Retirement Funds In Thailand?

[Osaka]

Hi guys,

I work in Thailand and receive a reasonable salary but what worries me is that my employer does not provide any retirement schemes. I am still in my early 30s, but will be in the country for a while, and want to start providing for my old days. I have thought of retirement funds, but my search came up mostly with funds operating in the US or Europe, or other countries only, or for their citizens only.

If you are in a similar position (and I know quite a few people who are), I wonder how you have solved the proble. Are there reliable retirement funds in Thailand? Or better, in case I move out of the country later on, are there "international retirement funds" that also operate in Thailand but can make pension payments anywhere in the world?

Cheers!

[GuestHouse]

My advice would be look to your home country first to see what schemes operate there. Many are tax efficient and may offer other benfits not available to savings in Thailand.

My main concern in Thailand would be governance. The governance of retirement saving in the UK for example has gone through years of development and is now a very secure system of saving. I cannot believe that to be true of Thailand.

Alternatively look at saving on the stock market, there are some great mutual funds around that would help you build fund for your pension and many of these do not require 'residence' to participate.

[samtam]

GuestHouses reply is spot on. Check with the big insurance/assurance companies, such as Prudential, Standard life, Scottish Widows, Norwich Union (UK) and whatever the equivalent in USA, if that's where you're from. You are absolutely right to take out your own scheme, even if your employer did provide a pension scheme. I started several when I first begain to work at 18, and one very large one is maturing shortly, and a very welcome supplement it is too.