GPF calms jitters over sufficient funds | Bangkok Post: business

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GPF calms jitters over sufficient funds

B100bn to be set aside for those opting out

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The Government Pension Fund (GPF), the country's largest pension provider, has soothed concerns it may not have sufficient money for redemption if all its members who applied before 1997 decided to return to the previous non-contribution benefit plan. 

The fund has prepared about 100 billion baht for those members who are qualified to opt out of member status, a Finance Ministry source said, adding that this amount was enough to pay them contributions plus benefits.

The reinstatement of the previous pension benefit plan will not negatively affect the GPF's financial position, said the source.

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