Ptptn Encourages Savings Plans To Reduce Reliance On Education Loans

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PTPTN chairman Norliza Abdul Rahim said under the 2025 budget, the government has agreed to provide tax relief incentives on the net savings in Simpan SSPN, up to RM8,000 per year. (Bernama pic)
PETALING JAYA: The National Higher Education Fund Corporation (PTPTN) is prioritising savings initiatives to reduce public reliance on loans for higher education.
PTPTN chairman Norliza Abdul Rahim said this initiative is being implemented through the National Education Savings Scheme (Simpan SSPN), comprising Simpan SSPN Prime and Simpan SSPN Plus, Bernama reported.
“The benefits of Simpan SSPN are free takaful coverage for depositors, matching grants of up to RM10,000 for eligible families, competitive shariah-compliant dividends, and more.
“In the 2025 budget, the government agreed to expand the eligibility criteria for the matching grant under Simpan SSPN Prime accounts.
“This includes families with an income of between RM4,000 and RM6,000 whose children are pursuing higher education, under the Ihsan Matching Grant Initiative (Gapai).
“Eligible families can now apply for grants of up to RM5,000 per family over two years,” she said at the launch of the WOW! Simpan SSPN 2025 Campaign, also attended by PTPTN CEO Ahmad Dasuki Abdul Majid.
Norliza said Simpan SSPN Plus offers six affordable packages and comprehensive takaful coverage, with commitments from as low as RM30 up to RM500 per month.
“This product provides takaful coverage benefits of up to RM1.2 million, death benefits for depositors, their spouses and up to five children. This coverage is available until the depositor reaches the age of 69.
“Under the 2025 budget, the government has also agreed to provide tax relief incentives on the net savings in Simpan SSPN, up to RM8,000 per year, extended through the 2027 assessment year,” she said.
On the WOW! Simpan SSPN 2025 Campaign, Norliza announced that PTPTN is offering over RM1.5 million in prizes for 550 depositors, with the campaign running from Jan 1 to Dec 31. - FMT

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