(Third from left) PTPTN chief executive Ahmad Dasuki Abdul Majid, Bagan Jemal assemblyman Chee Yeeh Keen, Norliza and Lim together with Simpan SSPN Prime account recipients during the Anak Emas programme launch at Mydin, Bukit Mertajam. — ZHAFARAN NASIB/The Star
BUKIT MERTAJAM: The state government and the National Higher Education Fund Corporation (PTPTN) through its National Education Savings Scheme (Simpan SSPN Prime) have officially launched the Anak Emas programme, aimed at encouraging parents to save for their children’s educational needs from birth.
Making it simple for parents to apply, the application process requires three simple conditions: the child must be Malaysian, registration must be completed before the child turns two years of age and either parent must be a registered voter in Penang.
At the launch held at Mydin, Bukit Mertajam, on Aug 3, PTPTN chairman Datuk Seri Norliza Abdul Rahim shared that she hopes the Simpan SSPN Prime would become the preferred choice for parents as consistent savings is crucial to secure their children’s educational future.
“There are numerous benefits offered by Simpan SSPN Prime, which is PTPTN’s savings product, including income tax relief on savings of up to RM8,000 per year, takaful protection for depositors, a free matching grant of up to RM10,000 per family and competitive dividend rates. Moreover, it is a government-guaranteed and Syariah compliant savings.“I urge government and private agencies to consider making Simpan SSPN Prime an incentive or gift when organising activities or programmes,” she said in her speech.
Social development, welfare and non-Islamic religious affairs committee chairman Lim Siew Khim who was guest of honour at the event said the response to the programme has been encouraging with 2,162 accounts opened in the first six months of this year (Jan 15 to June 30) with deposits amounting to RM216,200.
“This programme (Anak Emas) was introduced by the state government in June 2011 offering a one-off financial incentive of RM200 provided to children under the age of two.
“This year, the programme has been enhanced through the collaboration with PTPTN with RM100 provided to open a Simpan SSPN Prime account or adding a deposit to the account while another RM100 is given to bank account of eligible applicants.
“This new initiative is a comprehensive approach and will provide long-term benefits to children born in Penang, especially in terms of higher education.
“Saving from an early age is crucial to ensure that children do not depend on loans to continue their higher studies,” she said.
Keshni Devi, 29, who found out about the programme recently, said she immediately opened the account under her one-year-old son’s name.
“This will be beneficial for my son in the long run as I do not need to worry about his future education expenses.
“The incentives are better than other places and will help reduce the burden on us when the time comes for him to further his studies.
“I now save RM100 a month for him; when he turns 19, there will be ample money for him,” she said, adding that there is enough time for her to save up and avoid the need for a loan later on.
Keshni, who works as a service advisor, was quick to point out that she has been sharing the perks of having an account with her colleagues and friends.
“I know of many who have young children. This will be great for them,” she said.
Businesswoman Siti Hajar Azudin, 28, said she heard of the programme from family members and was grateful that the state had come up with such a collaboration with PTPTN.
“I want the best for my son and we realised that it should start when he is young.
“There are ample benefits including the dividends and takaful protection.
“We now save monthly for him and know that his future will be secure,” she said.
Siti Hajar said this programme would benefit parents as it eases their burden and encourages saving as well.
Apart from the Simpan SSPN Prime counter, the event also saw various booths set up for families to take part in including free health screening, a mini petting zoo and a robotic and Artificial Intelligence (AI) exhibition.
For details on the programme, visit isejahtera.penang.gov.my
