House Passes Retirement Lottery Bill With Strong Support
The House of Representatives passed the final reading of the retirement lottery bill on Wednesday, with 427 members voting in favor. Only one member opposed the measure, and three abstained. The bill allows the National Savings Fund (NSF) to issue retirement lottery tickets. It now moves to the Senate for three readings.
Changes Made During Review
Deputy Finance Minister Paopoom Rojanasakul, chair of the special committee that examined the bill, explained key changes after the first reading. The law will take effect 60 days after publication in the Royal Gazette, rather than 90 days. Prize amounts will be decided through NSF directives instead of being set by law to allow flexibility based on economic conditions and demand. The NSF will let lottery buyers withdraw their savings before age 60 under certain conditions. Disabled buyers will be allowed three withdrawals instead of one. The NSF retains the authority to return all invested money to buyers who reach 60. Other minor edits were also made.
Plans for Launch and Benefits
Paopoom said the NSF expects to launch the first retirement lottery tickets in the fourth quarter of 2025. He assured lawmakers that the fund would offer extra benefits to ticket holders from generated returns. Several MPs supported the bill during the debate and suggested letting buyers withdraw funds in installments before 60. Some proposed raising the minimum purchase age from 15 to 18. Paopoom responded that buying tickets counts as saving, not gambling, since buyers receive all their invested money back. He said 15-year-olds are mature enough to decide on saving money. The NSF may later set rules for early withdrawals of excess savings before 60. Limit on Purchase to Protect Access
Paopoom said the government capped purchases at 3,000 baht per person for 50-baht tickets. This step aims to prevent wealthy buyers from dominating the scheme and blocking low-income people from participating.
The retirement lottery aims to encourage savings for old age by combining investment with the chance to win prizes. The bill’s passage in the House marks the next step toward launching the program by late 2025, following Senate approval and final enactment.
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