NATIONAL Higher Education Fund Corporation (PTPTN) launched a “Spend While Saving” campaign to familiarise families with the National Education Saving Scheme (SSPN-i Plus).
The Shariah-compliant SSPN-i Plus financial planning savings scheme is a product by PTPTN and Hong Leong MSIG Takaful.
It was created to encourage consistent savings reserved for higher education through a combination of low premiums for contributions and comprehensive Takaful protection for unforeseen circumstances.
Venturing into a strategic partnership with giant textile house, Jakel Trading Sdn Bhd, the campaign was introduced in light of difficulties faced by Malaysians in saving for their children’s education.
As part of the initiative, PTPTN is offering several benefits to Jakel Mall visitors who spend a minimum of RM500 in a single receipt.
It includes the option to set up a savings account free-of-charge, as well as receive free SSPN-i Plus savings vouchers worth RM50.
PTPTN chairman Datuk Shamsul Anuar Nasarah said the programme sought to increase understanding among Malaysians on the importance of saving early for education.
“SSPN-i Plus automatically deducts a minimum of RM50 from your monthly income as part of the savings.
“In addition to the many benefits, we also hold lucky draws every three months amounting to RM3mil, for those depositing in the scheme.
“Jakel has also showed their full support by providing 2,000 of its employees with funds amounting to RM500,000,” he said, adding that the company acted as an example to others by playing a role to inculcate the saving culture .
Jakel group managing director and chief executive officer Datuk Mohamed Faroz Mohamed Jakel said the funds were divided then deposited into their SSPN-i Plus accounts.
“Hopefully, our cooperation successfully attracts people to make a positive impact on all parties as it encourages saving, a very useful addition in this unfavourable economic uncertainty that demands we spend wisely,” he said.
Since the SSPN-i Plus introduction in June up to Nov 30, the number of Takaful coverage granted to individuals dealing with death and disability due to accidents amounted to RM181.45mil, said PTPTN chief executive officer Agos Cholan.
Close to 3,000 people have opened SSPN-i Plus accounts.
“We are targeting a total of 10,000 accounts to be opened and RM450mil value in Takaful protection by the end of this year,” he said.
During the programme launch on Saturday at Jakel Mall in Kuala Lumpur, SSPN-i Plus account holder Md Shukri Mutammim Md Sharif, 54, from Pantai Dalam, received his lucky draw win.
“Winning was a bonus for me because saving for my son’s education was my main goal,” said the proud owner of a new BMW320i.
PTPTN has counters around Jakel Mall to provide savings vouchers and consultations for visitors. The ongoing offer ends on Dec 20, while vouchers must be redeemed on or before Dec 31, 2015, at any PTPTN branches nationwide.