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 SSPN, Skim Simpanan Pendidikan Nasional

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LostAndFound
post Feb 10 2020, 10:30 AM

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QUOTE(xuzen @ Feb 10 2020, 10:21 AM)
Just Jompay RM 8,000.00 into kid's SSPN today. Sigh.. there goes my annual bonus. What we parents do for our kids...
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Well we had the choice not to have cool2.gif

ROI always insanely negative for children one la (unless yours gets to be multi-millionaire). Not meant for financial counting.
LostAndFound
post Feb 10 2020, 05:35 PM

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QUOTE(talexeh @ Feb 10 2020, 05:33 PM)
If one keeps repeating after the other with the same question, I think that constitutes spamming but hey, I'm not the mod so that's just my opinion.
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Traditionally spam is when a single (or a few) member keeps asking stupid questions.

The nature of SSPN (not much public awareness) means there will always be new people coming here to ask the same questions. Feel free to ignore (or scold).
LostAndFound
post Feb 12 2020, 04:10 PM

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QUOTE(MGM @ Feb 12 2020, 04:07 PM)
Then I can take out rm200k from FD, deposit into sspn on 30-April, once I get the 2k dividend, take 202000 out n put back into FD again. Doubt it works.
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Did you read T&C? Limited to RM8k only.

But yes, if you deposit RM8k you should get RM80.
LostAndFound
post Feb 12 2020, 04:32 PM

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QUOTE(MGM @ Feb 12 2020, 04:29 PM)
Not for me cos I no longer enjoy tax-relief, I have been putting in/taking out  funds from sspn like a saving account, so I assume that  I dont  qualify.
Unless if my balance on 5-2 is rm2000, and btw 5-2 to 30-4 funds in/out, then 30-4 closing balance is rm10k, so net increase of sspn is rm8k and yet qualify for the rm80.
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If you've withdrawn after the start date (within the past week) then no longer qualify according to T&C. Any withdrawal within the dates will disqualify.

I haven't done withdrawal yet so will just hold on till end April.
LostAndFound
post Feb 13 2020, 01:19 PM

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QUOTE(clickNsnap @ Feb 12 2020, 10:09 PM)
Thinking of transferring SSPN fund to Bank Islam, then transfer it to my regular bank... but limit transfer is RM5,000 per day... how to increase the transfer limit? Btw, my Bank Islam saving account comes without internet backing facility, walk in to Bank Islam and make the request?  hmm.gif
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QUOTE(yklooi @ Feb 12 2020, 10:15 PM)
if I am not mistaken,...atm transfer is RM5k per day, but if use internet banking...could be more....
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It is 30k. I have done 20+ k myself before.

Internet banking for Bank Islam needs a debit card I believe.
LostAndFound
post Feb 14 2020, 04:48 AM

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The amount 8k obviously refers to deposited amount not interest amount. Meant to match up to the amount for tax relief, and identical to last year's limit of 8k (rm40 interest)

This post has been edited by LostAndFound: Feb 14 2020, 04:49 AM
LostAndFound
post Feb 14 2020, 10:06 AM

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QUOTE(mIssfROGY @ Feb 14 2020, 09:59 AM)
hmmm but the statement does not seemed so leh...JUMLAH GANJARAN means REWARD AMOUNT not DEPOSIT AMOUNT

Maksimum jumlah Ganjaran Kesetiaan adalah RM8,000 untuk setiap akaun.
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So the fact that its 8,000 (which happens to be exactly the same as the tax deductible) is just a coincidence? rolleyes.gif

Language wise you're correct, but not logical.

In any case we will find out 2 months after campaign end. Until now due to Boost and clearing BigPay I already deposited more than 8k for my account, so if really it's reward amount not deposit amount I will be receiving more than RM80 and will report here.
LostAndFound
post Feb 14 2020, 04:27 PM

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QUOTE(MGM @ Feb 14 2020, 10:31 AM)
So for last year's campaign, u actually only deposited rm8000 but not on the 1st day of the campaign and yet get full 0.5% of rm40? And btw end of campaign and date of 0.5% dividend given did u make any withdrawal?
If that is the case can just deposit on 30April to enjoy 1% on 15-Jun. It is even  better if withdrawal b4 15Jun doesnt affect getting the 1%.
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Last year I had withdrawal during the period so did not get. This year I realise it's actually quite useful and no cashflow issue till end April so probably I will try and see what I can get.

Definitely I think 30 April deposit (be safe la, do one week before as can take a while to reflect) will get the 1%.
LostAndFound
post Feb 21 2020, 08:18 AM

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QUOTE(guy3288 @ Feb 21 2020, 02:20 AM)
Seriously??

