PTPTN is re­ward­ing par­ents

SSPN-i Plus de­pos­i­tors may win RM100,000 in special draw, plus many other goodies

New Straits Times - - News / Story Of The Day -

KUALA LUMPUR

PAR­ENTS who save in the Na­tional Higher Ed­u­ca­tion Fund Cor­po­ra­tion’s (PTPTN) Skim Sim­panan Pen­didikan Na­sional (SSPN-i) and SSPN-i Plus ac­counts can stand a chance to win prizes worth up to RM500,000 un­der its Cabu­tan WOW! 20 Tahun pro­mo­tion.

PTPTN deputy chief ex­ec­u­tive (pol­icy and op­er­a­tions) Mas­tura Mohd Khalid says PTPTN is pro­mot­ing this year as a year of sav­ing for a fu­ture ed­u­ca­tion with the theme

She says to en­sure a bright fu­ture, par­ents should not rely on bor­row­ing money to fi­nance their chil­dren’s higher ed­u­ca­tion.

“We are hop­ing to raise aware­ness and in­cul­cate a cul­ture of sav­ing at a young age.

“A sound fi­nan­cial plan needs to be in place from the be­gin­ning, right when the child is born.”

She says par­ents can open a SSPN-i or SSPN-i Plus ac­count, which in­cludes taka­ful.

For the Cabu­tan WOW! 20 Tahun draw, those who open a SSPN-i ac­count can par­tic­i­pate in a monthly prize draw, while those de­posit­ing into the SSPN-i Plus ac­count can par­tic­i­pate in the monthly and special prize draws.

Mas­tura says par­ents of Year One pupils who de­posit at least RM50 into their chil­dren’s ac­count are el­i­gi­ble to join the monthly draw.

“They stand a chance to win RM10,000 in their sav­ings ac­count. Be­sides the main prize, there are also RM100 to be won by 100 peo­ple.”

The special prize draw will take place from this month till Oc­to­ber.

“The grand prize is RM100,000, which will be de­posited into the win­ner’s ac­count,” she says.

The sec­ond prize is RM10,000 and third prize is RM1,000 each for 100 peo­ple. There will be 2,000 con­so­la­tion prizes of RM100 each.

“We hope the prizes will at­tract more par­ents to open SSPN-i ac­counts for their chil­dren.

“Al­though there are par­ents who have started sav­ing when their chil­dren are young, the num­ber is still small, es­pe­cially among those with chil­dren en­rolling in Year One.”

Mas­tura says un­der the 2017 Bud­get an­nounced by Prime Min­is­ter Datuk Seri Na­jib Razak last year, an in­cen­tive of RM25 mil­lion has been al­lo­cated for par­ents who open an SSPN-i or SSPN-i Plus ac­count for their Year One chil­dren.

She says par­ents with at least RM50 in any SSPN-i or SSPN-i Plus ac­count will be given another RM50 de­posit un­der the al­lo­ca­tion as a “match­ing grant” in­cen­tive.

“Un­til June, only 3.7 per cent of Year One pupils, or about 16,000 of them, have ben­e­fited from this,” she says, ad­ding that there are about 439,000 Year One pupils en­rolled in gov­ern­ment schools.

This in­cen­tive is valid for those who de­posit be­tween Jan 1 and Dec 31.

“PTPTN would like par­ents to take up the op­por­tu­nity. Even though the amount is small, it will in­stil the cul­ture of sav­ing.”

Par­ents can choose to open an SSPN-i Plus ac­count un­der six pack­ages, with monthly de­posits rang­ing from RM30 to RM500.

She says another ben­e­fit of sav­ing with SSPN-i is the tax re­lief.

“The max­i­mum amount is RM6,000 per year and another RM6,000 for taka­ful un­der SSPN-i Plus ac­counts,” she says.

Mas­tura adds that the an­nual div­i­dend of sav­ing in SSPN-i is around four per cent.

PIC BY SURIANIE MOHD HANIF

Na­tional Higher Ed­u­ca­tion Fund Cor­po­ra­tion deputy chief ex­ec­u­tive (pol­icy and op­er­a­tions) Mas­tura Mohd Khalid says par­ents should take the op­por­tu­nity to save with PTPTN and ben­e­fit from the match­ing grant in­cen­tive an­nounced dur­ing the 2017 Bud­get last year.

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