INVESTING in your child’s future is a crucial step towards ensuring their educational dreams come true.
The National Higher Education Fund Corporation (Perbadanan Tabung Pendidikan Tinggi Nasional, PTPTN) remains committed and consistent in encouraging parents to engage in early financial planning for their children’s higher education.
PTPTN was established under the National Higher Education Fund Corporation Act 1997.
“Malaysians should take advantage of saving through Simpan SSPN, which offers various privileges and benefits to depositors,” says Norliza.Besides providing loans to qualified students for tertiary studies, since 2004 it has offered parents savings plans for their children’s future education through its National Education Savings Scheme (Simpan SSPN) to help them enjoy various benefits.
Simpan SSPN provides various privileges and benefits to depositors, making it a preferred choice for families across Malaysia.
It furnishes a straightforward and rewarding way to save for your child’s educational journey.
Why choose Simpan SSPN
> Income tax exemption incentive: Enjoy up to RM8,000 in annual income tax exemption on your savings, providing significant savings for education planning.
Simpan SSPN savings stands out as the exclusive savings product offering income tax relief benefits on net savings up to RM8,000 per year.
Parents who are Simpan SSPN depositors can individually benefit from income tax exemption on savings up to RM8,000 per year.
Additionally, for parents making joint tax assessments, both partners qualify for income tax exemption of up to RM8,000 per year per couple.
Unlock the potential of tax-free savings with Simpan SSPN and secure your child’s future education today.
> Competitive dividend rates and government-backed security: Rest assured with competitive dividends and the government’s guarantee on your Simpan SSPN savings, offering peace of mind and stability.
> Shariah-compliant savings and takaful protection: Simpan SSPN follows Shariah principles and provides takaful protection, ensuring ethical and socially responsible investment practices, and safeguarding secure savings for your child’s education.
> Matching grants: It provides matching grants of up to RM10,000 for eligible families.
Tax-free savings
PTPTN chairman Datuk Norliza Abdul Rahim emphasised the income tax exemption available through Simpan SSPN, offering up to RM8,000 per year in savings benefits.
“This unique advantage makes Simpan SSPN the standout choice among savings products.”
She urged all Malaysians to seize this opportunity and start saving with Simpan SSPN to enjoy the income tax exemption benefits for the assessment year 2024.
By choosing Simpan SSPN, depositors gain access to various privileges and benefits tailored to support their financial goals, she highlighted.
“Therefore, Malaysians should take advantage of saving through Simpan SSPN, which offers various privileges and benefits to depositors,” she added.
Impressive track record
> Total deposits: With over RM17.75bil in total deposits received as of March 31, 2024, Simpan SSPN has become the cornerstone of education savings nationwide.
> Accounts opened: Over 6.32 million accounts have been opened, reflecting the trust and confidence that families place in Simpan SSPN for their children’s education.
Growing community
PTPTN is also hosting the WOW! Kasih 2024 draw, offering cash prizes totalling RM100,000. Participate in its campaign and activities, and be one of the 181 winners.
The grand prize is RM10,000 for one winner, and consolation prizes are RM500 each for 180 winners.
This campaign is open to all Simpan SSPN depositors - Simpan SSPN Prime and Simpan SSPN Plus, from May 1 to June 30.
To encourage parents to save early for their children’s future, PTPTN introduced its Simpan SSPN Prime savings scheme in 2004, followed by Simpan SSPN Plus in 2015 which offers comprehensive takaful protection.
Joining this campaign is simple—depositors just need to open an account or add savings during the campaign period.
Every net deposit of RM50 into Simpan SSPN Prime earns one entry, while Simpan SSPN Plus depositors receive two automatic entries for every RM50 net deposit.
Furthermore, myPTPTN app users enjoy additional benefits with multiple entries.
Depositors of Simpan SSPN Prime who deposit a net amount of RM50 through myPTPTN, salary deduction, or direct debit will receive five entries.
Similarly, Simpan SSPN Plus depositors depositing a net amount of RM50 through myPTPTN, salary deduction, or direct debit will receive 10 entries.
“Save more, increase your chances of winning,” Norliza encouraged.
Take advantage of these fantastic opportunities and increase your chances of winning in the draw.
For your child’s future
Open a Simpan SSPN account today and start securing your child’s educational journey.
Account opening or additional deposits can be conveniently made online via the myPTPTN app, ensuring ease, speed and security.
To learn more, visit PTPTN’s official portal at www.ptptn.gov.my
