The government is expected to spend between 1.8 billion and 2 billion baht per year on higher contributions to National Savings Fund (NSF) members, says Finance Minister Arkhom Termpittayapaisith.
On Tuesday the cabinet approved an increase in the government's NSF contributions, up to a maximum of 1,800 baht per year for members of all ages.
The cabinet also agreed with the ministry's proposal to increase the maximum amount members are allowed to save to 30,000 baht per year, up from 13,200 baht per year.
