The Provident Fund Act B.E. 2530 (1987) prescribes only the minimum particulars that must be included in the articles of a fund. In addition, the current registration process does not specify a standard format for the articles submitted for registration. As a result, fund articles vary considerably in both form and content. For pooled funds, which are initiated by asset management companies to accommodate multiple employers, the articles of the fund are generally prepared in accordance with the framework set by the asset management company, while participating employers may be permitted to specify additional conditions. As pooled funds continue to grow, with an increasing number of participating employers and employees, it is important that the articles of a pooled fund contain clear provisions that appropriately support participation in the fund and ensure protection of members’ rights and benefits.

As the Registrar of Provident Funds, the SEC recognizes the importance of ensuring that the articles of pooled funds are appropriate to the nature of such funds and provide protection of members’ rights and benefits. The SEC has therefore prepared and published the Guidelines on the Articles of Provident Funds for Pooled Funds to serve as a reference for preparing and revising fund articles. Relevant parties may consider adopting the Guidelines as appropriate to the characteristics of each fund. The Guidelines are intended to promote fund articles that set out clear material provisions and enhance the protection of members’ rights and benefits. 

In addition, the SEC plans to promote and monitor the adoption of the Guidelines. The SEC will conduct assessments of funds that implement the Guidelines and may consider disclosing information on pooled funds that have adopted them in order to encourage the development of fund articles that are clear, appropriate, and focused on members’ best interests.

The Guidelines are available on the SEC website at https://www.sec.or.th/TH/Documents/Rules_ProvidentFund_PooledFund.pdf and on the ThaiPVD website at https://www.thaipvd.com/uploads/document/f237e969-7c19-4e11-af1e-a650ffa78632.