Simpan SSPN 'one of the best' for savings
KUALA LUMPUR: Malaysians have deposited RM26.07 billion in savings into the National Higher Education Fund Corporation’s (PTPTN) Simpan SSPN, with 7.74 million accounts recorded up to Sept 30, says its chairman Datuk Seri Norliza Abdul Rahim.
KUALA LUMPUR: Malaysians have deposited RM26.07 billion into the National Higher Education Fund Corporation's Simpan SSPN savings scheme, with 7.74 million accounts recorded as of Sept 30, according to its chairman Datuk Seri Norliza Abdul Rahim. This demonstrates Simpan SSPN's ongoing relevance as a top education savings option in Malaysia.
The chairman emphasized this success during the closing ceremony of BMS 2026 and World Savings Day celebrations. Simpan SSPN motivates Malaysians to begin saving for their children's higher education, potentially reducing the need for education loans. In September and October 2026, the scheme collected RM267.7 million in deposits, surpassing the RM250 million goal by 7.1%.
PTPTN anticipates that deposit collections will keep growing, leading to even better outcomes. A key factor in this achievement is the increasing number of parents taking early steps to save for their children's education. Simpan SSPN provides tax relief of up to RM8,000 annually and takaful protection, among other benefits. The scheme's prize draw campaign, part of BMS 2026, awarded nearly RM1.9 million to 1,060 winners.
BMS, launched in 2018, is the ninth annual event, promoting early financial planning for education and the advantages of saving in Simpan SSPN. The World Savings Day, celebrated on Oct 31 with the theme "AI advises, Human decides," highlights technology's role in financial planning while stressing the importance of personal discipline and commitment to saving.
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