Thai lawmakers back retirement lottery initiative as national savings tool
The aim is to curb illegal gambling while promoting long-term saving with guaranteed returns.
Thailand.- The House of Representatives has approved the final reading of the Retirement Lottery bill with 427 in favour. The bill, which now heads to the Senate, would amend the National Savings Fund (NSF) Act to allow the sale of weekly lottery tickets priced at THB50 (US$1.35).
Despite the name, the lottery will not be a gambling product but a savings product. Money spent will be fully refundable at age 60 with the addition of investment returns. The initiative is expected to roll out in the fourth quarter of 2025. “This is not gambling, this is structured saving,” said deputy finance minister Paopoom Rojanasakul, who chaired the bill’s special committee.
Under the scheme, participants aged 15 and older can purchase up to THB3,000 (US$93) worth of tickets per month. Weekly draws will have five top prizes of THB1m (US$31,000) and 10,000 second prizes of THB1,000 (US$31), with winnings transferred to PromptPay accounts. For those who don’t win, every baht will be automatically deposited into their NSF savings account, accessible upon reaching retirement age.
To monthly cap is intended to deter wealthy people from monopolising tickets. The scheme also aims to reduce the appeal of illegal gambling by offering a legal alternative. Early withdrawal options are being considered.
