PTPTN OFFERS BENEFICIAL PACKAGES
Depositors can start with monthly commitment of RM30 to RM500
JOHOR BARU: Parents and guardians are getting savvier when it comes to choosing savings options for their children’s education, says the National Higher Education Fund Corporation.
Its deputy chief executive officer (Policy and Operations) Mastura Mohd Khalid said many parents were very aware of the packages available in the market including those offered by the corporation, better known by its acronym PTPTN.
Mastura spoke to The Star after presenting RM127,680 takaful protection benefits and savings to young musical talent Chai Bao Yi here yesterday.
Bao Yi’s father was a depositor of SSPNi Plus account, a financial planning product offered by PTPTN.
Her father Chai Kwan Boon passed away on Jan 8, this year from nasal cavity cancer. The 46yearold mechanic had suffered from the illness from 2015.
“I am planning to enrol in music studies and have shortlisted two local universities which offer the course majoring in piano,” said 20yearold Bao Yi.
Bao Yi has a diploma in piano from London and has been giving piano lessons to children and teenagers to earn extra income.
Also present at the event was her mother Soo Boon Siew, 47, a teacher at a primary school here. Bao Yi has two younger siblings sister Jing Min, 19, and brother Jun Chuen, 14.
Their late father had in November 2015, opened three SSPNi Plus accounts under the Emerald Package, one each for his children with a RM200 monthly commitment of which RM180 was for the SSPNi Plus savings and RM20 for takaful.
Mastura said that PTPTN offers six types of packages under the SSPNi Plus accounts which depositors could match with their financial capabilities.
They could start with a monthly commitment from as low as RM30 to as high as RM500.
The packages are Crystal Package at RM30, Ruby (RM50), Topaz (RM100), Emerald (RM200), Sapphire (RM300) and Diamond (RM500).
“SSPNi Plus is governmentguaranteed savings and we also distri bute competitive dividends with tax relief of up to RM12,000,” she said, adding that the products are syariah compliant.
Other benefits include funeral expenses for the depositor including the spouse and up to three children, hospital income benefit which protects one’s daily income when one is hospitalised, takaful protection for 36 critical illnesses, takaful protection of up to RM1mil, no medical examination and qualifying for PTPTN loan for tertiary education.
Mastura said PTPTN was encouraged to see nonMuslim depositors also subscribing to its products.
Mastura said a father and a mother were also allowed to open accounts for the same beneficiary like what Bao Yi’s mother did she opened the SSPNi Plus accounts for her children under the Crystal Package.
Mastura added that from the time SSPNi Plus was launched on June 8, 2015 until Jan 31, this year, there were 60,655 accounts with RM16.2mil deposits and takaful protection benefits up to RM2.9bil.
As of March 15, this year, 91 claims involving death and accidental and related cases had been settled with RM888,060 payouts to beneficiaries.
SSPN-i Plus is governmentguaranteed savings and we also distribute competitive dividends with tax relief of up to RM12,000. Mastura Mohd Khalid