Thai GPF expands into annuities and insurance

The Government Pension Fund of Thailand is planning strategic acquisitions to become a full-service pensions provider.

The $6 billion Government Pension Fund (GPF) of Thailand, which now manages retirement schemes for civil servants, is about to launch a new, wholly owned annuities business as well as acquire a stake in a global life insurance company in order to become a full-service pensions provider to the entire nation, says Visit Tantisunthorn, secretary general

These moves go hand-in-hand with the GPF's effort to amend its founding GPF Act to allow it to introduce member's choice (a topic explored in the August/September edition of AsianInvestor magazine) The legislation has been approved by the government and is now in parliament In the meantime, the Securities and Exchange Commission of Thailand has granted the GPF an...

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