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Greater portability of funds proposed by Thai finance ministry.
Byline: Wichit Chantanusornsiri
Jan. 4--The Finance Ministry plans legal amendments to allow investors to transfer money across savings funds without incurring tax penalties.
Suparut Kawatkul, the ministry's permanent secretary, said the change would help support efforts to build up the country's long-term savings base.
He said that under the 1987 provident fund law, an employee changing jobs could transfer his provident fund assets to another fund.
But provident fund assets cannot be transferred to other long-term savings vehicles such as retirement mutual funds, long-term equity funds or Government Pension Fund savings programmes.
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Source: HighBeam Research, Greater portability of funds proposed by Thai finance ministry.