Report Retirement Lottery: A Fresh Approach to Savings in Thailand

[snoop1130]

Photo courtesy of Pattaya Mail

 

In a major move to blend entertainment with financial security, Thailand's House of Representatives has approved a revolutionary amendment to the National Savings Fund Act. The new initiative introduces a weekly "retirement lottery" designed to help Thais build savings while enjoying their much-loved pastime.

 

The newly passed law allows individuals aged 15 and up to purchase lottery tickets for 50 baht each, with weekly draws featuring significant prizes. Every Friday at 5pm, participants stand a chance to win one of five top prizes worth 1 million baht each, or be among the 10,000 lucky ones to secure a second prize of 1,000 baht. All winnings are swiftly transferred via PromptPay, ensuring seamless access to funds.

 

But the innovation doesn't stop at just winning. Even participants who don't clinch a prize will find their ticket's cost turned into savings. These funds accumulate along with interest, courtesy of the National Savings Fund, and become accessible once the ticket holder reaches the age of 60.

 

Deputy Finance Minister Paopoom Rojanasakul assured that measures are in place to maintain fairness. “Ticket purchases are capped at 3,000 baht per person each month,” he stated, “preventing wealthier individuals from monopolising the draw.”

 

This scheme is inclusive of older citizens as well. Participants over 60 will have access to their investment plus any returns within five years. Additionally, in the unfortunate event of their passing, heirs will inherit any remaining funds.

 

The House showed overwhelming support for the amendment, with a vote count of 427 in favour, only one opposed, three abstentions, and four non-voters. The move has garnered praise from MPs across various parties, hailed as a creative method to save money while engaging with a national favourite.

 

An enthusiastic MP remarked, “This initiative is both enjoyable and a smart way to ensure financial security. Regular buyers now have a promising way to safeguard their future.”

 

Scheduled to launch in the fourth quarter of this year, pending Senate approval, this retirement lottery aims to enhance national savings and fuel economic growth—one ticket at a time.

 

  Adapted by ASEAN Now from The Thaiger 2025-07-24

 

 

[ikke1959]

Sounds good, but with the gambling addicting that is already going on, it will be a new burden for the people, who hope to win a big price in the lottery. Never forget that Thai people live by the day..There is no future investments for most or thinking about tomorrow. I would scrap the plan

[flaming dragon]

2 hours ago, snoop1130 said:

But the innovation doesn't stop at just winning. Even participants who don't clinch a prize will find their ticket's cost turned into savings. These funds accumulate along with interest, courtesy of the National Savings Fund, and become accessible once the ticket holder reaches the age of 60.

 

Perhaps I'm naive, but this sounds great to me. Good for the gamblers, good for the investment fund and good to take pressure off the government when a massive number of Thais age out of work and are penniless (baht-less,?). 

 

 

[flaming dragon]

5 minutes ago, ikke1959 said:

Sounds good, but with the gambling addicting that is already going on, it will be a new burden for the people, who hope to win a big price in the lottery. Never forget that Thai people live by the day..There is no future investments for most or thinking about tomorrow. I would scrap the plan

 

That's the point. The money that they gamble away, will, in theory, be returned to them with interest at age 60. It's turning a vice into a virtue.  The people who buy the tickets were never going to save or invest in the stock market in the first place. 

[VincentRJ]

"Every Friday at 5pm, participants stand a chance to win one of five top prizes worth 1 million baht each, or be among the 10,000 lucky ones to secure a second prize of 1,000 baht." 

 

That totals 15 million baht in prizes. If participants who don't clinch a prize get their ticket's cost turned into savings, then who pays for the 15 million baht of prizes? 

[Celsius]

Not bad but the money pot will be stolen.

[ThreeCardMonte]

Lotteries are nothing more than tax on the ignorant.

[Chin01]

2 hours ago, flaming dragon said:

 

That's the point. The money that they gamble away, will, in theory, be returned to them with interest at age 60. It's turning a vice into a virtue.  The people who buy the tickets were never going to save or invest in the stock market in the first place. 

