More than 400,000 join National Savings Fund
THE number of National Savings Fund (NSF) members has climbed to more than 400,000 with total savings of almost Bt559 million, the government has said.
The popularity of the NSF, launched in August, demonstrated that many people placed much importance in saving for future, including for after-retirement, said Government Spokesman Maj-General Sansern Kaewkamnerd.
The Bank for Agriculture and Agricultural Cooperatives has 220,868 members with total savings of more than Bt259 million, the Government Savings Bank has 153,070 members with total savings of more than Bt210 million and Krungthai Bank has 26,378 members with total savings of almost Bt89 million.
The NSF office has 72 members with total savings of more than Bt133,400.
Besides members paying their own contribution under the scheme, the government will contribute to the fund according to a specified criteria so members receive a monthly pension after retirement. The NSF aims to provide a safety net for almost 25 million self-employed and non-formal workers who are not covered under state pension programmes or private provident funds. The government expects about 3 million people to register with the NSF in the first five years.
Sansern said the government had a policy to let people exercise their right to transfer their state pension savings fund under Article 40 the Social Security Act to the NSF by March 23. For details, contact hotline 1506.
