SAVING for one’s higher education must always be planned ahead, and not left until the eleventh hour. It is for this purpose that the National Higher Education Fund Corporation (PTPTN) recently launched an enhanced savings scheme called SSPN-i Plus.
SSPN-i Plus serves mainly as an education fund that also provides depositors with medical benefits and other forms of protection.
With the cost of education steadily rising, parents and students must be prepared to meet new demands and developments.
The corporation had earlier stated that parents must create savings accounts for their children at an early age instead of waiting until they were about to enter college.
Saving early helps parents plan for their children’s education and also acts an emergency fund in the event of unexpected situations.
Every individual should allocate some money for their savings and takaful, even if it is just a monthly contribution.
The aim of the scheme is to eliminate the common practice of saving at the last minute.
Introduced in May, SSPN-i Plus was designed as an improvised version of the SSPN-i account as it provides affordable and comprehensive takaful coverage to depositors from as low as RM30 per month.
There are medical benefits to be gained from the SSPN-i Plus savings plan.
Depositors are also eligible to enjoy a tax relief of up to RM12,000 per annum.
PTPTN also encourages the public to seize this opportunity by opening an account or by adding more deposits in either their SSPN-i or SSPN-i Plus accounts before Dec 31 to enjoy the tax relief this year.