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Two recent amendments to the Labour Protection Act (“LPA”) in Thailand will impact on companies’ retirement practices. The most recent amendment, approved in principle by the Thai Cabinet but still subject to review and royal assent, provides for an increase in the severance payment for employees with more than 20 years of service. The previous amendment, which was effective 1 September 2017, established that an employee is entitled to retirement from age 60 and clarified that the severance payment is payable on retirement.

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Contacts

Danny Quant

Principal and Consulting Actuary, Milliman

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Mark Whatley

Principal and Consulting Actuary, Milliman

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Contacts

Danny Quant

Principal and Consulting Actuary, Milliman

VIEW PROFILE

Mark Whatley

Principal and Consulting Actuary, Milliman

VIEW PROFILE