Perak babies get a head start with RM600k education fund 

The Perak state government, in collaboration with Yayasan Perak, has earmarked RM600,000 to support the education of around 3,000 babies born this year through the Perak Children’s Education Savings Fund (TASPEN).

This initiative aims to foster a culture of educational savings for children born in Perak, providing them with a financial foundation for their future education.

Yayasan Perak contributes

Yayasan Perak, the trustee of the fund, announced the allocation of RM200 per child into the National Education Savings Scheme (SSPN) Prime Account.

This contribution is part of the state government’s broader ‘Tuisyen Cikgu Saarani (TCS)’ programme, focusing on educational support.

“The state government’s commitment to the education sector is reflected in this contribution to TASPEN, ensuring that each child receives a valuable head start in their educational journey,” stated Yayasan Perak.

The RM200 donation per child is deposited into the SSPN Prime Account, a dedicated long-term education savings account. Yayasan Perak expressed the hope that parents will continue to add to this initial sum, envisioning a significant fund by the time the children reach 18.

“For example, with savings of RM50 a month or RM600 a year, each parent will have savings of almost RM16,000, based on a four per cent annual return rate. This amount will certainly increase if the monthly savings are higher than RM50,” added the foundation.

Ensuring a promising start

Yayasan Perak highlighted that the government has allocated approximately RM6.47 million to this initiative, benefiting 32,351 babies since its inception in 2010.

The foundation, in collaboration with the National Higher Education Fund Corporation (PTPTN), manages the contributions.

Menteri Besar Datuk Seri Saarani Mohamad, who also serves as the chairman of Yayasan Perak, marked the birth of New Year babies by presenting RM200 TASPEN vouchers at the maternity ward of Hospital Raja Permaisuri Bainun (HRPB) Ipoh.

This gesture is part of the state’s commitment to supporting families and ensuring a promising start for the youngest members of the community.

A total of 18 New Year babies at HRPB received RM10,000 collectively as an initial contribution to their educational savings. This initiative reflects the government’s dedication to investing in the education of Perak’s future generations, setting the stage for a brighter and more prosperous future for these newborns.

Source: Bernama