Tuesday, August 20, 2013

Are You Paying Your PTPTN Study Loan?

Today's news on The Star Online published that Perbadanan Tabung Pendidikan Tinggi National (PTPTN) loan defaulters to be put on bad credit list. I am proud to say that I had paid 85% of my PTPTN study loan. I paid my first study loan exactly as written on the PTPTN study loan agreement. And since then, I diligently pay my PTPTN study loan every month. Occasionally I checked my PTPTN account statement through their epay services. I did received the hardcopy of account statement through mail but I still find the most convenient way is through the epay services.

I think the amount of the loan repayment is not a problem for most working graduates. Just that, these working graduates must understand and take the initiative to make the payment accordingly to the agreement. Just like when you're purchasing a new car, you need to pay the loan repayment on monthly basis, according to the hire purchase agreement. The difference is that, for hire purchase agreement, if no payment received certain period of time, the car will be taken away from you. In term of the amount, I believe the PTPTN loan repayment amount is much lesser that the monthly payment a new graduate is spending on his/her new car.

It's important for us, the 'customer' of PTPTN to pay our  monthly study loan accordingly so that the younger generations which might be our younger brothers, sisters or our nieces, nephews or even our kids to enjoy this PTPTN facilities and so that they can have financial assistant in their tertiary education. Isn't it one way for us to be thankful to PTPTN for giving us the opportunity to complete our desired diploma/degree/master degree is to pay back the study loan? 

If you have not started pay your PTPTN, take the initiative now. It's never to late. Whatever we borrow, we must pay back.

Saturday, August 10, 2013

Preparing for our retirement...

Retirement... sounds like a wonderful destination for us, the wage earner. When he heard of retirement, we imagine of happy and joyful seniors enjoying their life after many years of hard labor.  These seniors will have plenty of time to do things they love. For example, go yamcha (tea drinking session) with friends, travelling to new places they wish for, spend time with loved ones and many more...

But, are we prepared for our retirement? Will our EPF savings be enough to fund our retirement years? Will we be able to maintain our current lifestyle when we retire? These are among the critical questions we need to ask ourselves so that we can better prepared ourselves for retirement.

Today's articles on The Star Online gave me some additional information about preparing for retirement by investing in Private Retirement Scheme (PRS), a voluntary long-term investment scheme designed to assist individuals to accumulate savings for retirement. You can read the full article here

PRS is something new. So, I don't really have much information. I do really hope that PRS offer some help for us to prepare for our retirement. Share with me what you think.