PTPTN At 25: Securing The Future For Malaysian Children Through Innovative Financial Education Products

In 2020, Sonita Sudin from Kuantan, Pahang, drove house a brand-new Mercedes Benz C200 FL AMG Line, the grand prize of Cabutan WOW! SSPN-i Plus 2020

As dad and mom, one of the vital vital objectives is to make sure your baby’s well-being. Investing in your baby’s schooling stays the inspiration in guaranteeing a promising future, which is why saving up for it’s a key monetary aim for a lot of dad and mom. In any case, there are numerous advantages in relation to saving and planning forward in your baby’s future.

For starters, it presents a chance to work on that vital monetary aim in a extra manageable method, with the additional advantage of accelerating financial savings by compounding curiosity. By this, dad and mom might be higher geared up with the mandatory funds and funds for his or her baby’s schooling when she or he lastly units off for varsity. This not solely helps safe a vibrant future for the kid but in addition reduces the danger of debt that many younger graduates are shackled with at this time.

Recognising the significance of monetary planning for schooling, Nationwide Increased Schooling Fund Corp (PTPTN) has performed an instrumental position within the democratisation of schooling in Malaysia. Since its inception in 1997, PTPTN has aimed to make sure that no scholar is excluded from greater schooling due to monetary constraints.

Emphasising the significance of monetary administration

“Good monetary administration is essential today, particularly in relation to safeguarding our youngsters in opposition to the burden of studying debt,” says PTPTN CEO Ahmad Dasuki Abdul Majid. Happily, in Malaysia, there have already been numerous initiatives applied by the federal government to assist residents handle their funds.

The implementation of the Nationwide Monetary Literacy Technique 2019-2023 (Nationwide Technique) is a main instance, as it’s geared toward rising the extent of monetary literacy and fostering accountable habits and attitudes in monetary administration. PTPTN has additionally performed an instrumental position in advancing steps to create a extra inclusive panorama by offering financial savings devices by the Nationwide Increased Schooling Financial savings Scheme (Simpan SSPN).

In 2021, Khang Tsung Fei, a instructor from Kuala Lumpur, obtained a Gold Bar value RM150,000, the primary prize of Cabutan WOW! SSPN-i Plus 2021

“Because the main nationwide greater schooling fund establishment, it has all the time been PTPTN’s intention to assist the Malaysian neighborhood practise early, good and common schooling financial savings planning for the way forward for kids’s schooling,” says Ahmad Dasuki.

Because the nation’s fundamental schooling fund, PTPTN has been on the forefront of schooling funding for Malaysians. In 2004, it launched SSPN-i, a brand new financial savings instrument to assist dad and mom make monetary plans for his or her kids’s greater schooling.

To additional strengthen this effort, PTPTN launched one other financial savings product in 2015 named SSPN-i Plus. A financial savings plan designed to offer numerous advantages to depositors, SSPN-i Plus provides not solely aggressive dividends in addition to tax aid but in addition takaful advantages, hospitalisation and different vital advantages.

In 2021, PTPTN might be given a brand new look when it comes to emblem and product title. The empowerment of the brand new picture of this PTPTN financial savings product makes the SSPN-i product often known as Simpan SSPN Prime by sustaining the present privileges and advantages and the SSPN-i Plus product often known as Simpan SSPN Plus with the addition of extra enticing takaful advantages. With this new title, it is ready to make Simpan SSPN the primary financial savings possibility for greater schooling functions whereas constructing belief and a powerful model.

“Since PTPTN’s inception, now we have been dedicated to giving the most effective to our clients,” says Ahmad Dasuki. “We’ve continued to innovate, introducing new engaging merchandise, companies, advantages and financial savings devices in additional assist of the neighborhood and the shared aspiration for greater schooling.

Through the years, PTPTN has continued to reinforce its choices with value-added advantages, guaranteeing its place because the best choice for Malaysians in relation to schooling financing. As an example, depositors for Simpan SSPN Prime and Simpan SSPN Plus can declare as much as RM8,000 revenue tax aid per yr.

Moreover, if the depositors (husband and spouse) make separate tax assessments, they’ll open separate accounts for a similar baby to take pleasure in a most tax aid of as much as RM8,000 per individual. “Dad and mom who deposit financial savings in Simpan SSPN Plus are eligible to obtain tax aid of as much as RM11,000, which is as a lot as RM8,000 for web financial savings in Simpan SSPN and RM3,000 for Takaful contributions,” explains Ahmad Dasuki.

