The National Higher Education Fund (PTPTN) plans to improve its 'matching grant' incentive for its National Education Savings Scheme (SSPN) to encourage more parents to save for their children’s education.

Chairperson Wan Saiful Wan Jan said the PTPTN board of directors, during a meeting earlier this month, agreed to apply to the Finance Ministry for approval on the move.

He said the scheme, when it was implemented last year, provided a matching grant of RM500 only for those who deposited RM500.

“With the improvement, even if parents deposit RM10, PTPTN will give them an additional RM10 until the permissible limit of RM500,” he told reporters in Bachok today.

Wan Saiful said he hopes more parents, especially fishermen, farmers and smallholders, would take advantage of the incentive by opening SSPN savings accounts for their children.

- Bernama