Sopawadee Lertmanuschai, the new secretary-general of the Government Pension Fund, wants to see the organisation maintain sustainable growth after her four-year term expires. However, the way the GPF works should be changed so that it better serves high and changing demand from 1.2 million members. Siriporn Chanjindamanee and Sasithorn Ongdee report.
What you would like to see over your four-year term in office?
I would like to see the organisation experience sustainable growth and members reap whatever benefits they can.
The GPF will have to look after the rate of return for its members after they retire, so they can have better lives. We'll be very proud if we can achieve this.
To reach this goal, the organisation will have support. We're regrouping our organisational structure, especially in terms of strategic asset allocation - the units and roles of employees who will be responsible for this job. This regrouping will focus on checks and balances, for the sake of transparency.
What is your top priority?
Customer-relationship management. There are many things the pension fund's members must understand about their money that is invested in the GPF, that there are risks inherent in receiving returns. In the short term, the returns can go up or down, but in the long term the members should receive more benefits, from saving their money in other assets.
In addition, we'll offer a greater choice of investments to members. Those who are not retired may want to choose a fund carrying a little risk and which invests in equities rather than debentures or bonds.
On the other hand, retirees may opt for a fund that invests more in debentures or bonds more than equities.
Second, more types of jobs will be delegated to the staff, depending on the unit. Employees will be taught to work with greater efficiency.
What is the most challenging aspect about this |position?
Keeping the organisation growing sustainably. In its initial stage, the GPF was considered a starting point, then it began growing during Visit Tantisunthorn's time.
We want sustainable growth as a strong foundation, so we can to hand that over to the next secretary-general.
We plan to adopt a new corporate culture for 270 employees, one in which they work more efficiently and transparently.
How will you adjust the allocation of the fund's strategic assets?
We'll review the fund's investment portfolios, especially private deals in which the secretary-general decided on the investment budget, which was capped at Bt200 million. A committee will now help decide private deals.
At present, private deals have an investment portfolio of Bt10 billion, with half of that invested in IRPC.
What is your investment strategy?
We will consider whether the proportion of investment is suitable to present conditions. Investing entails risks, but we'll not be too aggressive or too conservative. Otherwise, we cannot beat inflation.
