My son is finishing his 3rd year at a university here in Thailand. In looking at his future, I’ve been wondering what sector of employment he should look toward, i.e., public, private, NGO, international corporation, self-employment, or what and where. His major is immaterial regarding this matter.
Are IRAs (individual retirement accounts) or other savings plans as part of payroll deductions by employers a recognized practice in Thailand? Where might one find an employer who even matches the percent of contribution--at least up to a certain percentage? My thought is that if the employee were left to set up and contribute to his or her retirement account without the employer’s help and implementation, it wouldn’t get done. It would be too easy to skip deposits as well as to dip into and deplete the funds long before retirement.
In particular, do you know if private or public/government universities offer and encourage retirement savings accounts for their employees?
Thanks for your advice.