Deposit RM800k on 30.4.2020 next day can earn RM8000?????????

5 accounts can earn RM40,000 just like that??????? better withdraw FD
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That's why doesn't make sense.

Anyway how you going to get 5 accounts? Unlike the misguided post above me says, it's counted by account holder. So if you open one account for each of your 5 kids you only get 1 reward (at whatever the cap is).

The only way is for you and wife to each open an account for kids. So 5 accounts needs 5 adults. Not 5 kids.
LostAndFound
post Mar 4 2020, 08:56 AM

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QUOTE(xiaobaiwm @ Mar 3 2020, 09:37 PM)
ok ah, 4% nominal if compounded monthly would be 4.07% p.a already
When is the dividend declearation period? based on the month you deposit (after 12 months get 4%) or need to pro-rated?
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Worth mentioning that this rate is not fixed and promised.....
LostAndFound
post Mar 6 2020, 01:08 PM

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QUOTE(lyc1982 @ Mar 5 2020, 04:31 PM)
assuming you are talking about same year 2020...if you wanna be eligible for sspn tax relief:
- keep the 8k in 1st kid account
- deposit fresh 8k in 2nd kid account

Or

don't withdraw at all
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Your answer is totally wrong if you see what he has previously posted. His deposit was 8k in 2019.
LostAndFound
post Mar 21 2020, 07:11 PM

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QUOTE(cucikaki @ Mar 21 2020, 06:40 PM)
Anyone deposited during the RMO and sspn balance updated? - i know it could take a few days but sometimes it’s reflected the next day
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My 19 Mar deposit from Boost already reflected.
LostAndFound
post Mar 23 2020, 11:24 AM

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QUOTE(leo_kiatez @ Mar 22 2020, 12:17 AM)
When reflected in sspni?
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By 21st? I did not check on 20th. Don't think will ever go missing (and I got my own accounts system where I will know for sure if anything missing and how much, so not really worried).
LostAndFound
post Mar 24 2020, 06:34 AM

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QUOTE(leo_kiatez @ Mar 23 2020, 08:32 PM)
What kind of account system you use to check?
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I keep track of every financial transaction in my own accounting system. Used to be Excel, then moved to MMoney, GnuCash, now I use something called beancount. A bit of work to record every transaction, but no possibility for 'surprise' transaction which cannot be traced.
LostAndFound
post Apr 5 2020, 06:40 PM

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Boost transactions on and before 1 Apr been updated, but 2nd Apr not yet. They've fully caught up now I think (2nd Apr will show tomorrow, next working day).
LostAndFound
post Apr 8 2020, 12:15 PM

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50 cents is worth it because you won't be earning interest while your money is in transit.
LostAndFound
post Apr 20 2020, 10:35 AM

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QUOTE(familyfirst @ Apr 20 2020, 08:46 AM)
Omg!  Almost didnt want to click and dont even remember got such content but so lucky to kena Consolation prize!  RM860 better than nothing lor!  Thank you for sharing this list.  rclxm9.gif

Didnt see the cash yet in my account but t&c which I googled said it takes up to 2 mths to be paid.
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How many and how much transactions you made?
LostAndFound
post Apr 20 2020, 04:55 PM

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Everyone speculating based on forum members guesses only. I think unlikely that is the issue as not only him doing SSPN deposit.

Whether its high frequency, high amount, high number of simultaneous deposit, who knows. e-Wallet provider does not do charity business, and they got no requirement to reveal to you what your 'mistake' is.

In my experience here at LYN, those who get banned normally got some 'hidden' behaviour which they do not say out, so no point to speculate as if what they tell out is 100% the reason.
LostAndFound
post Apr 23 2020, 01:46 PM

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QUOTE(MGM @ Apr 23 2020, 01:13 PM)
I am thinking of depositing 80k to my sspn-i account for this campaign b4 it ends on 30-April,
https://lovesspn.ptptn.gov.my/blog/ganjaran...aan-sspn-i-2020.
My money is in Ocbc360 and i have MBB and Bank Islam online accounts. Can I do it directly using Ocbc or MBB, or must do it via BankIslam?
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Have you tested how long the deposit take to reflect?
LostAndFound
post Apr 27 2020, 02:15 PM

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QUOTE(GrumpyNooby @ Apr 27 2020, 10:57 AM)
Something to ponder:
Can PTPTN sustain a nominal dividend rate of 4% for 2020 which will be paying out next year February? hmm.gif
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What makes you think PTPTN will give 4% next year?

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