The SEC places importance on developing PVDs as a key mechanism for promoting retirement savings. A PVD individual statement is an important tool that helps PVD members understand their own investment position and become aware of the adequacy of their retirement savings, which can lead to appropriate adjustments to savings and investment behavior. However, the current disclosure requirements primarily focus on reporting members’ investment positions.

The SEC has therefore studied international standards and practices, including those of the Organisation for Economic Co-operation and Development (OECD) and the International Organisation of Pension Supervisors (IOPS), as well as regulatory approaches adopted in other jurisdictions, and considers it appropriate to enhance the disclosure requirements for PVD individual statements so that they are more comprehensive, clear, easy to understand, and beneficial to members. This enhancement covers both members’ current investment positions and the adequacy of their retirement savings, while supporting the use of online retirement planning tools to raise members’ awareness of retirement savings adequacy and make more appropriate decisions on adjustments to their savings and investment behavior. The SEC is therefore seeking public comments on the proposed amendments to these requirements, with the key points as follows:

          (1) Establishing disclosure principles for PVD individual statements to ensure that the information is comprehensive, clear, and conducive to members’ decision-making, with an emphasis on communicating information useful for retirement financial planning, enhancing financial and investment literacy, and encouraging appropriate savings and investment behavior.

          (2) Enhancing the content of disclosures to cover at least two key sections, with specified minimum information required in each section, as follows:
- Member investment information: Asset management companies (AMCs) would be required to disclose additional information, including the member’s total portfolio value, asset allocation by each investment policy selected by the member, performance of each selected investment policy, and the member’s personal rate of return, to help members better understand their current investment position.
- Action-oriented messages: AMCs would be required to include messages that raise members’ awareness of the adequacy of their retirement savings and provide access to their online retirement planning tools containing the specified minimum information. Members would be able to enter relevant information to receive retirement savings projections, together with preliminary guidance on increasing savings contributions, adjusting investment policies or investment plans, and revising post-retirement spending goals, as appropriate.

          (3) Prescribing disclosure format requirements to require the use of appropriate, clear, easy-to-understand, and non-misleading language and formats, together with appropriate warnings, disclaimers, and references, to enhance disclosure quality and member protection. In addition, the Association of Investment Management Companies (AIMC) would be required to prescribe the details of the disclosure requirements and presentation format of PVD individual statements, subject to SEC approval.

The proposed regulations are expected to be issued within 2026 and take effect within 12 months from the date of publication in the Government Gazette, to allow the business sector time to prepare the related systems and operations.

The consultation paper is available on the SEC website at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=1192 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 kodchawan@sec.or.th or sirinad@sec.or.th. The public hearing ends on 23 August 2026.