Savings fund gets Bt164m
The Nation

BANGKOK: -- THE NATIONAL Savings Fund (NSF) has received deposits of more than Bt164 million from people on its first day.

Depositors are members of the NSF, who will enjoy financial contributions from the government as they are saving money for their retirement life via the fund.

"The government will continue to support the NSF so as to provide a form of security for people," Government Spokesman Sansern Kaewkamnerd said yesterday.

He said 183,281 bank accounts were registered with the total of Bt164.47 million through three state banks - the Bank for Agriculture and Agricultural Cooperatives (Bt159.57 million in 177,624 accounts), the Government Savings Bank (Bt2.8 million in 4,099 accounts), and Krungthai Bank (Bt2.06 million in 1,558 accounts).

These numbers illustrated people's enthusiasm and determination to ensure a regular flow of income during their retirements, he said.

There are now nearly 25 million Thais who can benefit from the NSF.

Source: http://www.nationmultimedia.com/national/Savings-fund-gets-Bt164m-30267176.html

-- The Nation 2015-08-22

I thought the Government was going to match payments but that does not seem to be the case now.

I did the firgures on this one and if you die early you are better off with your own savingsplan, if you however live into your 80's you will be better off with the NSF.

I thought the Government was going to match payments but that does not seem to be the case now.

AS I READ IT:

Depositors are members of the NSF, who will enjoy financial contributions from the government as they are saving money for their retirement life via the fund.

NSF, a poor choice of initials I would have thought for a savings scheme!

(NSF=Non-sufficient Funds or in other words, a bounced cheque)

And will there be other news that the Royal Thai Navy announces it will now buy six submarines after finding additional funds ?

Or that all the top flag officers are taking early retirement ?

Surely, any scheme to encourage the people to save for their retirement should be applauded.

My Mother in law, (well into her eighties,) receives 800 Baht pension per month from the local Amphur.

Even in LOS this is a joke, How can they expect pensioners to live for a month on that pittance?

Answers on a postcard please, to The Good General, Military Mansions, Millionairs Row, Bangkok.

Great scheme, the payments made will be replaced by new or existing loans, benefiting the account holder with the added security that their pension will help contribute towards paying off their life of debt.

One thing at a time, savings scheme's only benefit those who have the money in the first place.......