The Common Secretary of GPF is able to drive the fund to stability. Hoping to create good returns for members To ensure that members to have “Freedom to Dwell,” a contented, worry-free retirement The primary mission is to evaluate the adequacy of retirement funds. and examine choices for receiving types Laying the inspiration for mounted fund administration.
Date: 23 Might 2024 Authorities Pension Fund (GPF) Board Workplace press convention. Revealing the imaginative and prescient of Mr. Songphon Chewapanyaroj Secretary Common of the Authorities Pension Fund (GPF) Board.
Mr Songphon Chewapanyaroj The Secretary Common of the Authorities Pension Fund (GPF) Board revealed that funding managers are capable of safe a return on funding of greater than 3% within the first 4 months of 2024 as a result of a lot of the full funding of 60% has been made overseas. In very secure property, specifically debt devices, and investing extra in commodity property, specifically oil and gold, which assist cushion the chance of fluctuations from geopolitical battle conditions. or warfare effectively whereas investing within the nation 40% in different forms of property It offers higher returns on each shares and debt devices As well as, GPF has invested in actual property. from inns in Phuket, Thai firms exterior the market And actual property funds or REITs additionally present good returns.
For the 2023 efficiency, GPF was capable of generate a grasp plan return of 1.46% (after deducting bills) by benefiting from home and overseas investments in quite a lot of devices. and managers monitor investments carefully
“This 12 months’s earnings must be higher than final 12 months. and is unlikely to be decrease than 1.46%, however has not expanded very excessive As a result of 2-3 danger components nonetheless must be carefully monitored from this 12 months to 2026 with the intention to regulate time period funding methods quick in time. geopolitical battle each Together with the results of the US normal election on commerce. rate of interest and local weather change,” mentioned Mr. Songphon.
GPF has put in place a plan to put the inspiration for fund administration. Driving GPF to be a secure fund. Creates an excellent return on funding in the long run Greater than the ten 12 months common inflation fee plus 2% each year and will increase the extent of belief of members within the GPF in order that members purpose to have “Freedom to Dwell, Pleased Retirement”
“Creating a better fee of return primarily based on a 10-year common inflation fee plus 2% each year as a reference (benchmark) fee in order that GPF members find the money for to spend on retirement. However the amount of cash will rely upon every member’s funding plan. Together with life-style”
The primary mission that might be carried out is to evaluate the adequacy of funds at retirement by including debt variables. The longevity of Thai folks and the adequacy stage of members of every occupational group to be studied additional. Maintain the adequacy stage as present as attainable and use the outcomes of the examine to enhance the GPF funding allocation plan.
That is an estimate of the price of dwelling in retirement obtained from a 2022 survey of GPF members. Those that retired on the age of 60-70 discovered that their month-to-month bills after retirement had been at an satisfactory stage. 17,815-22,615 baht
The second mission is to review and improve choices for receiving different types of compensation for members. The choice to obtain different types of compensation is designed for added financial savings that members have along with the necessary ones. It is because members’ wants for added financial savings could have returns akin to desirous to obtain dividends alongside the best way. Need extra financial savings choices? It might additionally embrace different advantages akin to the fitting to make use of House and Retirement Care companies, and so on., which require a feasibility examine. and associated legal guidelines could must be amended. It’s anticipated {that a} conclusion might be reached inside this 12 months As well as, because of the improve within the aged inhabitants (Ageing Society), it can additionally play a task in enhancing investments sooner or later.
As of 15 Might 2024, GPF has 1.2 million members and manages a complete of 1.35 million baht in investments The federal government pays a 3% contribution to the fund, which is equal to members saving on a fee of three%, whereas there are nonetheless just a few. members who save extra on their very own.
Mr. mentioned Songphon mentioned the GPF will search for alternatives to generate returns to fulfill the wants of members and the growing old society, akin to constructing homes for retired civil servants (Complicated Retirement), which the GPF itself has invested in an workplace constructing. and inns prepared It’s anticipated that this 12 months we can full the funding plan already signed with the funding group for the administration of Brunei Drussalam reserves (Brunei Funding Company: BIA), together with funding within the agricultural sector and industrial. Enterprise for well being Inexperienced vitality enterprise and downstream petrochemical enterprise and can be open to further new buyers.
Nevertheless, presently, the Retirement Complicated restrict has not been set as funding fashions and pointers are being studied.” if anybody is .
Mr. mentioned Songphon that there might be a brand new funding portfolio evaluate this 12 months within the third quarter of this 12 months, which is a evaluate in keeping with the SAA (Strategic Asset Allocation) funding cycle each three years, which might be due this 12 months on the finish of the 12 months After reaching a conclusion, it’s essential to ask for approval of the Ministry of Finance. As well as, we’ll examine methods to extend revenue. Cut back prices for members plus add new funding choices Enter extra members
GPF or Authorities Pension Fund Established in accordance with the Authorities Pension Fund Act, BE 2539 (1996) to ensure the cost of pensions and supply advantages in return for service to civil servants once they depart authorities service. Promote member financial savings and supply welfare and different advantages to GPF members It has the standing of a authorities group established below particular legal guidelines, with out the standing of a authorities company or state enterprise.
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