The problem is that now people will justify their habits as saving for retirement...and then buy more lottery tickets.  It incentivizes people to gamble more.  Definitely the wrong direction in Thailand, IMO.

[proton]

1 hour ago, ThreeCardMonte said:

Lotteries are nothing more than tax on the ignorant.

 

Usually the poor as well 

[Patong2021]

10 minutes ago, Chin01 said:

The problem is that now people will justify their habits as saving for retirement...and then buy more lottery tickets.  It incentivizes people to gamble more.  Definitely the wrong direction in Thailand, IMO.

Purchases are capped at 3,000 baht. That's the best part of it. 

[Jim Blue]

Poor kids ..

[redwood1]

2 hours ago, VincentRJ said:

"Every Friday at 5pm, participants stand a chance to win one of five top prizes worth 1 million baht each, or be among the 10,000 lucky ones to secure a second prize of 1,000 baht." 

 

That totals 15 million baht in prizes. If participants who don't clinch a prize get their ticket's cost turned into savings, then who pays for the 15 million baht of prizes? 

 

 

This is the exact point I was going to post about......I see this point always glossed over in every press release.....WHO WILL PAY THE WINNERS?

 

This should be the first question asked about this whole scheme......If the winners are payed by the losers then there will not be much saved for peoples retirement  will there?

 

Bloody hell are people just too brain dead to be able to think any more?

 

[Enoon]

2 hours ago, VincentRJ said:

"Every Friday at 5pm, participants stand a chance to win one of five top prizes worth 1 million baht each, or be among the 10,000 lucky ones to secure a second prize of 1,000 baht." 

 

That totals 15 million baht in prizes. If participants who don't clinch a prize get their ticket's cost turned into savings, then who pays for the 15 million baht of prizes? 

 

It only needs 300,000 people to buy one 50 baht ticket each to get the 15 million.

 

Guaranteed millions of other people will buy tickets.......that's the money that goes into the pension pot.

 

That's not taking into account those in the 300,000, and the other millions, who buy multiple tickets....as much as 3000bahts worth each a month.

 

 

 

 

[flaming dragon]

3 hours ago, redwood1 said:

 

 

This is the exact point I was going to post about......I see this point always glossed over in every press release.....WHO WILL PAY THE WINNERS?

 

This should be the first question asked about this whole scheme......If the winners are payed by the losers then there will not be much saved for peoples retirement  will there?

 

Bloody hell are people just too brain dead to be able to think any more?

 

 

The winnings would be a small portion of a very large pool of money, just like any lottery. The difference is that instead of the profits going into someone else's pocket, they would go into an investment scheme that would hopefully grow over the years.

Aside from corruption, my concern would be that the fund be too conservatively invested and the value of pay outs being destroyed by inflation. 

 

 

[watchcat]

7 hours ago, ikke1959 said:

There is no future investments for most or thinking about tomorrow. I would scrap the plan

 

You are correct.

[VincentRJ]

6 hours ago, Enoon said:

 

It only needs 300,000 people to buy one 50 baht ticket each to get the 15 million.

 

Guaranteed millions of other people will buy tickets.......that's the money that goes into the pension pot.

 

That's not taking into account those in the 300,000, and the other millions, who buy multiple tickets....as much as 3000bahts worth each a month.

 

 

 

The point I was making is that everyone's money that is used to buy the lottery tickets, goes into a pension fund, no matter how many people buy the lottery tickets. The number of tickets bought are capped at 3,000 baht per person each month, for obvious reasons. 

 

However, whilst the 15 million baht in prizes might be much smaller than the total amount spent on the lottery tickets, that 15 million has to be paid for by the government, including the costs of operating the lottery program and paying the vendors.

 

A search on the internet reveals that the normal Thai lottery system pays 60% of the total sales revenue in prizes, and the remaining 40% is used to cover administrative costs and fund social programs.

