House overwhelmingly passes final reading of retirement lottery bill

The House of Representatives on Wednesday overwhelmingly approved the final reading of a bill allowing the National Savings Fund (NSF) to sell retirement lottery tickets, with 427 MPs voting in favour.

Only one MP voted against the bill, while three abstained. The bill, which amends the National Savings Act, was supported by both coalition and opposition MPs during its second-reading debate. It will now be forwarded to the Senate for three readings.

Key amendments made to the bill

Deputy Finance Minister Paopoom Rojanasakul, who chairs the special committee that scrutinised the bill, reported to the House the key amendments made during the vetting process after the first reading.

These include:

• The law will take effect 60 days after its publication in the Royal Gazette, instead of the original 90 days.
• Prize amounts will be determined via NSF directives, rather than being written into the law, for greater flexibility in response to economic conditions and public demand.
• The NSF will be empowered to issue directives allowing retirement lottery buyers to withdraw their accumulated savings before the age of 60.
• Disabled persons who purchase retirement lottery tickets will be allowed to make three withdrawals, up from the previous limit of one.
• The NSF will have full authority to return invested amounts to buyers once they reach the age of 60.
• Other minor modifications to the original draft.

First lottery expected by Q4 2025

Paopoom assured MPs that the NSF would provide additional benefits from the returns generated by the retirement lottery fund. He added that the first batch of retirement lottery tickets is expected to be launched in the fourth quarter of 2025.

During the second reading, many MPs expressed support for the bill. Some proposed allowing buyers to withdraw funds in instalments, rather than waiting until they turn 60. Others suggested raising the minimum purchase age from 15 to 18 years.

Paopoom responded that buying retirement lottery tickets is considered a form of saving, not gambling, as buyers would receive back every baht invested. He said 15-year-olds were now mature enough to decide to save money.

He also noted that the NSF could later issue directives allowing buyers to withdraw part of their savings before turning 60—once their accumulated amount is deemed sufficient for retirement. Withdrawals would be limited to any excess savings.

Purchase cap to prevent market dominance

Paopoom explained that the government had limited purchases to 3,000 baht per person for 50-baht tickets in order to prevent wealthy individuals from buying up large volumes, which could deprive low-income citizens of the opportunity to participate in the scheme.