Benefits to the employee as a member of the Provident Fund
Obtain financial security upon leaving a job, retirement, disability, or death.
Build financial discipline to save through a planned monthly savings scheme
Supplement your own savings with contributions from your employer in an amount equal or exceeding your own personal contribution
Entitlement to 3 tax advantages:
Employees contribution is income tax deductible as incurred up to a maximum limit of 500,000 Baht per year
Returns generated by the fund is not subject to taxes
Entitled to receive a tax-free sum upon retirement according to company's retirement rule (age at least 55 years and having been a member of a provident fund for at least 5 years)
Have savings that is managed by professional fund managers looking after the best interests of the fund
Possess a solid long term financial asset whose integrity is supervised by the Securities and Exchange Commission with whom the fund is registered
Financial support upon retirement that is self-reliant
Is the Provident Fund well safeguarded?
A registered Provident Fund is a legal entity that is separate from the employer and the Asset Management Company that manages the fund. The Asset Management Company operates under strict supervision by the Securities and Exchange Commission. Therefore, the Provident Fund is independent and not liable to service debt or liabilities incurred by the employer or Asset Management Company. As such, a Provident Fund can be regarded as a sum of money which members can be assured to be securely-guarded over the long term.
While segregated from debt or liabilities of the employer, the Provident Fund prohibits the employer from gaining access to the portion of funds belonging to an employee such as from any attempts to settle outstanding sums. The Provident Fund Act affords a high degree of protection to a members money, strictly requiring that payments can only be made payable in the members own name. Payment cannot be diverted to a different beneficiary such as for offsetting debts owed to a creditor or to another individual.
Interested in setting up provident funds with TMBAM as a stable welfare, and an opportunity to expand the choices of investment and customize investment policy for your employees, please contact:
Customer Relation Group Department, TMB Asset Management Co.,Ltd.
32nd Floor, Abdulrahim Place Building
990 Rama IV Road, Bangkok 10500
Phone: 0-2636-1800
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| Disclaimer An investment in a fund involves investment risks. Please read the fund's prospectus carefully before investing.
