Why just save for retirement when you can win your way there? Thailand’s new lottery is making it possible.
Deputy Finance Minister Paopoom Rojanasakul has confirmed that sales for the highly anticipated retirement lottery will kick off in the fourth quarter of this year, offering weekly cash prizes while promoting long-term savings.
Paopoom referred to the legal green light already passed by the House of Representatives.
“Sales will launch soon after Senate approval of the NSF Act amendment.”
The retirement lottery is aimed at encouraging people to prepare for their golden years, with a twist. Lottery tickets will cost just 50 baht each, and anyone aged 15 or older can participate, regardless of whether they’re a member of the National Savings Fund (NSF).
Buyers can spend up to 3,000 baht per month, with 5 million tickets available each week. The prize draw will take place every Friday, with five lucky winners each pocketing 1 million baht. Smaller prizes of 1,000 baht will be awarded to players whose tickets match the last three digits.
Paopoom explained that participants won’t just be gambling, they’ll be saving. Ticket sales will go into a long-term account, with funds returned to buyers upon reaching the age of 60. Those over 60 can still buy in, with savings returned five years later.
“The retirement lottery offers dual benefits, financial security and weekly excitement. It’s an innovative way to strengthen Thailand’s savings culture.”
Ticket purchases will be available through TrueMoney, myAIS, and ShopeePay, as well as the NSF app. A new channel launching in early September will allow people without smartphones to buy tickets at participating financial institutions, reported Bangkok Post.
The government will fund all prize payouts, which could reach 15 million baht per week, or around 700 million baht annually, if all prizes are claimed. Unclaimed winnings will roll over into future prize pools.
All prize payouts will be transferred via PromptPay, making it seamless for users to receive their windfalls.
Currently, the NSF has 2.78 million members, mostly Thais not covered by social security or pension schemes. The target is to hit 2.8 million by year-end, with the retirement lottery expected to play a major role in reaching that milestone.
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