Expat Pensions in Bangkok, Thailand
State Pensions
Many people will have state pensions set up before they come to Thailand. This is normally dependent on the number of years worked in your home country. It is rarely adequate.
If you are from the UK, your state pension will not be linked to the inflation rate in the UK, which could have a huge detrimental effect to the actual pension you withdraw whilst in Thailand. If you have worked in the UK for a number of years and want to protect your pension, there is a way of making sure your pension is index linked.
If you are interested, please click here to talk to one of our financial advisors
Private Pensions
Most expats will have little or no pension when they arrive in Thailand. When you are in your own country, the government and your company normally provide contributions to your pension scheme. In Thailand, many companies do not contribute and it is unlikely your government will contribute to your pension whilst living in Thailand.
It is relatively easy to set up a private pension scheme which will look after you whilst you are out here. There are a number of options available.
If you are interested, please click here to talk to one of our financial advisors
If you are from the UK and you have a sizeable pension scheme, there are a number of ways to transfer your pension to a secure place offshore, like Guernsey or the Isle of Man. These offer 90% security for your pension (unlike company pension schemes) and you can reduce your UK tax bill to zero. The type of scheme which will suit you depends on the type of scheme you hold already and your pension circumstances.
If you are interested in reducing your UK tax bill, please click here to talk to one of our financial advisors
For more information on qrops pension transfer
Corporate Pensions
If you wish to look after your staff, there are a number of options out there to set up a provident fund in order to take care of your employees. Usually, you set up a scheme where both employer and employee contribute 5% to the provident fund. The employee then usually has to work at the company for a certain number of years in order to benefit from the pension fund. This way, you attract the best employees and keep them at your company for a longer period of time.
If you want to talk about the corporate pension scheme options, please click here to talk to one of our financial advisors