The objectives of this research are to estimate the rate of return and to evaluate the performance of Retirement Mutual Funds in Thailand by using Sharpe, Treynor and Jensen models The results show that equity, mix and money market have average rate of returns higher than the market (benchmark), with 0.01 significance level. The performance of Retirement Mutual Funds evaluated by the Sharpe and Treynor model show that equity, mix and money market have higher Sharpe's ratio and Treynor's ratio than the market and when evaluated by the Jensen model shows that equity and mix policies have Jensen's Alpha > 0,while debt and money market have Jensen's Alpha < 0 with 0.01 significance level.