What is the GPF compensation❓

What is the GPF compensation❓
GPF (Government Pension Fund) is a compulsory retirement savings system for government officials especially. It is one of the compulsory retirement savings systems in Thailand. when starting to save There will be employers or government to help save as well. And the money accumulated each year can be used for tax deduction.
📌 more details
- Savers must accumulate at least 3% of their salary and can request an increase of 12%, but the maximum savings must not exceed 15% of their salary.
- Employer or government will only help increase the contribution at 3%.
- There is also an additional 2% contribution to be used as compensation. This amount is received only when retired and chooses to receive a pension only.
📌 Retirement of civil servants
- Civil servants who have worked for at least 10 years can choose whether to receive the first payment from the Ministry of Finance in the form of a pension or a pension.
- Choose to receive gratuity will receive money from the savings in the GPF by receiving only the savings, contributions and returns from investments in the GPF, but not receiving compensation
- Choose a pension will receive money from the savings in the GPF by receiving only the savings, contributions, return from investments in the GPF Fund and receive additional compensation as well
Currently, GPF has a variety of investment plans to choose from. There are 7 plans to choose from, excluding Map 8, which is a plan that gives members the freedom to allocate their own investment assets. which government officials You can choose your own investment plan at your convenience. and can request to change the investment plan as well
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