Datuk Seri Mohamed Khaled Nordin (second from right) announcing the Simpan SSPN 3.05% dividend and bonus 1% as Simpan SSPN Prime loyalty, with PTPTN chief executive Ahmad Dasuki Abdul Majid (right) present.
NATIONAL Education Savings Scheme (Simpan SSPN) dividend of 3.05% amounting to RM266.17mil has been credited into the accounts of 5.73 million depositors from April 6.
Depositors can check their savings statement on the National Higher Education Fund Corporation (PTPTN) website (www.ptptn.gov.my) or via the myPTPTN app.
PTPTN which is committed to inculcate a saving habit among Malaysians from an early stage for education in the future also declared a Simpan SSPN Prime loyalty reward of extra 1% for 2023.
“This brings the total dividend distributed to depositors since Simpan SSPN was introduced in 2004 to RM1.33bil,” said Higher Education Minister Datuk Seri Mohamed Khaled Nordin who announced the payment on April 5. Present at the announcement event at the Higher Education Ministry were Deputy Minister Datuk Mohammad Yusof Apdal, secretary-general Datuk Seri Abdul Razak Jaafar, PTPTN chief executive Ahmad Dasuki Abdul Majid and, ministry and PTPTN officials.
According to PTPTN, the 2002 dividend which is higher than the 3% in 2021 reflects the corporation’s efficiency in managing savings funds to ensure optimal returns for depositors.
PTPTN said the 3.05% dividend shows positive investment returns when compared to the Overnight Policy Rate (OPR) of 1.75% to 2.75% set by Bank Negara for the period January-December 2022.
It said that the 3.05% dividend is a competitive rate as it is higher than that of bank savings accounts and fixed deposits, which was between 2.05% and 2.75% for 2022.
Mohamed Khaled said that Simpan SSPN deposits had recorded RM3.36bil last year, surpassing the target of RM2.8bil.
Investment gains on Simpan SSPN deposits for the year 2022 was RM321.65mil.
A total 491,984 new Simpan SSPN accounts were opened in 2022, compared to its target of 400,000 accounts.
“This achievement is 123% compared to the target of 2022. Such encouraging performance reflects the confidence and continuous support of Simpan SSPN depositors,” PTPTN stated.
Simpan SSPN account holders enjoy various privileges and benefits such as tax relief for deposits of up to RM8,000 per year, takaful protection, matching grant of up to RM10,000 for an eligible family, and eligibility for PTPTN loan.
The funds are government-guaranteed while the savings scheme is syariah-compliant.
At the event, Mohamed Khaled also launched the Simpan SSPN Prime loyalty reward 2023 campaign, which offers an additional return of 1% for depositors who make long-term savings.
Those who opened a Simpan SSPN Prime account between 2004 and 2019, and save a minimum of RM500 during the period between April 5 and July 31 this year, are eligible for the loyalty reward.
For further information, go to www.ptptn.gov.my
