Employment with a retirement savings plan

[MrBrad]

My son is finishing his 3^rd 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.

[Upnotover]

It's quite normal for employers and employees to contribute to a Provident Fund.  Some more details on this banks website (just as an example).....

https://www.scbam.com/en/pvd

[MrBrad]

40 minutes ago, Upnotover said:

It's quite normal for employers and employees to contribute to a Provident Fund.  Some more details on this banks website (just as an example).....

https://www.scbam.com/en/pvd

Thank you, Upnotover; that's excellent information.

[scorecard]

50 minutes ago, MrBrad said:

My son is finishing his 3^rd 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.

 

I'm aware of one company which has a big operation in Thailand md in other countries:

- Tokio Marine.  (Ignore the 'marine' bit that ancient history.

- Giant in Japan, meets all the very serious continuous tests required to operate in Japan.

- They have a very big office in the Sathorn area of Bkk, in CM and in other big Thai regional centers.

- Plenty of English. Pleasant staff, very helpful, no push. 

- They offer many products including many diverse pension plans. Some quite different in set up to typical western plans. 

- Also car, health insurance plans.