Thailand's retirement savings lottery program is moving toward implementation after the National Savings Fund Committee confirmed no obstacles remain. The digital scheme, priced at 50 baht per ticket, allows Thais aged 15+ to accumulate sav
The National Savings Fund Committee secretary-general announced the advancement of the retirement savings lottery program, or "Huay Kaesiwan," for the public. The secretary-general stated that discussions with the Finance Ministry and policy officials show no obstacles to the project's progression. The committee is requesting 60 days to organize and clarify the system before presenting it to the Finance Minister for consideration. If approved, full implementation will accelerate, with clarity expected by the end of 2025 and official ticket sales to commence.
The Huay Kaesiwan project originated from the Pheu Thai Party when it led the government after the 2023 election, driven by the Finance Ministry and the National Savings Fund Committee under the concept of "buy lottery, money doesn't disappear, it becomes savings."
The initial format involves digital scratch-off tickets priced at 50 baht each. Eligible buyers must be Thai nationals aged 15 and above, with a monthly purchase limit of 3,000 baht. Prize drawings occur every Friday, with a first prize of 1,000,000 baht (5 prizes) and a second prize of 1,000 baht (10,000 prizes).
Crucially, money spent on tickets will not be lost but accumulated as savings, with full refund upon reaching age 60.
Phaophoomi Rojansokul, deputy leader of Pheu Thai Party and former Finance Ministry official who championed the project, expressed support for the current Finance Ministry's continuation of the policy for public benefit. The former official noted that the program has gained international recognition as an innovative model, with international organizations preparing to study Thailand's lottery savings model in depth.
The former official stated that the previous government developed and promoted this policy, resulting in the National Savings Fund Act being published in the Royal Gazette as law. The National Savings Fund Committee system is ready to support Huay Kaesiwan.
The program has passed approval from both the House of Representatives and Senate, indicating widespread acceptance. If the current government recognizes the benefits, it can immediately continue and advance the project.