PTPTN records RM1.3 bil in SSPN deposits up to Nov 30

SEREMBAN (Dec 30): The National Higher Education Fund Corporation (PTPTN) recorded RM1.3 billion or 87.05% of the total deposit of the National Education Savings Scheme (SSPN) for the period from January to Nov 30, compared to the target of RM1.5 billion for this year.

PTPTN chairman Wan Saiful Wan Jan said the amount saw an increase of 63%, compared with RM800.84 million recorded for the same period last year.

“A total of 385,288 SSPN accounts have been opened as of Nov 30 and it has reached 96.32% of the 2020 target of 400,000 new accounts.

“We expect the number of new accounts to continue to increase next year with the various promotions offered and we call on parents to take advantage of this opportunity to save for the future of their children,” he told reporters after the 2021 PTPTN schooling aid programme here today.

Commenting further, Wan Saiful said overall, since SSPN was launched in 2004 and until Nov 30, a total of 4.77 million SSPN accounts have been opened, with deposits amounting to RM7.19 billion.

“We hope the dividend rate offered by SSPN remains competitive compared to other financial institutions. In 2019, the dividend rate given was competitive at 4% and I think the profits earned should be shared with the people so that they also benefit,” he said.

Earlier, Wan Saiful in his speech at the programme said 410 students from low-income families (B40) in Negeri Sembilan today received aid totalling RM41,000 from PTPTN.

The assistance, which aims to alleviate the financial burden of parents, includes Mydin vouchers amounting to RM80 for the purchase of school supplies and RM20 in the form of SSPN-i account savings to each student.

Source: TheEdgeMarkets