With the cost of living rising and the future becoming more uncertain, saving has become a necessity rather than a mere option. For parents, especially, building a financial buffer is essential to securing their children’s education and well-being, while also preparing for unexpected challenges.

The need to plan ahead is reflected in the experience of many parents who have turned to the National Higher Education Saving Scheme (Simpan SSPN) as a reliable means of building long-term security.

Beyond offering competitive dividends and tax relief, initiatives such as Geran Sepadan provide crucial support for households with low incomes, ensuring that education remains within reach.

For single parent Salahudi Musa, saving early was a conscious decision — he opened a Simpan SSPN Prime account in 2004 upon the insistence of his late wife.

“She pushed me to save, to secure our son’s future without having to depend on borrowings,” he says, adding that any extra money that came in went straight into their savings.

His son, Muhammad Ismat Daniel Salahudi, is a Geran Sepadan recipient, which helped cover his study expenses. He is currently pursuing a Diploma in Science at Universiti Teknologi MARA in Jengka, Pahang.

“The funds from Geran Sepadan help to cover my college fees and food expenses, so I am less worried about finances,” Muhammad Ismat says, adding that this has also eased the financial burden on his father.

Under Geran Sepadan, families with a monthly household income of up to RM4,000 can receive a matching grant of up to RM10,000 per family through this initiative.

“We are very grateful for the financial incentives under Simpan SSPN,” Muhammad Ismat says.

“Saving is very important to secure a future for your family while also serving as an emergency reserve,” says Salahudi.

Going beyond savings, Simpan SSPN also provides protection and reassurance for when life takes an unexpected turn.

For Maheran Ali, a mother of three, Simpan SSPN Plus became more than just an education savings plan; it turned into a lifeline when she faced a health crisis.

“I began saving with Simpan SSPN Plus in 2016, after finding out that I could start saving from as low as RM30 per month through monthly deductions,” she recounts. “The benefits were clear, so I decided to register.”

Maheran set up three Simpan SSPN accounts for each of her children, contributing RM90 per month.

She is grateful for the takaful coverage that comes with Simpan SSPN Plus, which covers critical illness and hospitalisation, as she fell ill in February 2024 and has since been on leave from work.

Her coverage entitled her to claim RM12,000 per account, totalling RM36,000, as she contributed to three Simpan SSPN Plus accounts. She also received an allowance of RM20 per day for ward expenses, which helped cover costs, as she was hospitalised for 40 days.

“Every parent should take advantage of this because the savings are not only for education but also for emergencies,” Maheran says. “With contributions starting from as low as RM30, it is accessible to everyone.”

Simpan SSPN Prime contributor Dr Sr Saiful Aman Hj Sulaiman was driven to start saving amid the rising costs of education. He opened a Simpan SSPN Prime account in 2016, when his child was two years old.

“Education is getting more and more expensive, so early planning is important. I chose Simpan SSPN Prime because it is specially designed for education, shariah-compliant and government-guaranteed, giving me peace of mind,” he explains.

He says the tax relief incentive is a significant plus, as it not only reduces the yearly tax amount but also serves as added encouragement for him to save more.

The government has extended this incentive for another three years, as outlined in Budget 2025, ensuring parents continue to enjoy relief of up to RM8,000 annually.

Besides that, he also values the competitive dividends, which help his child’s savings grow year after year.

Simpan SSPN has delivered consistent dividends and recently announced a 4.05% return for 2024, the highest in a decade.

Saiful says the automatic eligibility for a PTPTN loan also provides added confidence in future financial planning.

In addition, Simpan SSPN Prime account holders who have a minimum balance of RM1,000 in their accounts also enjoy free takaful protection.

“The free takaful protection is valuable, giving me peace of mind that if anything happens to me as the depositor, my child’s savings will remain secure and his education goals can proceed as planned,” he says.

Saiful advocates for all parents to start saving as early as possible, emphasising the importance of preparing for future expenses.

“Even with a small amount, the benefit will make a big difference in the long run,” he says.

In conjunction with the World Savings Day, which is celebrated on Oct 31, PTPTN is once again running Bulan Menabung Simpan SSPN (BMS) 2025 nationwide, for the eighth year.

This year’s theme, Adventures, carries the tagline “Jom Jadi Superhero Anak Anda”, encouraging parents to become superheroes in their children’s education by saving early and ensuring financial security.

Parents who begin financial planning early also set a strong example, demonstrating consistency and discipline in saving while nurturing financial literacy and responsibility.

These habits help children understand the value of money, the importance of planning and the rewards that come with perseverance.

The BMS programme runs from Sept 26 to Nov 2, 2025, with the launch ceremony held on Sept 27, 2025, at the national level and simultaneously organised across the country at selected locations.

In addition, the Cabutan WOW! Superheroes was held as a token of appreciation for loyal Simpan SSPN depositors. This prize draw offers up to RM200,000 for 130 winners.

To qualify, depositors need to save at least RM100 in Simpan SSPN Prime or RM50 in Simpan SSPN Plus (including takaful), with higher savings increasing their chances of winning.

Parents who are financially literate, disciplined and committed are true “superheroes” for their children, setting examples that shape not only financial behaviour but also the future of the family.

Through Simpan SSPN, PTPTN empowers parents to be the superheroes of their children’s future.

For more information, visit:

ptptn.gov.my/BMS2025/

ptptn.gov.my/CabutanWOW2025/