PTPTN records RM1.3 billion in SSPN deposits up to November 30

The National Higher Education Fund Corporation (PTPTN) recorded RM1.3 billion of the National Education Savings Scheme (SSPN) being deposited from January to November 30.

The 87.05 percent of the total deposit is slightly lesser compared to the target of RM1.5 billion set for this year.

According to PTPTN chairman Wan Saiful Wan Jan, despite not reaching the target, the amount saw an increase of 63 percent compared to 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 percent 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 urge parents to consider this opportunity for the future of their children,” he addressed after the 2021 PTPTN schooling aid programme. 

He further commented that  a total of 4.77 million SSPN accounts have been opened with deposits amounting to RM7.19 billion since SSPN was launched in 2004 until November 30.

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

Additionally, Wan Saiful highlighted that 410 students from low-income families (B40) in Negeri Sembilan received aid totalling RM41,000 from PTPTN.

The assistance, which is intended to minimise the financial burden on parents, includes Mydin vouchers amounting to RM80 for the purchase of school supplies and RM20 in the form of SSPN-i savings accounts for each student.

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