How can the finance director go play golf in Sentosa?
Well, she can. She probably has a good handicap actually! Supplementary retirement plans are very rare and hence the payment of CPF contributions is normally the extent of the company’s responsibility. Back to top Thailand: Land of smiles From 1 April 2002, a company employing more than one person is subject to the regulations of the Social Security Act and must contribute to the Social Security Fund. There is no mandatory retirement age in Thailand, although most companies in the private sector consider normal retirement age as 55 or 60. Under the Provident Fund Act of 1987, companies can set up voluntary provident funds which have significant tax advantages. There are also mandatory termination indemnities whereby an employee retiring with more than 10 years of service is entitled to a lump sum payment of 300 days’ salary. Why can’t the HR director take cooking lessons in Chiang Mai? The government is planning to introduce a mandatory retirement plan in 2008 (see News Flash from the
