KUALA LUMPUR: Fostering a culture of saving is crucial for maintaining family financial stability and preparing for the rising costs of higher education.
National Higher Education Fund Corporation Chief Executive Officer Ahmad Dasuki Abdul Majid stated that parents who start saving early will not only ease future financial burdens but also secure a smooth educational journey for their children.
He revealed that PTPTN has introduced several initiatives since 2004 aimed at shifting the community’s mindset from relying entirely on loans to adopting the practice of saving via the National Education Savings Scheme.
Ahmad Dasuki noted that more than six million SSPN Savings accounts have been opened to date, providing benefits including a competitive dividend of 4.05% for 2024.
These accounts also offer income tax relief of up to 8,000 ringgit per year and free takaful protection for Simpan SSPN Prime depositors with at least 1,000 ringgit in savings.
He described Simpan SSPN as one of the best savings products in the world due to its attractive returns and Ringgit-for-Ringgit takaful protection.
In the event of death or permanent disability, the heirs will receive the full amount of savings at no cost according to the scheme’s benefits.
Ahmad Dasuki shared a real-life example where the heirs of a Federal Reserve Unit member who died in an accident received a total takaful payout of 193,000 ringgit from combined savings in Simpan SSPN Prime and Plus accounts.
He emphasized that although this amount cannot replace the loss of a loved one, it can help ensure the children left behind have enough money for their education.
The government has introduced the Matching Grant and the Ihsan Matching Grant Initiative through Budget 2025, offering extra incentives for families.
These initiatives provide up to 10,000 ringgit for families earning 4,000 ringgit and below, and up to 5,000 ringgit for those earning between 4,000 and 6,000 ringgit.
PTPTN is holding the annual Bulan Menabung Simpan SSPN campaign from September 26 to November 2 in conjunction with World Savings Day on October 31.
The corporation also organised a campaign themed “Adventure” with the tagline encouraging parents to become “real superheroes” by planning their children’s finances from the beginning.
To encourage the habit of saving, PTPTN is organising the WOW! Simpan SSPN 2025 Draw Campaign from July 1 to October 31, offering prizes worth over 200,000 ringgit to 130 winners.
The grand prize of 30,000 ringgit is available to depositors who save via the myPTPTN application, with these depositors eligible for double draw chances.
Simpan SSPN Prime depositors who save 100 ringgit via myPTPTN, salary deduction, or direct debit will receive five draw entries.
Simpan SSPN Plus depositors saving 50 ringgit through the same channels will enjoy 10 chances to win according to the campaign terms. – Bernama
