Smart E-Retire 85/60, Smart Retirement Pension Plan

The earlier, the better. Starting retirement planning at a young age allows more time to accumulate savings and benefit from compound interest. Beginning as soon as you start working or at least before the age of 35 helps ensure sufficient funds for post retirement expenses. On average, Thais need approximately THB 3–5 million for 20 years of retirement, depending on lifestyle.

Pension life insurance premiums are tax-deductible of up to 15% of total taxable income and up to THB 200,000 per taxable year, or up to THB 300,000 (if not including life insurance premiums from other plans).

Saving on your own requires strict discipline and carries the risk of spending funds prematurely. In contrast, a pension plan provides guaranteed benefits under clear terms, such as receiving a fixed annual pension of 20% of the insured amount from age 60 to 85. This ensures accurate financial planning. Additionally, it offers life coverage with a lump-sum benefit for beneficiaries in case of unforeseen events, and most importantly, tax deductions of up to THB 300,000 (excluding premiums from other life insurance plans).

When you apply for savings life insurance online at FWD, you have the option to receive either an e-policy via email or a printed policy booklet. Once your online application and payment are successfully processed, your coverage begins immediately, confirmed by an email detailing your insurance information. You will then receive your electronic policy via email within 2 business days, or a printed policy will be posted to you within 2 weeks.