Thai GPF expands into annuities and insurance

The $6 billion Government Pension Fund (GPF) of Thailand, which now manages retirement schemes for civil servants, is about to launch a new, wholly owned annuities business as well as acquire a stake in a global life insurance company in order to become a full-service pensions provider to the entire nation, says Visit Tantisunthorn, secretary general. These moves go hand-in-hand with the GPF's effort to amend its founding GPF Act to allow it to introduce member's choice (a topic ex…