PTPTN is rewarding parents
SSPN-i Plus depositors may win RM100,000 in special draw, plus many other goodies
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.
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.