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SEC is ready to implement cabinet resolution on establishing Super Savings Fund (SSF) which focuses on investment in listed securities



Tuesday 10 March 2020 | No. 48 / 2020


Bangkok, Tuesday 10 March 2020 - SEC has expressed its readiness to implement the cabinet resolution on establishing the Super Savings Fund (SSF) which has the policy on investment at least 65% of net asset value in listed securities on SET, saying that relevant regulations will be issued by 16 March 2020 including a waiver of fund application and registration fees for asset management companies.

At the cabinet meeting on 10 March 2020, the cabinet approved several measures in the first-phase relief package to reduce both direct and indirect impact of the COVID-19 epidemic on the economy. In a move to restore capital market confidence, the cabinet approved an additional tax privilege for people who purchase investment units in Super Savings Fund (SSF) which invests not less than 65% of net asset value in listed securities on the Stock Exchange of Thailand. Investors are permitted to deduct an actual investment amount, but not exceeding 200,000 baht, from annual assessable income as an additional personal income tax allowance, separate from the tax allowance for investment in Super Savings Fund regular, and not subject to the ceiling of the tax-deductible amount applied to retirement-related funds. Purchases must be made between 1 April 2020 and 30 June 2020 and investors must hold their investment units for not less than 10 years. Other conditions shall be made as per the notification of the Revenue Department’s Director-General.

SEC Secretary-General Ruenvadee Suwanmongkol said that the SEC will (1) finalize the regulations establishing these funds by 16 March 2020, (2) waive application and registration fees for asset management companies, and (3) consider approving these funds by an auto-approval scheme.