Thais get lucky with new retirement lottery scheme
Lawmakers hail popular vote as financial reform with fun on the side
The House of Representatives has given the green light to a game-changing amendment that could turn every lottery ticket into a retirement win.
Yesterday, July 23, MPs voted overwhelmingly to approve changes to the National Savings Fund Act, introducing a brand-new weekly retirement lottery aimed at helping Thais build long-term savings while still enjoying their favourite national pastime.
The new law allows anyone aged 15 or older to purchase 50 baht tickets for weekly draws, with prizes and savings guaranteed. The retirement lottery will feature five top prizes of 1 million baht each and 10,000 second prizes of 1,000 baht, drawn every Friday at 5pm. Winners will receive their payouts directly via PromptPay.
But even those who don’t strike it lucky will come out ahead. For non-winners, the ticket cost is automatically converted into savings. All accumulated funds, along with interest from the National Savings Fund (NSF), will be available once the participant turns 60.
Deputy Finance Minister Paopoom Rojanasakul assured the House that safeguards are in place to prevent the scheme from being exploited.
“Each person can only spend up to 3,000 baht a month on tickets,” he said. “This ensures fair access and stops wealthier individuals from dominating the lottery.”
The new system also caters to older citizens. Those over 60 can still join the draw and will receive their money plus returns within five years. If they pass away during this period, their estate will inherit the remaining funds.
The House passed the amendment with a landslide: 427 votes in favour, just one against, three abstentions, and four who did not vote. The idea received strong support across party lines, with many MPs praising it as a creative way to help Thais save money while indulging in the nation’s love for lotteries, Bangkok Post reported.
“This is a fun and effective way to build financial stability,” one MP said. “People who buy tickets regularly now have a way to secure their future.”
The retirement lottery is expected to launch in the fourth quarter of this year, pending approval from the Senate.
If successful, the scheme could boost national savings and stimulate economic activity—one lucky ticket at a time.
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