 

It would appear that this new lottery system will pay 100% of total sales revenue to fund social programs, that is, the pension fund. All administrative costs and prizes will be an additional cost to the government, or a government subsidy, presumably paid for by additional taxes, or additional government debt.
 

[BKKKevin]

So here is the scheme…

Give the poor sods an app where they can gamble away 3,000 baht a month for 30-40 years with the added bonus of getting all the money back at 60…

 

Then at 60 years of age they are so addicted to the app that they spend all their “retirement benefits “ on the gambling app…. 

 

[Grumpy one]

10 hours ago, VincentRJ said:

"Every Friday at 5pm, participants stand a chance to win one of five top prizes worth 1 million baht each, or be among the 10,000 lucky ones to secure a second prize of 1,000 baht." 

 

That totals 15 million baht in prizes. If participants who don't clinch a prize get their ticket's cost turned into savings, then who pays for the 15 million baht of prizes? 

No doubt the extremely generous government will cough it up 

[redwood1]

42 minutes ago, VincentRJ said:

 

The point I was making is that everyone's money that is used to buy the lottery tickets, goes into a pension fund, no matter how many people buy the lottery tickets. The number of tickets bought are capped at 3,000 baht per person each month, for obvious reasons. 

 

However, whilst the 15 million baht in prizes might be much smaller than the total amount spent on the lottery tickets, that 15 million has to be paid for by the government, including the costs of operating the lottery program and paying the vendors.

 

A search on the internet reveals that the normal Thai lottery system pays 60% of the total sales revenue in prizes, and the remaining 40% is used to cover administrative costs and fund social programs.

 

It would appear that this new lottery system will pay 100% of total sales revenue to fund social programs, that is, the pension fund. All administrative costs and prizes will be an additional cost to the government, or a government subsidy, presumably paid for by additional taxes, or additional government debt.
 

 

All good points here.......But for some thing as important as a life time retirement plan this lottery retirement plan and how the money flows all work should be spelled out clear as day for EVERY ONE to see and understand...This is a absolute MUST...

 

I have seen nothing in the press that even starts to give a good explanation....

 

Keeping things in the dark, smells of a possible SCAM....

[Farmerslife]

Perhaps a decent state pension would be of more help. Less exciting for sure but somewhat more practical.

 

 Currently Thais receive a pension of the princely sum of 600 baht per month at the age of 60 and incremental rises of a further 100 baht every decade.

 If they can make it through to 100 they will receive 1000 baht per month. 

 

[hotchilli]

19 hours ago, snoop1130 said:

But the innovation doesn't stop at just winning. Even participants who don't clinch a prize will find their ticket's cost turned into savings. These funds accumulate along with interest, courtesy of the National Savings Fund, and become accessible once the ticket holder reaches the age of 60.

Sounds a better bet than most lotteries.

[fgmr]

19 hours ago, snoop1130 said:

Photo courtesy of Pattaya Mail

 

In a major move to blend entertainment with financial security, Thailand's House of Representatives has approved a revolutionary amendment to the National Savings Fund Act. The new initiative introduces a weekly "retirement lottery" designed to help Thais build savings while enjoying their much-loved pastime.

 

The newly passed law allows individuals aged 15 and up to purchase lottery tickets for 50 baht each, with weekly draws featuring significant prizes. Every Friday at 5pm, participants stand a chance to win one of five top prizes worth 1 million baht each, or be among the 10,000 lucky ones to secure a second prize of 1,000 baht. All winnings are swiftly transferred via PromptPay, ensuring seamless access to funds.

 

But the innovation doesn't stop at just winning. Even participants who don't clinch a prize will find their ticket's cost turned into savings. These funds accumulate along with interest, courtesy of the National Savings Fund, and become accessible once the ticket holder reaches the age of 60.

 

Deputy Finance Minister Paopoom Rojanasakul assured that measures are in place to maintain fairness. “Ticket purchases are capped at 3,000 baht per person each month,” he stated, “preventing wealthier individuals from monopolising the draw.”

