Thailand Individual Savings Account will offer different options based on risk tolerance
The Ministry of Finance is scheduled to roll out the Thailand Individual Savings Account (TISA) by September to further promote household savings following the success of the government retail bond programme dubbed “Aom Plus” (Savings Plus).According to Finance Minister Ekniti Nitithanprapas, the ministry aims to finalise the details of the TISA investment framework by September. The primary objective is to encourage long-term savings to ensure individuals have sufficient financial resources for retirement, as the ageing population is growing rapidly.
Currently, around 20% of the population is aged over 60, while the country’s household savings rate remains relatively low.
According to Mr Ekniti, the TISA will differ from previous tax-advantaged investment products such as the Long-Term Equity Fund (LTF), Retirement Mutual Fund (RMF) and Super Savings Fund (SSF).
The new scheme will allow individuals to choose investment options based on their own risk tolerance.
