Benefit
• 1. Leader of the Government
• 2.Internal government welfare committee.
• 3. Responsible for welfare at the head of Government appointed.
• 4. Who is responsible for the Welfare Committee within.
• 5. Government appointed or assigned.
• 6. Treasurer
• 7. The auditor
• 8. Coordinating government welfare centers.
• 9. The Prime Minister.
Contributions and Benefits Payouts
• Members are required to contribute 3% of their salaries every month; the government, as their employer, adds the same amount to the fund. Termination of membership depends on three conditions: retirement at age of 60, leaving governmental services, or death. Member receives the whole amount if he/she meets any one of the three criteria. At present, fund transfers from the GPF to provident funds are permitted.
Tax Benefits
• Member contributions not exceeding 500,000 baht are entitled to exemption of personal income tax. Benefits received upon membership termination for the reason of old age (retirement at 60 or leaving work at the age of 50) is fully exempted. Officials with a continual employment of at least 5 years are entitled to partial tax exemption.
• Since the GPF is an exclusive program only for government officials, the Fiscal Policy Office of the Ministry of Finance is drawing a blueprint for a national saving plan to provide non-government workforce with retirement saving benefits.
Other benefit
• A key objective in the GPF’s establishment is to provide its members with other welfares and benefits. Shortly after inception, GPF started to initiate new welfare schemes to its members and presently still carries on its mission to offer its members numerous types of welfare and benefit programs.
• With its objective to focus on long-term member benefits, the GPF has set up its member welfare objectives and products / services as follows:
• Reduce cost of living
• Housing Loan
• Education Loan
• Leasing Loan
• Shop and Save
• Insurance
• Increase income
• GPF Bazaar
• Road to Part-time job /Career after retirement
• Enhance happiness
• Travel
• Recreations
• Corporate Social Responsibility