committees to use as a guideline for selecting a suitable asset management companies and monitoring fund performance;
5) To provide a fact sheet for fund members to choose an investment plan; and
6) To provide information on available choices for post-retirement or post-resignation savings and;
7) To provide more investment options for members whose contribution in PVD exceeds the minimum requirement.
5) To provide a fact sheet for fund members to choose an investment plan; and
6) To provide information on available choices for post-retirement or post-resignation savings and;
7) To provide more investment options for members whose contribution in PVD exceeds the minimum requirement.
The consultation paper is available at www.sec.or.th. Stakeholders and interested parties are welcome to submit comments through the website or facsimile at 0-2263-6333 or email: sumitra@sec.or.th.
The public hearing ends on February 29, 2016.
