what? SSPN not 6%?

Historical SSPN-i dividend payout rate is as below:

http://voyager8.blogspot.com/2019/01/ptptn...d-for-sspn.html

i see now. thank you sir!

Unless your tax bracket is high, SSPN-i is not a good long-term vehicle purely for returns purpose.
If your bracket is 25%, putting rm8000(tax rebate rm2000) for 18 years gives a return of 5.7%/year, assuming SSPN gives 4%.
Similarly for tax bracket of 14%, returns is only 4.9%. CMIIAW.

This post has been edited by MGM: Sep 17 2019, 10:12 AM

the tax rebate through SSPN is one of my method since it is available

dont see why i should ignore this if it's given out to rakyat

Called no free gift now. But they have road show 1st Oct. So should have something there.

Guys want to ask..is it possible to withdrawal all the money from sspn account? What I read :

Withdrawing Your Money
Unfortunately, withdrawing money from your SSPN account is not a simple task! Unlike normal savings accounts, SSPN has very strict rules when it comes to withdrawing your money. Depositors can only withdraw their money once a year, and the maximum amount that is allowed to be taken out is only RM500 or 10% of your total savings.

A 100% withdrawal will require either the beneficiary’s offer letter to local universities/colleges or a statement of the beneficiary “no longer wishing to participate in the educational process”; otherwise it is only possible in the event of the beneficiary’s/depositor’s death or incapacitation.

I have already withdrew 2x this year, leaving 5 to 20% in balance.

Ok... thanks for the clarification.

do note....you asked...."is it possible to withdrawal all the money from sspn account?"

as i think some here usually leave some balance in there...instead of "all"

5% to 20% balance is good enough. Worried only can take out rm500/year.

does the interest/dividend payout consist of the fresh 8k quote for yr 2019 ?

i got 960 dividend on 01/01/19. Do i just top up the balance 7,040 or 8,000 ?

You need to put on 8k to qualify for 8k tax relief.
If you put in 7040 you will qualify for tax relief of 7040.
The penyata perlepasan cukai from sspn shows clear details of the sumbangan bersih that qualify it.

thanks for the info.

You CAN withdraw all but that would equate to closing the account.

from the below post.... he does not seems to want to close the account

Yea, just wanted to make it clear that it's possible to do so. Guess I should have tagged him instead, my bad.

Wow, thanks

4% isn't very high returns, but it's quite stable (unless something really bad happens). Can't put all your money in high risk ventures, right? Treat SSPN is FD-equivalent, not bad vehicle to leave it in.

totally bro. i have multiple FD accounts on different bank and every 12 or 15mths once matured, i will move them depending on which one's highest.

in fact SChart jst offered me a 4.7% but its for 6 mths.

so i dont put all of them together permanently in a single one account/investment