1m NSF members stop contributions

Around 1 million members of the National Savings Fund (NSF) have stopped making contributions to the fund due to their declining income caused by the adverse impact of the prolonged Covid-19 pandemic, said the fund’s secretary-general Jaruluk Ruangsuwan.

The fund has around 2 million members. They are workers aged 15 and above and are not members of the social security fund, the government pension fund or the provident fund, Ms Jaruluk added.

Around half of the NSF members stopped making contributions to the fund since last year. Despite this stoppage of contributions, the fund still gained 60,000 new members last year.

Ms Jaruluk said the pandemic had adversely hit low-income individuals.

The fund currently has a total of 10 billion baht. Last year it invested most of this on highly stable assets, with 7% invested in stocks.

The NSF is considering amending the…