First legislated in 1987, Thai Provident Funds are voluntary “defined contribution” pension plans intended to help private sector employees in Thailand save for retirement. A defined contribution plan is a type of retirement plan in which the amount of the employer's annual contribution is specified. Each employer can set up its own TPF for employees and hire a professional asset management company to manage it.
No matter what amount their employer is contributing, employees can contribute and deduct the maximum amount allowable—15% of annual wages or THB 500,000, whichever is lower.
When combined with investments in other retirement funds such as RMFs, Government Pension Fund, National Savings Fund or premiums for pension life insurance policies, the total must not exceed 500,000 baht a year.
Thai Provident Funds (TPFs) can be added in GoalsMapper by creating an investment and selecting "Thailand Providend Funds" as the investment type.
You can choose a percentage of your active income you wish to contribute to the funds.
No validation checks will be done on the eligibility of the client to take up the funds.