 

This scheme is inclusive of older citizens as well. Participants over 60 will have access to their investment plus any returns within five years. Additionally, in the unfortunate event of their passing, heirs will inherit any remaining funds.

 

The House showed overwhelming support for the amendment, with a vote count of 427 in favour, only one opposed, three abstentions, and four non-voters. The move has garnered praise from MPs across various parties, hailed as a creative method to save money while engaging with a national favourite.

 

An enthusiastic MP remarked, “This initiative is both enjoyable and a smart way to ensure financial security. Regular buyers now have a promising way to safeguard their future.”

 

Scheduled to launch in the fourth quarter of this year, pending Senate approval, this retirement lottery aims to enhance national savings and fuel economic growth—one ticket at a time.

 

  Adapted by ASEAN Now from The Thaiger 2025-07-24

 

 

 

19 hours ago, snoop1130 said:

Photo courtesy of Pattaya Mail

 

In a major move to blend entertainment with financial security, Thailand's House of Representatives has approved a revolutionary amendment to the National Savings Fund Act. The new initiative introduces a weekly "retirement lottery" designed to help Thais build savings while enjoying their much-loved pastime.

 

The newly passed law allows individuals aged 15 and up to purchase lottery tickets for 50 baht each, with weekly draws featuring significant prizes. Every Friday at 5pm, participants stand a chance to win one of five top prizes worth 1 million baht each, or be among the 10,000 lucky ones to secure a second prize of 1,000 baht. All winnings are swiftly transferred via PromptPay, ensuring seamless access to funds.

 

But the innovation doesn't stop at just winning. Even participants who don't clinch a prize will find their ticket's cost turned into savings. These funds accumulate along with interest, courtesy of the National Savings Fund, and become accessible once the ticket holder reaches the age of 60.

 

Deputy Finance Minister Paopoom Rojanasakul assured that measures are in place to maintain fairness. “Ticket purchases are capped at 3,000 baht per person each month,” he stated, “preventing wealthier individuals from monopolising the draw.”

 

This scheme is inclusive of older citizens as well. Participants over 60 will have access to their investment plus any returns within five years. Additionally, in the unfortunate event of their passing, heirs will inherit any remaining funds.

 

The House showed overwhelming support for the amendment, with a vote count of 427 in favour, only one opposed, three abstentions, and four non-voters. The move has garnered praise from MPs across various parties, hailed as a creative method to save money while engaging with a national favourite.

 

An enthusiastic MP remarked, “This initiative is both enjoyable and a smart way to ensure financial security. Regular buyers now have a promising way to safeguard their future.”

 

Scheduled to launch in the fourth quarter of this year, pending Senate approval, this retirement lottery aims to enhance national savings and fuel economic growth—one ticket at a time.

 

  Adapted by ASEAN Now from The Thaiger 2025-07-24

 

 

Is the lottery open to foreigners?

 

[captain_shane]

Here is what AI's thoughts are on this scheme:

 

This proposal is not a savings plan; it is a state-sponsored gambling scheme that uses the language of retirement security to justify a regressive tax on the poor and financially illiterate. It is riddled with logical fallacies, presents a demonstrably inferior financial product compared to existing alternatives, and opens the door to severe, negative societal consequences.

The entire plan is built on a foundation of several fallacies:

• Fallacy of the False Alternative: The plan's proponents create the impression that the only way to encourage savings among those who "love to buy lottery tickets" is to offer them another lottery. This ignores the direct, and superior, alternative of contributing to the existing National Savings Fund (NSF).

• Appeal to Emotion: The argument relies on the sympathetic image of hardworking Thais who "love to buy lottery tickets" finally getting a chance to save. This emotional appeal distracts from a rigorous financial analysis of the proposal, which reveals it to be a damaging financial product.

• Equivocation on the word "Savings": The bill intentionally conflates "money set aside" with "prudent financial savings." Locking money away in a no-interest account for decades is not a sound savings strategy; it is a guaranteed loss of potential earnings.

