By Thai Newsroom Reporters
THE NATIONAL SAVINGS FUND’s project to run a retirement lottery was approved by the Pheu Thai-led cabinet of ministers today (July 16).
Deputy Finance Minister Paopoom Rojanasakul confirmed today the National Savings Fund under care of the Ministry of Finance will operate the retirement lottery for registered members of the Fund to buy in hopes of winning prizes in cash.
Legislation to amend the National Savings Fund Act accordingly is yet to be proposed to parliament for approval.
The retirement lottery will be run every Friday with five First Prizes amounting to one million baht each and 10,000 Second Prizes worth 1,000 baht each.
Retirement lottery tickets will be available for sale around the clock for 50 baht each via the National Savings Fund’s App.
Nevertheless, the Fund members will not be allowed to buy the retirement lottery for more than 3,000 baht in a month, according to the deputy finance minister.
All the money spent on the retirement lottery purchases by those members plus other deposits with the National Savings Fund will be immediately returned upon their retirement from work at 60, regardless of whether they may have won any prizes or not, he said.
Thai nationals who are aged over 15 years but under 60 years and not currently working as government personnel or entitled to pension or social security benefits may apply for membership of the Fund and contribute a maximum of 13,200 baht to the Fund in a year.
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Top and Front Page: Representative images of retirement lottery. Photos: Thai Rath
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