Pathum thani: The number of inmates saving money has exceeded 10,000, fostering financial literacy, supporting them in starting their own businesses, and reintegrating them into society as productive citizens.
According to Thai News Agency, the GSF has revealed that the number of inmates saving money has exceeded 10,000. In partnership with the Department of Corrections and the Thai Credit Guarantee Corporation (TCGC), they are advancing the "New Life Project Year 7," which is aimed at promoting financial literacy, supporting vocational training, and reintegrating offenders into society.
The National Savings Fund (NSF), collaborating with the Small and Medium Enterprise Credit Guarantee Corporation (SMEG) and the Department of Corrections, is spearheading the 'New Life Project, Year 7.' This initiative provides career opportunities and financial security to inmates before their release. The project has demonstrated notable success in terms of membership and savings growth, highlighting its capacity to instill financial discipline for retirement. The event was held at the Central Juvenile Correctional Institution in Pathum Thani Province on July 31, 2026.
Ms. Theeranuch Thongchiw, Assistant Secretary-General of the National Savings Fund (NSF), stated, 'The NSF prioritizes building a stable financial foundation for all Thais, especially prisoners, who are considered valuable human resources on their way back to society. The 'New Life' project, now in its seventh year, has received an excellent response. Currently, there are over 11,214 prisoners as NSF members, spanning 70 prisons nationwide. Meanwhile, accumulated savings in 2025 exceeded 18.5 million baht, or more than double, reflecting a clear understanding and awareness among prisoners regarding the importance of financial planning for retirement.'
For its next phase, the National Savings Fund (NSF) plans to expand the project to encompass all 143 prisons and correctional facilities nationwide. The goal is to encourage inmates to develop saving discipline for their retirement pensions and to ensure comprehensive access to government welfare benefits. At this event, the NSF awarded a savings incentive of 20,000 baht and 301 savings passbooks to new members, with the Department of Corrections entrusted with the custody of these passbooks for return upon release.
Mr. Chan Wachiradej, Deputy Director-General of the Department of Corrections, presided over the ceremony. Also present was Mr. Mokul Posayapisit, Senior Vice President of Finance at Thai Credit Guarantee Corporation (TCGC), who contributed to the initiative by providing entrepreneurial knowledge and access to funding. TCGC delivered a special lecture on "Preparing for and Starting a Career with TCGC Guarantee Programs," and the Government Pension Fund (GPF) provided information on "Saving for Retirement." These activities aimed to equip inmates with a path to stable employment after release. A "Startup Business, Build a New Life" kit was also distributed to inmates preparing for release, in commemoration of His Majesty the King's birthday. A key condition for TCGC's consideration of funding and loan support is that the inmates must demonstrate discipline in saving with the GPF.
Ms. Theeranuch added, 'This collaboration is not just about teaching them to save money, but about igniting 'hope' and 'opportunity' for a sustainable new life. With vocational skills from the Department of Corrections, revolving funds from the Thai Credit Guarantee Corporation (TCGC), and secure savings from the Government Pension Fund (GPF), we are confident that they will return to become a vital force in driving the Thai economy and society with pride.'