The Thai government is set to introduce a retirement lottery under the National Savings Fund (NSF), a move expected to boost national savings by 13 billion baht annually. The initiative, which offers digital lottery tickets priced at 50 baht each, is designed to encourage long-term savings while leveraging the public’s enthusiasm for lotteries.
Deputy Finance Minister Paopoom Rojanasakul stated that the project requires an amendment to the National Savings Fund Act, which has already received cabinet approval and is currently under review by the Office of the Council of State. The bill is expected to be submitted to Parliament later this month.
The amendment to the retirement lottery project, launched by the NSF, expands the fund’s scope to include a broader demographic, such as civil servants and individuals under social security schemes. Traditionally, the NSF was designed to provide retirement savings for informal workers who lacked access to traditional pension schemes. However, this amendment extends eligibility to all Thai nationals aged 15 and older, including informal workers, civil servants, and individuals covered under Section 33 of the Social Security Act.
Furthermore, the amendment allows individuals beyond the age of 60 to continue participating in the scheme, provided they save for at least five years from their initial ticket purchase.
Under the scheme, tickets can be purchased daily, and prize draws are held every Friday at 5 PM, with winners receiving immediate payouts via PromptPay. The prize pool includes:
- Five first prizes of 1 million baht each
- 10,000 awards of 1,000 baht each
- A special jackpot prize, if available
All funds spent on tickets will be deposited into an individual’s NSF savings account, which can be accessed upon turning 60 years old.
Draft Amendment to the National Savings Fund Act (Retirement Lottery)_Bangkok Global Law