The "Savings" Component is a Financial Trap

The core premise of the bill—that non-winning lottery ticket purchases will be "saved" and returned with "returns from the National Savings Fund"—is profoundly deceptive.

1. Massive Opportunity Cost: The money spent on non-winning tickets is essentially an interest-free loan to the government for potentially up to 45 years. While this money is sitting idle, it is not earning the guaranteed interest or, more importantly, the direct government-matching contributions that define the actual National Savings Fund. Under the real NSF, the government provides matching contributions of up to 100% (with annual caps), effectively doubling a person's savings. This lottery scheme appears to strip away this primary benefit, replacing it with near-zero odds of winning a prize. A citizen who deposits 1,200 baht directly into the NSF gets an additional 1,200 baht from the government (if over 50); a citizen who spends that same amount on this lottery gets nothing but a lottery ticket.

2. Pathetic and Uncertain Returns: The "returns from the National Savings Fund" are presented as a benefit. However, the NSF's historical performance is poor. In 2016, it targeted a mere 3% return, and for the first seven months of 2021, it generated a paltry 1.14%. By steering citizens into this scheme, the government is locking their money into a low-yield fund while denying them the guaranteed, immediate return of the government co-contribution. The proposal is a mathematically worse deal for the saver than the system already in place.

A Regressive Tax Disguised as a Social Program

Stripped of its "savings" rhetoric, this is a classic state lottery, and it carries all the hallmarks of a regressive tax that preys on the most vulnerable.

1. Exploitation of the Poor: Studies consistently show that low-income individuals spend a disproportionately high percentage of their income on lottery tickets. This bill doesn't solve that problem; it institutionalizes it under the guise of benevolence. It targets those with the least financial literacy and exploits their hope for a windfall, all while providing a demonstrably terrible financial "product."

2. Cannibalization of Real Savings and Consumption: The money for these tickets will not materialize from thin air. It will be diverted from other uses. Research on similar schemes shows that the funds come from reductions in current consumption and other forms of savings. This means money that could have been spent at local businesses, on essential goods, or invested in genuinely productive assets will instead be funneled into a state-run gambling enterprise.

Worst-Case Scenarios and Unintended Consequences

The potential negative outcomes of this bill are severe.

1. Legitimizing Gambling Addiction: By branding a lottery as a "retirement" plan, the state is giving moral license to gambling. It encourages citizens to view a game of chance as a legitimate savings strategy, potentially fostering gambling habits in individuals who might otherwise have avoided them.

2. Funding Fungibility and Deceit: The claim that this will "benefit economic development" is baseless. There is no guarantee that the profits generated will be used for new or additional social benefits. As seen in numerous other jurisdictions, governments often use lottery revenue to replace, not supplement, existing funding for public programs. The funds can be used to plug budget holes elsewhere, making the entire exercise a deceptive shell game.

3. The Rich Still Win: The 3,000 baht monthly cap is presented as a measure to "give equal access." This is naive. Wealthier individuals are far more capable of maxing out this limit without financial strain, giving them more chances to win the prizes, which are funded by the losses of the poor.

This bill is an attack on the financial well-being of the very people it purports to help. It is a cynical maneuver that leverages false hope to extract wealth from low-income populations, offering a financially inferior "savings" product as a reward. It should be recognized not as a tool for retirement, but as a predatory instrument of the state.

[bg53]

19 hours ago, snoop1130 said:

individuals aged 15 and up to purchase lottery tickets

 

Am I wrong to be disturbed by this?

[Purdey]

Everything has to be "easy" for the Thai government, doesn't it?

Household debt high? Just encourage gambling. Interests on savings accounts close to zero? Encourage more gambling. Stock Exchange out of reach of ordinary people and plunging faster than a tourist off a condo balcony? Encourage more gambling.

Don't bother to develop education, or modern industries or high tech. Just gambling.

While I understand the explanation that it helps to save money, giving the poor and weak the impression gambling is good is perhaps not the best idea.