PTPTN Savings Campaign Exceeds Target By Almost 37%

Alex Cheong Pui Yin

10th November 2020 - 2 min read

PTPTN has announced that its annual Bulan Menabung SSPN event has exceeded its RM110 million deposit target by 36.73% at a total of RM150.4 million, thus meeting its target of increasing public awareness of Skim Simpanan Pendidikan Nasional (SSPN) and the importance of saving for future educational purposes, especially among parents.

This year, the Bulan Menabung SSPN event took place between 1 to 31 October 2020 via PTPTN’s official Facebook page, running on the tagline of “Jom Jadi Superhero Anak Anda”. Meanwhile, the SSPN is syariah-compliant savings scheme introduced by PTPTN that allows parents to save for their children’s future education.

The chairman of PTPTN, Wan Saiful Wan Jan said that the Bulan Menabung SSPN 2020 event has successfully encouraged a habit of saving money among Malaysians. “The increased amount of savings in the same period compared to last year clearly showed that more parents are realising the importance of saving and planning for their children’s future education. This is the uniqueness of the SSPN scheme, which also enables nation building,” he said.

The chief executive officer of PTPTN, Ahmad Dasuki Abdul Majid further commented that the SSPN scheme can help with financial planning, as well as offer various privileges to its depositors. Among some incentives offered via the SSPN scheme include a maximum income tax relief of up to RM8,000 annually and free takaful coverage for eligible depositors.

“The Malaysian public is encouraged to continue saving through SSPN even during the Covid-19 pandemic as it offers various multiplied benefits to the depositors. You can also open SSPN accounts or deposit more money into your account through online channels, thereby making it more convenient, faster, and safer. Available channels include www.lovesspn.com or other internet banking avenues,” said Ahmad Dasuki.

2020 marks the third year that PTPTN is organising the Bulan Menabung SSPN event. PTPTN also said that it is committed to increasing public awareness so that Malaysians will save for their children’s education via SSPN instead of depending only on loans. It also hopes to turn PTPTN into an “education savings fund” and aims to achieve a target of RM1.5 billion in deposit by 2020.

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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