Understanding the National Savings Fund (NSF): A Savings Option for Freelancers, How to Apply and Its Conditions

Those working independently, not employed by any organization—commonly called freelancers—such as merchants, taxi drivers, influencers, and others, may worry about lacking retirement savings like government employees who have pension systems or regular employees covered by social security or provident funds. To address this, the government has established the National Savings Fund (NSF) to help self-employed individuals accumulate retirement savings.

What is the National Savings Fund?

The National Savings Fund, or NSF, is a fund that promotes long-term savings planning for self-employed individuals or freelancers. It functions similarly to the old-age fund within the social security system. NSF helps enhance members’ financial security, allowing them to save voluntarily. Upon reaching 60 years old, members receive a monthly pension payment.

Characteristics of saving with the NSF

1. Receive government matching contributions of 50–100% monthly based on age group.
2. Receive lifelong pension benefits up to 12,000 baht per month.
3. Full tax deductions up to 30,000 baht per year.
4. Guaranteed investment returns comparable to 12-month fixed deposit interest rates.

Minimum savings of 50 baht per contribution or up to 30,000 baht per year, with government matching up to 100% but not exceeding 1,800 baht annually per age group. The system is highly flexible—save more if you can, less if you can't, or skip months without contributions while retaining benefits.

The government's matching contribution varies according to the member’s age group as follows:

• Ages 15–30: The government matches 50% of each contribution, up to 1,800 baht annually. Members must save at least 3,600 baht per year to receive the full 1,800 baht match.
• Ages 30–50: The government matches 80% of each contribution, up to 1,800 baht annually. Members must save at least 2,250 baht per year to get the full 1,800 baht match.
• Ages 50–60 and above: The government matches 100% of each contribution, up to 1,800 baht annually. Members must save at least 1,800 baht per year to receive the full 1,800 baht match.

Members of all age groups can save up to 30,000 baht per year. Government matching funds are credited at the end of the following month; for example, contributions made in January receive matching funds at the end of February.

Eligibility criteria for joining the National Savings Fund

1. Thai nationals aged between 15 and 60 years.
2. Students.
3. Village heads, sub-district chiefs, volunteer defense forces, local disaster prevention volunteers, health volunteers, community leaders, and employees.
4. Farmers, merchants, general laborers.
5. Insured persons under Social Security Section 40, Option 1 (who pay 70 baht monthly themselves).
6. Not insured under other sections of social security.
7. Not employed in government service.
8. Not members of the Government Pension Fund or provident funds.

Application channels and service points

Interested individuals can apply via the “NSF” mobile application or in person at nearby service points such as:

• District offices nationwide.
• Provincial treasury offices.
• Community financial institutions.
• Government Savings Bank.
• Krung Thai Bank.
• Government Housing Bank (GHB).
• Bank for Agriculture and Agricultural Cooperatives (BAAC) branches nationwide.
• Counter Service outlets.
• Lotus shopping mall service points.
• Big C shopping mall service points.
• Boonsuem prepaid top-up machines.
• Nationwide recruitment networks.

Contact channels for the National Savings Fund

• The NSF mobile application.
• E-Service system on the NSF website.
• Scan the QR Code or call the Savings Hotline at 02-490-9000.
• NSF’s official Line account @nsf.th.
• NSF’s Facebook page.

Source:National Savings Fund - NSF