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 (PTPTN) Chief Executive Officer Ahmad Dasuki Abdul Majid said. He emphasized the importance of early savings to ease future financial burdens and secure a smooth educational journey for children.
According to BERNAMA News Agency, PTPTN has introduced several initiatives since 2004 to encourage saving through the National Education Savings Scheme (SSPN) rather than relying entirely on loans. Ahmad Dasuki highlighted that over six million SSPN Savings accounts have been opened, offering benefits such as a competitive dividend of 4.05 percent for 2024, income tax relief of up to RM8,000 per year, and free takaful protection for Simpan SSPN Prime depositors with at least RM1,000 in savings.
'This Simpan SSPN is one of the best savings products in the world, as it not only offers attractive returns but also provides 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,' said Ahmad Dasuki. He also 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 RM193,000 from the deceased's Simpan SSPN accounts.
The government has also introduced the Matching Grant and the Ihsan Matching Grant Initiative (GAPAI) through Budget 2025, providing extra incentives of up to RM10,000 for families earning RM4,000 and below, and up to RM5,000 for those earning between RM4,000 and RM6,000.
Ahmad Dasuki added that PTPTN is currently running the annual Bulan Menabung Simpan SSPN (BMS) campaign from September 26 to November 2, in conjunction with World Savings Day on October 31. The campaign, themed 'Adventure,' encourages parents to become 'real superheroes' by planning their children's finances early on.
To further promote saving habits, PTPTN is organizing the WOW! Simpan SSPN 2025 Draw Campaign from July 1 to October 31, offering prizes worth over RM200,000 to 130 winners, including a grand prize of RM30,000. Depositors who save via the myPTPTN application are eligible for double draw chances. 'Simpan SSPN Prime depositors who save RM100 via myPTPTN, salary deduction, or direct debit will receive five draw entries, while Simpan SSPN Plus depositors saving RM50 through the same channels will enjoy 10 chances to win,' Ahmad Dasuki stated.