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Thai Mandatory Savings Fund May Be Decade-Long Plan.
Byline: Wichit Sirithaveeporn
Oct. 4--Implementing a mandatory provident fund programme covering all employees nationwide could take 10 years, says Chaiyuth Sudhitanakorn, a senior tax expert at the Finance Ministry.
The cabinet last month approved accelerating plans to introduce a mandatory provident fund system starting in 2004, one year earlier than originally targetted.
By 2013, the programme is expected to cover all workers nationwide.
The Social Welfare Fund, a mandatory system funded by contributions from the state, employees and employers, currently covers around 6.7 million workers nationwide, with assets of 150 billion baht.
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