Provident Fund (PVD) is a helper for working people that will allow working people to save millions by saving through the provident fund.
“Changing jobs, moving jobs, or even quitting regular work are common occurrences these days.”
But if we have a provident fund with the same company before changing jobs, moving jobs or becoming a business owner, how should we manage the provident fund to get the best benefits for ourselves?
“RMF for PVD” is a fund for transferring money from Provident Fund (PVD) from the original company to invest in RMF fund for the opportunity to increase the return on this lump sum as money for spending in retirement.
This method has many benefits, such as:
- No tax (because if we resign and withdraw money from the provident fund, the money we receive from the fund will be considered income that must be calculated in the tax base, causing us to pay more tax)
- There is an opportunity to continuously accumulate profits from investing in RMF, where the returns depend on which fund we choose to invest in and how much risk and volatility we can accept.
- Having money to spend after retirement because it is a long-term investment, making us confident that we will definitely have money to spend after retirement because we can sell the fund only when we are 55 years old.
However, RMF for PVD cannot be used for tax deduction and cannot be combined with the normal RMF investment amount. For example, if you transfer 800,000 baht from PVD to RMF for PVD, you can still invest in RMF according to the criteria, up to a maximum of 500,000 baht, to reduce your tax.
“Move PVD money to RMF for PVD Kasikorn Thai, invest in a variety of funds, choose up to 23 funds.”
With a variety of investment assets to choose from, such as bond funds, mixed funds, Thai stock funds, or foreign stock funds, you can be confident with Kasikorn Asset Management, which is guaranteed by the award for Best Asset Management Company of the Year from Morningstar.
Free of charge, both PVD to RMF for PVD transfer fee and RMF exchange fee within Kasikorn Asset Management. And once transferred, you can check your RMF for PVD portfolio at any time via the K-My funds app and receive investment advice in real time for every event.
“When changing jobs, don’t miss the opportunity to expand your investment with professionals like Kasikorn Asset Management.”
If you plan to change jobs or resign, you must choose to transfer money to RMF for PVD Kasikorn Thai. And if you don’t know which RMF fund to choose, you can always get advice from experts or want more details => https://kbank.co/40K5iDe
Frequently asked questions
Is there a fee for transferring PVD to RMF for PVD?
– There is no fee for transfer.
Can I transfer some of my PVD to the RMF for PVD fund?
– No, you must transfer the entire amount.
Can I transfer PVD to multiple RMF for PVD funds of Kasikorn Asset Management?
– The first transfer can only be made to 1 fund. However, once transferred, you can switch RMF for PVD funds within Kasikorn Asset Management as many as you want without any switching fees. You can do this every business day.
How many times per year can I switch RMF for PVD funds and are there any fees?
– You can switch within Kasikorn Asset Management as many times as you want and there is no fee for switching.
Can PVD be transferred separately into RMF for PVD funds from multiple asset management companies?
– No, you can’t. You have to transfer the entire amount to one company. However, if you want to change asset management companies after transferring, you can transfer the entire amount to the new asset management company.
When transferring PVD to the RMF for PVD fund of Kasikorn Asset Management, can I switch to another asset management company?
– Yes, you can. However, you must combine them into 1 fund before switching to another asset management company. You must pay a switching fee of 1.00% of the unit value of the last business day before the unit switching transaction date.
When transferring PVD to the RMF for PVD fund, do you have to hold it for another 5 years before you can sell it back?
– The RMF for PVD fund will count the holding period continuously from being a PVD fund member, for example, if you have been a PVD fund member for 10 years and are 52 years old, you will only have to hold the RMF for PVD fund for another 3 years until you reach 55 years of age, then you can sell it back to meet the conditions for tax benefits.
Can I redeem the RMF for PVD fund before the conditions are met?
– Yes, you can redeem it. It is considered a redemption without qualifying for tax benefits.
You must redeem the entire amount and pay withholding tax on the benefits according to the calculation criteria of the Revenue Department.
Can I buy more RMF for PVD funds?
– No, you can’t buy more. If you want to invest more, you have to buy the normal RMF funds.
Once the holding conditions are met, can I gradually sell back?
– You can gradually sell back as many times as you want.
I just transferred investment units. Why does K-My Funds show a lot of profit?
– According to tax conditions, the RMF for PVD fund will record money in 2 parts: the first part is the accumulated money, which will be recorded as cost, and the second part is the contribution money. The benefits of the contribution money and the benefits of the accumulated money will be recorded as profit.
**Investors should understand the product characteristics, return conditions, and risks before deciding to invest.**
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