What is the Retirement Mutual Fund?
To ensure that we shall have secured retirement in our old age, the government allows Asset Management Companies to establish “Retirement Mutual Fund (RMF)” as a vehicle for investors to regularly and voluntarily invest for their retirements. Investing in RMF, the investors shall not only access to stock and bond markets with professional management, but also enjoy several tax benefits as follows; Firstly, at the fund level, all incomes from investment of the fund are tax exempted. Secondly, the individual investors can use their annual purchases of the fund as a tax deduction. The tax allowance is as high as 15% of the annual income but must not be over Baht 500,000. If you have your provident fund, the purchase of RMF and your contributions in your provident fund must not exceed Baht 500,000. Thirdly, the investors can redeem all or part of their funds in RMF with full tax exemption if they sell the fund after 55 years old and regularly invest in the fund for not less than 5 years.
Related Questions
- I held mutual fund shares through a broker or a retirement account. Were these shares included in the determination of whether I am eligible for a distribution payment?
- What role do retirement account investments play in the mutual fund industry?
- WHAT IS A GOOD MUTUAL FUND TO INVEST IN FOR MY RETIREMENT?
