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The Thai government is introducing a novel policy that allows citizens to convert money spent on losing digital lottery tickets into retirement savings, describing the scheme as a means to \u201creturn profit\u201d and encourage thrift in the face of an aging population.<\/p>\n
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Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, confirmed the plan on Wednesdau, revealing he has instructed the Permanent Secretary to finalise the criteria for the mechanism.<\/p>\n
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The project is expected to be launched within the next four months as one of the government\u2019s priority “Quick Big Wins.”<\/p>\n
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The new initiative will see a portion of the price of non-winning digital lottery tickets automatically channelled into a dedicated savings account.<\/p>\n
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“This ‘Lottery Savings’ scheme isn’t formally named yet, and it is entirely separate from the ‘Lottery Pension’ scheme run by the National Savings Fund (NSF),” Ekniti explained. “The money will be segmented from the ticket price and held under principles similar to a Retirement Mutual Fund (RMF): funds can be withdrawn once the individual reaches the age of 55.”<\/p>\n
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He added that those aged 56 and over can continue saving for an additional five years, and the accumulated funds may be used as collateral for loans, offering liquidity to savers.<\/p>\n
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