Online public hearing shows overwhelming support for retirement lottery
Deputy finance minister says bill to be revised taking public opinions into account
There is overwhelming public support for the government’s plan to sell a special lottery that would allow them to save their money for retirement, according to Deputy Finance Minister Paopoom Rojanasakul.
Paopoom was announcing the results of an online public hearing held from August 16 to 30 via two government websites – of the National Savings Fund (NSF), and the central legal affairs.
The following were the responses to the online questionnaire:
▪︎ Do you agree with the plan to have the NSF sell lottery tickets for retirement savings (retirement lottery)?
Yes - 99.05%
No - 0.95%
▪︎ Do you believe that your money spent buying the retirement lottery will be saved irrespective of whether you win the lottery, and that you will get the money back when you are 60 years old?
Yes - 92.45%
No - 4.72%
Other options - 2.83%
▪︎ Do you believe that when retirement lottery-buyers die, their money and profits from investments with their money will be returned in a lumpsum to their heirs or beneficiaries as specified?
Yes - 98.11%
No - 0.94%
Other options - 0.94%
▪︎ If you have the right to get your lottery money back at the age of 60, how do you want to get it back?
Lumpsum payment - 80.2%
Two instalments - 12.2%
Paopoom said participants of the online hearing also raised two major proposals. First, they want the buyers to be able to participate in the programme after the age of 60. Second, they want the government to allow general people, not only informal workers, to buy the retirement lottery.
Paopoom said the Finance Ministry would revise the retirement lottery bill in accordance with the public opinions.
He said he expected the bill to be submitted to the Cabinet for deliberations next month.
