Bangkok (VNA) – The Thai Government is studying a new policy that would allow citizens to convert money spent on unsuccessful digital lottery tickets into pension savings, aiming to encourage long-term financial security while promoting responsible spending habits.
Ekniti Nitithanprapas, Deputy Prime Minister and Minister, said the project is expected to be launched within the next four months. The new initiative will see a portion of the price of non-winning digital lottery tickets automatically channelled into a dedicated savings account.
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segmented from the ticket price and held under principles similar to a Retirement Mutual Fund (RMF), with funds can be withdrawn once the individual reaches the age of 55.
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.
The Ministry also intends to offer attractive 1% interest government bond investment opportunities to elderly and retired citizens monthly, ensuring retail investors can participate easily.
Lavaron Sangsnit, Permanent Secretary of the MoF, stressed that the project’s goal is purely to promote saving, not to increase gambling. Crucially, the scheme will be limited to tickets purchased via the 'Pao Tang' digital application, as the platform’s digital infrastructure makes it possible to accurately track purchasers and credit their individual savings accounts.
Funding for this returned saving will be allocated from the 17% share of revenue currently allocated to the Government Lottery Office (GLO), which falls under the Minister’s discretionary authority.
Lavaron confirmed the savings will be managed with an emphasis on safety and capital preservation, likely through a highly secure fund structure. He predicted that if citizens consistently save through this mechanism, the accumulated fund could grow significantly, potentially reaching tens of billions of baht over time./.
