BMS 2024 ENCOURAGES PRACTICE OF SAVING

KUALA LUMPUR, Oct 26 (Bernama) -- A total of RM19 billion deposits from the National Education Savings Scheme (Simpan SSPN) savings product has been received, with the number of accounts totalling 6.61 million as of Sept 30, 2024.

National Higher Education Fund Corporation (PTPTN) chairman Datuk Seri Norliza Abdul Rahim said the Simpan SSPN will continue to remain a competitive product and become the primary education fund of choice for parents for higher education purposes.

“In this two-decade period, I am optimistic that with the support of customers, PTPTN can achieve the BMS 2024 (Bulan Menabung Simpan SSPN) deposit target of RM220 million," she said in a statement in conjunction with the closing of the BMS 2024 today.

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“In Budget 2025, presented by Prime Minsiter Datuk Seri Anwar Ibrahim recently, the individual tax relief on net savings in the SSPN Savings Scheme has been extended for another three years until 2027.

According to Norliza, this effort reflects the government’s support in encouraging savings from an early age for higher education, and the initiative should also be a golden opportunity for parents to save through the Simpan SSPN.

BMS is PTPTN's main programme in cultivating the savings’ habit and promoting the Simpan SSPN.as the preferred savings product for the local community.

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This year marks the seventh year of its organisation since 2018, and it is an effort to widely disseminate the benefits of Simpan SSPN to Malaysians in conjunction with World Savings Day, celebrated annually on Oct 31.

“Simpan SSPN offers various privileges and benefits such as income tax relief of up to RM8,000 per year, takaful protection for depositors, competitive dividends, matching grants of up to RM10,000 for eligible families, Shariah compliance and government-guaranteed savings."

“In conjunction with the 20th anniversary of Simpan SSPN, for the first time, PTPTN launched a Simpan SSPN song titled ‘Terbang Tinggi’, which symbolises PTPTN's commitment to fostering the practice of savings among the Malaysian community," according to the statement.

Also held were the presentation of appreciation certificates to BMS 2024 strategic partners and the awarding of prizes to the winners of the Cabutan WOW! Simpan SSPN 2024 and Pertandingan Simpan SSPN Got Talent.

This time, BMS had a fantasy theme and retained the tagline "Let's Make Your Child a Superhero," which promotes ideas and creativity to stimulate children's imagination and cognitive development, allowing them to explore new knowledge and experiences while showcasing their potential.

The theme was also significant with the PTPTN moto “ ‘Your Opportunity to Succeed’," which fulfils children's dreams of achieving success through diligent effort and good financial preparation.

Among the interesting activities provided were the SSPN Colouring Contest, Pertandingan Simpan SSPN Got Talent, Simpan SSPN Costume Competition, Jenga Family Competition Simpan SSPN, special appearance of P&T Simpan SSPN, special appearance of Didi & Friends, Snap & Win and Happy Hour.

-- BERNAMA