GPF seeks law change for state fund management, potentially involving Social Security.

Thansettakij•Economy•266d ago

Reader Briefing

The Government Pension Fund of Thailand (GPF) is planning legislative amendments to enable it to manage funds for other government agencies, potentially including the Social Security Fund.

•GPF is pursuing legal changes to manage state funds for other agencies, with a decision expected by the end of 2026.
•The move aims to provide fund management services to government bodies beyond its current 1.2 million members.
•GPF emphasizes its low, actual-cost management fees and strong investment returns, outperforming inflation.
•GPF is also exploring investments in the 'Silver Economy' through pilot projects by late 2026.

Overview

•A decision on key points of the draft law for GPF to manage state funds is expected by the end of 2026.
•GPF aims to start pilot projects for the Silver Economy, such as Senior Complex investments, by the end of 2026.
•GPF is considering managing funds for other government agencies due to the large number of civil servants not yet GPF members.
•GPF clarifies that if it manages other funds, it will only manage the monetary assets, not the benefits.
•GPF stated its readiness to consider managing the Social Security Fund if contacted and legally supported.
•GPF currently has 1.2 million members, while there are approximately 3-4 million civil servants in the system.
•GPF targets investment returns of at least 2-3% above inflation over 10 years.
•In 2025, GPF members received average returns of 5.18%, with some plans exceeding 8%.
•Other government agencies have approached GPF for fund management services.
•GPF's competitive advantage includes managing funds at actual costs, which is significantly lower than general asset management companies.
•The draft legislation will proceed to parliamentary review after key points are concluded.
•GPF plans to initiate studies and actions for Silver Economy investments by the end of 2026.

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Source: Thansettakij (Original)

Key Quotes

N/A

"We expect clarity and the conclusion of the key points of the draft law by the end of 2026, determining its feasibility before proceeding to parliamentary review."

คาดว่าจะมีความชัดเจน และสรุปสาระสำคัญร่างกฎหมายได้ภายในสิ้นปี 2569 นี้ ว่าจะสามารถทำได้หรือไม่ หลังจากนั้นจะนำเข้าสู่กระบวนการพิจารณาของรัฐสภาต่อไป

N/A

"However, we would only manage the funds, not any other benefits."

แต่คงบริหารแค่เพียงเงินเท่านั้น ไม่ได้เข้าไปบริหารสิทธิประโยชน์อื่นๆ

N/A

"If contacted and the law is ready, GPF is prepared to consider it."

หากมีการติดต่อมา และกฎหมายมีความพร้อม กบข.ก็พร้อมพิจารณา

Key Entities

Organization

Government Pension Fund of Thailand (GPF)(กบข.)ℹ️

The Government Pension Fund of Thailand (GPF) is proposing legal amendments to manage state funds for other agencies, including potentially the Social Security Fund, and is exploring Silver Economy investments.

Social Security Fund(ประกันสังคม)ℹ️

The Social Security Fund is a potential recipient of fund management services from the Government Pension Fund of Thailand (GPF) if proposed legal amendments are successful.

Person

Mr. Songphol(นายทรงพล)

Mr. Songphol, likely a representative of GPF, commented on the potential for GPF to manage state funds and its investment strategies.