BMS 2023 Encourages Parents to Start Saving Early

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ALL parents want to be seen as their children’s superheroes. 

While parenting is not an easy job, one thing every parent can agree on is giving their children the best. 

An easy way to achieve that is for parents to invest in their children’s tertiary education.

In conjunction with World Savings Day on Oct 31, the National Higher Education Fund Corporation (PTPTN) has launched Bulan Menabung Simpan SSPN (BMS) 2023. 

PTPTN kickstarted BMS in 2018 to encourage parents to start building their children’s education fund as early as possible. 

This year, PTPTN launched BMS 2023 at Sunway Pyramid on Oct 1, 2023. 

The launch was officiated by PTPTN chairman Datuk Norliza Abdul Rahim. Also present at the launch were Higher Education Ministry deputy secretary Datuk Dr Megat Sany Megat Ahmad Supian and PTPTN chief executive Ahmad Dasuki Abdul Majid.

BMS 2023 will run from Sept 28 to Oct 31 at various locations across the country. – File pic credit (PTPTN)

Since then, the signature PTPTN programme has become an annual initiative with events, challenges and activities lined up every October. 

It is also an opportunity for parents to learn about the benefits of saving with Simpan SSPN, which aims to eliminate the need for them to take a loan for their children’s higher education. 

Unlike previous years, this year’s BMS initiative will see PTPTN conducting a nationwide road tour across all 14 states. 

The runner-up for the Simpan SSPN singing competition. – File pic credit (PTPTN)

Themed “Robotics: Towards the Transformation of the Digital World,” with the tagline, “Be your child’s superhero”, the road tour will have challenges, rewards, performances and competitions lined up for parents and children. 

The programme will kick off its first week in Selangor, followed by the Borneo and East Zone in the second week and then the Southern and North Zone in the third week.

The final stop will be in Kuala Lumpur from Oct 27 to 29, where a closing ceremony will be held. 

At Sunway Pyramid, there was a colouring competition, singing competition, e-sports challenge, talent competition, robotics session and ‘Bulan Menabung Simpan SSPN (BMS) 2023’ draw that awarded RM75,000 worth of cash prizes to 66 winners. 

Apart from that, PTPTN also held Cabutan WOW! Superhero!, an annual campaign to encourage savings and as an appreciation for Simpan SSPN depositors.

Local music artiste Didi & Friends and guest celebrities also made special appearances to live up the event.

SAVE WITH SIMPAN SSPN

Simpan SSPN is a government-guaranteed savings scheme for parents to build their children’s higher education fund.  

It offers tax relief amounting up to RM8,000 per year, takaful protection for depositors, competitive dividends, matching grants of up to RM10,000 per eligible family, shariah compliant and Government guaranteed savings.

Simpan SSPN depositors are also eligible to apply for an education loan. 

As of Aug 31, Simpan SSPN has received a total of RM15.81 billion worth of savings deposits. 

Norliza said: “Simpan SSPN’s yearly deposit amount has been significantly increasing every year since its introduction 19 years ago. Until Aug 31, we have received as much as RM15.81 billion worth of Simpan SSPN deposits, with the number of accounts amounting to 6.04 million. 

“This performance proves that Simpan SSPN is the best savings scheme chosen by parents in the country.”

She added that based on the past five years of well-received BMS initiatives, she is optimistic that BMS 2023 will achieve the same feat.

“This year, PTPTN is targeting RM220 million worth of Simpan SSPN deposits for BMS 2023. With promotional strategies as well as the support and cooperation of the community and organisations, I am confident that this target will be achieved. The success of the BMS initiative from 2018 to 2022 is the best benchmark for PTPTN to realise this goal,” she said. 

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