“Depositors who select the pension scheme are eligible to take pleasure in revenue tax aid of as much as RM15,000, which is as a lot as RM8,000 for web financial savings in Simpan SSPN and RM7,000 for takaful contributions. With the discharge of this tax aid and in addition the dividend price given, depositors of Simpan SSPN get a revenue of greater than 3%, topic to the tax price utilized.”

Together with aggressive dividends and government-guaranteed financial savings, each merchandise present depositors with further advantages similar to free takaful safety (with financial savings of RM1,000 and above) and eligibility for PTPTN schooling loans.

PTPTN has helped college students who face monetary issues after they lose their dad and mom. That is PTPTN’s contribution and repair to assist the Malaysian neighborhood realise their desires and ambitions by guaranteeing that kids proceed to obtain an schooling.” — Ahmad Dasuki, PTPTN CEO

Ahmad Dasuki notes that, because the introduction of Simpan SSPN greater than 18 years in the past, PTPTN has helped rework the mindset of Malaysians from considered one of borrowing to considered one of saving. “By emphasising the significance of creating monetary plans for the aim of schooling from an early age, now we have been in a position to produce debt-free graduates by Simpan SSPN,” he states.

In accordance with Ahmad Dasuki, the financial savings instrument created by PTPTN has helped overcome the dropout downside amongst college students who need to proceed their research as a result of this financial savings product has the advantage of takaful safety totally free. “PTPTN has helped college students who face monetary issues after they lose their dad and mom. That is PTPTN’s contribution and repair to assist the Malaysian neighborhood realise their desires and ambitions by guaranteeing that kids proceed to obtain an schooling.”

Fostering the tradition of saving

Ahmad Dasuki says the privileges and advantages supplied by PTPTN are designed to domesticate the saving behavior amongst Malaysians. It has additionally made the follow enticing with numerous campaigns and programmes similar to Cabutan WOW! Simpan SSPN .

“That is our annual signature programme, which provides profitable prizes every year,” explains the PTPTN CEO. “It serves as our token of appreciation for all Simpan SSPN depositors.” Depositors of PTPTN have already reaped the advantages of the raffle marketing campaign.

In 2020, Sonita Sudin from Kuantan drove house with a brand-new Mercedes Benz C200 FL AMG Line, the grand prize of Cabutan WOW! SSPN-i Plus 2020. A school lecturer by occupation, she has been saving with SSPN-i Plus for her three kids since 2018. In 2021, Khang Tsung Fei, a instructor from Kuala Lumpur, obtained a gold bar value RM150,000, which was the primary prize of Cabutan WOW! SSPN-i Plus 2021.

As this yr marks the twenty fifth yr of PTPTN’s institution, this yr’s raffle marketing campaign can be symbolic of celebrating success in empowering financial savings practices along with the silver jubilee. As such, Cabutan WOW! 25 Years of PTPTN has lined up extra wonderful and profitable prizes value as much as RM1 million which can be up for grabs. The marketing campaign contains three classes: the Silver Jubilee Annual Draw, Babyku Simpan Particular Draw and Collection Draw.

The principle prize of the Silver Jubilee Annual Draw is a Mercedes-Benz A250 AMG Line. The second and third prizes are RM100,000 and RM50,000 money respectively, and 22 Honda Sprint 125 bikes are lined up as comfort prizes. The Babyku Simpan Particular Draw provides a complete of RM250,000 money for 250 winners and the Collection Draw prize provides a complete of RM200,000 money for 75 winners.

“These are simply a few of the campaigns held particularly for Simpan SSPN depositors as a token of PTPTN’s appreciation. It is usually considered one of our efforts to foster the follow of saving at an early age,” says Ahmad Dasuki.

PTPTN has succeeded in enlightening many Malaysian dad and mom about saving for his or her kids’s schooling. As at Nov 30, 2022, the quantity of Simpan SSPN deposits obtained was RM13.38 billion, with a complete of 5.68 million accounts.

The success of that is mirrored in 2021 the place Simpan SSPN recorded deposits amounting to RM3.01 billion. This marked a document breaking achievement which exceeded the earlier three yr document, which is one thing PTPTN is exceptionally happy with.

PTPTN has additionally established strategic cooperation with numerous companies, authorities and personal our bodies to make sure that its position and performance because the nation’s greater schooling fund continues to develop. With this proactive step, PTPTN has introduced consciousness to the neighborhood, reinforcing its vital and vital position in offering all Malaysians with a gateway to greater schooling.

To search out out extra about PTPTN and its advantages, privileges and campaigns, go surfing to

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