Hi guys,

 

I was wondering if any of the younger folks with work permit pay into a private insurance retirement plan such as those offered by Prudential or Allianz Ayudhya

 

https://www.azay.co.th/en/

https://www.prudential.co.th/corp/prudential-th/en/product-filter-retirement-plan/

 

What do you think of such policies. Do you have confidence that the companies (typically private foreign companies with Thai partners) honor their insurance contracts to farangs?

 

Cheers

Kommissar

Let's put it this way: if, for example, the Pru were to renege on such a contract, it would be their reputation that took the hit, not that of an all-but-unknown Thai firm. 

 

So highly unlikely that the plans won't pay out. 

Incidentally, not typically private foreign companies; publicly listed companies.

Yeah, good luck. I invested in 2. Hansard and Zurich. They take your money, but never make any, but they never miss taking their skim every month whether the fund makes money or not.  One was a 20 year plan, which lost US$20,000 and the other a 15 year, which lost GBP 8,000.  I will qualify this and say I purchased it through an offshore investment company, so if you're being sold on this from one of those guys. Just say NO!

If you search 'Roy Walker Singapore' you will find the guy who was awarded Best Financial Planner in Singapore by the industry body there (in one of the most tightly regulated environments in the world).  Now in Dubai but able to work with residents of most countries, including Thailand.