The Finance Ministry is considering broadening the payment options for members of the mandatory provident fund when they retire, says a source. PATTARACHAI PREECHAPANICHThe Finance Ministry is considering broadening the payment options for members of the imminent mandatory provident fund when they retire, according to a source. The Finance Ministry's reservations on widening the mandatory provident fund's options are mainly because monthly payouts will be low, assuming minimum contribution of 3% of base salary, the source said. The law requires companies with 100 employees or more to match employees' contributions to the fund within the first four years of its enforcement. The ministry estimates it needs 4 billion baht to finance incremental portions to raise the living allowance to 1,200-1,500 baht per person per month.

Source: Bangkok Post April 13, 2017 23:48 UTC