Thailand’s House of Representatives has approved a new savings scheme called the “Retirement Lottery,” with 427 lawmakers supporting the bill in its third reading.
According to Pattaya Mail, the program aims to promote long-term savings by combining the appeal of lottery participation with guaranteed returns. The legislation amends the National Savings Fund Act, allowing citizens to buy Retirement Lottery tickets for THB50 each, up to a monthly limit of THB3,000. Each baht spent is treated as a personal savings contribution, blending the thrill of a lottery with structured financial planning.
Funds will become accessible at age 60, though early withdrawals will be allowed under specific circumstances to provide financial flexibility.
Deputy Finance Minister Paopoom Rojanasakul, who led the special committee, explained that the initiative is intended to offer a secure and legal alternative to underground lotteries, which often lead to financial losses. Unlike those, the Retirement Lottery keeps funds within the official economy.
The program is open to Thai citizens aged 15 and older, in line with eligibility for other state-backed financial tools like bonds. Some lawmakers proposed raising the age limit to 18 or allowing earlier access to savings. A compromise was reached, adding a clause for partial withdrawals if certain conditions are met.
Final details will be set out in an upcoming ministerial regulation. The bill now moves to the Senate for review. If enacted, the Retirement Lottery will provide Thai citizens with a new, structured way to save while enjoying the familiar excitement of monthly lottery draws.