3 set the solid methods to achieve the goals 4 write

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3. Set the solid methods to achieve the goals 4. Write down your plans 5. Act per the plans 6. Review and revise the plans to adapt with the situations Earnings After Retirement Most people will earn less or not earn during retirement Earning after retirement may accumulate from: o Social Security Fund o Government Pension Fund {Retirement Mutual Fund (RMF) o Long term Equity Fund (LTF) o Other Investments (in money and capital markets) Techniques to Accumulate More for Retirement o Increase income reduce expenses o Insurance o Tax planning o Non-taxable saving
The Social Security Fund (SSF) The Social Security Fund (SSF) was established under the Social Security Act B.E. 2533 to bring about security and stability of livelihood for Thai citizens. The Social Security Office, established by the Act, has duty to manage the SSF for the best interest of all members. The coverage is divided into seven types: sickness, maternity, disability, death, child allowance, old age and unemployment. Benefit Payouts Benefits paid out to insured persons are of two types: 1. Old-age lump sum paid out under the following conditions: o Insured person had made consistent contributions for less than 180 months. o Cessation of insured status. III. Insured persons are fully 55 years of age. Insured persons making consistent contributions for less than 12 months are entitled to benefits equal to their contributions in case of old age and child allowance. Insured persons making contributions for not less than 12 months are entitled to benefits equal to their contributions in case of old age and child allowance plus interest set by the Social Security Office. 2. Old-age pension paid monthly for a lifetime under the following conditions: o Insured persons had continually made contributions for not less than 180 months. o Cessation of insured status. III. Insured persons are fully 55 years of age. Tax Benefits o Social Security benefits are tax exempted. o Steady saving as it sounds; however, the SSF is unlikely to be a sufficient source of saving if one wants to maintain the same quality of life they are having today after retirement. o Therefore, besides SSF, workers should consider other options such as provident funds and retirement mutual funds for additional sources of security Provident Fund Provident fund ("the fund") is a fund set up voluntarily between the employer and employees. Assets of the fund consist of money contributed by both employer and employees. The contribution to be made by employer shall always equal the rate of the employee’s savings or higher. Therefore, setting up of a provident fund can be regarded as a kind of benefit to motivate employees to work with the employer Government Pension Fund The GPF is designed by combining both concepts of defined benefit and defined contribution.
The government employees will contribute 3%-15% (mandatory contribution of 3%, and voluntary contribution ranging from 1-12%) of their monthly salary and remit to the Fun d as employee’s contribution. The government as the employer, then tops up with an equal mandatory portion of 3% together with another two percent of the pre-reform compensation.

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