Following the concerns from the last public hearing in 2017 on the revision of the principles and regulations relating to the provident fund to resolve the issue that members did not have adequate information to understand before selecting their investment policy, SEC had then discussed with relevant departments to revise the details of such regulations, in order for the provident fund members to select their appropriate choice of investment policy, which would result in a sufficient growth of their retirement savings. The revision also made the regulations less of a burden for the investment management companies. 

Now, SEC has drafted regulations covering various topics, such as that investment management companies must present multiple investment policies, which must also be in conformity to the information of the provident fund members, to the provident fund committee, from which the members of the provident fund can then select. The investment management companies must also present a summary of the important information of their investment policy, for the members of the provident fund to have adequate information before investing. The investment management companies must also provide convenient or easily-accessible contact channels for the provident fund members to request advice. Moreover, the proposed revised regulations would abolish certain kinds of reports of the investment management companies, in order for the provident fund committee would be more effectively informed.

Moreover, the drafted regulations are expected to be enforced on 1 January 2019; however, the summary of important information of the investment policies are expected to be accessible to the members on 1 June 2019.

SEC has published the received comments for the draft regulations on SEC website at www.sec.or.th/hearing. The public can also express their concerns and comments on the website, or via fax at 0-2263-6072, or e-mail at sumitra@sec.or.th. The hearing ends on 31 October 2019.