Retirement lottery project wins massive public support

The government’s proposed “retirement lottery” has won overwhelming public support, with 99.05% of poll respondents giving the idea the thumbs-up, according to Deputy Finance Minister Paopoom Rojanasakul today.


The massive support for the scheme became apparent in an online poll conducted by the National Savings Fund between August 16 and 30.


Under the scheme, the people buying retirement lottery tickets would not lose their money, whether they win the lottery or not. The money would be kept in their accounts and refunded when they reach the retirement of 60. The poll shows 92.45% of the respondents agree with this arrangement against 4.72% who proposed other options.


If the investors die before reaching retirement age, their children or other beneficiaries would inherit the refund, plus any other financial returns due. The poll shows 98.11% agree with this arrangement while 0.94% disagree.


Investors can choose whether to receive the refund in a lump sum or in two instalments after their retirement. 80.2% of the respondents say they would prefer refund in a single payment.


Several respondents also proposed that the retirement age should be extended beyond 60 and that more groups of people should be allowed to join the scheme.


Paopoom said the Finance Ministry will take into consideration all the observations and suggestions proposed by the poll respondents, before the scheme is submitted to the Cabinet in October.

Retirement lottery project wins massive public support