Pursuant to the Act on Legislative Drafting and Evaluation of Law B.E. 2562 (2019) (the Act), state agencies are required to conduct an evaluation of the effectiveness of laws at least every five years from the date on which the laws come into force, or in accordance with any other cycle prescribed by ministerial regulation, or when any other prescribed circumstances arise. In 2021, the SEC conducted an evaluation of the effectiveness of the PVD Act and the related regulations. Subsequently, in 2023, the SEC reviewed the PVD Act and proposed amendments to the Ministry of Finance to enhance the efficiency of provident funds.

However, as 2026 marks the completion of the five-year period for conducting an evaluation of the effectiveness of the PVD Act as required under the Act, the SEC is required to seek comments from relevant stakeholders and the general public on problems and obstacles concerning the PVD Act and the related regulations, in accordance with the guidelines for evaluating the effectiveness of laws. The comments and suggestions received will be taken into consideration in deciding whether to improve the relevant law and regulations to ensure their appropriateness and alignment with current circumstances, as well as to further enhance the efficiency of provident funds so that they can continue to serve as a savings and investment mechanism for employees to have sufficient savings upon retirement.

The consultation paper is available on the SEC website at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=1194 and on the Legal Hub at https://law.go.th/. Stakeholders and interested parties are invited to submit comments through these websites or by email to thitimam@sec.or.th or pajaree@sec.or.th. The public hearing ends on 2 October 2026.