PEOPLE who save with the National Education Savings Scheme (SSPN) for the educational needs of their children and dependants may win more than RM150,000 cash or a Proton X70 Premium sports utility vehicle (SUV) in a draw this year.
The National Higher Education Fund Corporation (PTPTN) has allocated RM1.1mil to reward 1,726 depositors in its prize draws, in a move to attract more people to save with SSPN for education.
The grand prize in the Cabutan 15 Tahun SSPN-i annual draw is RM151,515.15 cash, while the main prize is the Proton X70 Premium SUV.
“We introduced Cabutan 15 Tahun to mark the 15th anniversary of SSPN-i,” said PTPTN public relations and event management senior general manager Abdul Ghaffar Yusop.
There will be two prize draws – Cabutan 15 Tahun for SSPN-i depositors and Cabutan WOW! for SSPN-i Plus depositors – and both will feature Cabutan Siri (series draw, three times between July and December) and Cabutan Tahunan (annual draw).
“We hope that these prizes will attract parents to choose SSPN for educational savings, which is transparent and recognised by the Government,” he said, adding that SSPN is a syariah-compliant savings plan for education.
Abdul Ghaffar said PTPTN has set a target of 500,000 new accounts and RM1bil in deposits this year.
“We managed to achieve 678,829 new accounts and RM1.13bil in deposits last year,” he said.
As at May 31 this year, 4.1 million accounts have been opened with total savings in the scheme amounting to RM4.9bil.
He said that the Federal Government, the state governments and 6,000 “friends of PTPTN” have been supportive of the scheme, while several organisations have offered SSPN products as competition or event prizes.
PTPTN would continue to participate in various platforms including career days, financial literacy programmes and other related events to create awareness and promote its products, said Abdul Ghaffar.
“Our representatives from PTPTN branches in all states will go to the schools to present the benefits of our products.
“We want to change the mindset of Malaysians, that education is not solely the responsibility of the Government, but a partnership between the parents and the Government. We want the parents to place saving with SSPN as their first option,” he said.
Abdul Ghaffar said qualifying families (whose household income is not more than RM4,000) which have SSPN-i savings could also enjoy matching grants of up to RM10,000 per family for their children to pursue higher learning.
SSPN-i account holders enjoy privileges such as tax relief for deposits up to RM8,000, competitive dividend, free takaful coverage, and eligibility for PTPTN loan.
SSPN-i Plus introduced in 2015 is a government-guaranteed savings scheme which provides tax relief for deposits up to RM11,000 (RM8,000 in SSPN-i Plus and RM3,000 in takaful contribution), takaful protection of up to RM1mil in the case of death or permanent disability, funeral expenses, attractive dividend, and eligibility for PTPTN loan for tertiary education.
“There was a father in Negri Sembilan who opened three accounts worth RM30. He died in a road accident on the way to work later. We gave RM127,000 in compensation to his family,” he shared.
Depositors who opt for the pension scheme get tax relief for deposits up to RM15,000 (RM8,000 in SSPN-i Plus and RM7,000 in takaful contribution).
For further information, go to www.lovesspn.com.