Pulse – Thailand – December 2017
Thailand: Impact of amendments to the Labour Protection Act on severance payment and retirement.
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
Mark Whatley
Principal and Consulting Actuary, Milliman
VIEW PROFILE
Email:
mark.whatley@milliman.com
Tel: +65 63272311
Mark Whatley
Principal and Consulting Actuary, Milliman
A highly driven employee benefits and retirement specialist internationally.
Mark provides independent and objective consulting advice on employee benefits to multinationals, local companies and government-linked organisations.
Mark has over 23 years of employee benefits, retirement and financial services experience gained in Asia, Europe and Africa.
Before joining Milliman, Mark headed Willis Towers Watson’s benefits consulting business in South East Asia for over seven years, with teams in five countries.
Mark is an expert on benefits and retirement practice in each market in the region, gained from single and multi-country project experience, including; benefits review and optimisation, retirement plan design, retirement actuarial valuation, retirement and benefits administration, flexible benefits design and pricing, benefits communication, pre-M&A benefits due diligence and post-M&A benefits harmonisation. He has also worked on several multi-streamed HR transformation projects across the region.
Contacts
Mark Whatley
Principal and Consulting Actuary, Milliman
VIEW PROFILE
Email:
mark.whatley@milliman.com
Tel: +65 63272311
Mark Whatley
Principal and Consulting Actuary, Milliman
A highly driven employee benefits and retirement specialist internationally.
Mark provides independent and objective consulting advice on employee benefits to multinationals, local companies and government-linked organisations.
Mark has over 23 years of employee benefits, retirement and financial services experience gained in Asia, Europe and Africa.
Before joining Milliman, Mark headed Willis Towers Watson’s benefits consulting business in South East Asia for over seven years, with teams in five countries.
Mark is an expert on benefits and retirement practice in each market in the region, gained from single and multi-country project experience, including; benefits review and optimisation, retirement plan design, retirement actuarial valuation, retirement and benefits administration, flexible benefits design and pricing, benefits communication, pre-M&A benefits due diligence and post-M&A benefits harmonisation. He has also worked on several multi-streamed HR transformation projects across the region.