sspn is not a place where you can earn good returns...
it's mainly to reduce the income tax
SSPN, Skim Simpanan Pendidikan Nasional
SSPN, Skim Simpanan Pendidikan Nasional
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Nov 17 2019, 11:46 PM
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Senior Member
2,327 posts Joined: Jun 2015 |
sspn is not a place where you can earn good returns...
it's mainly to reduce the income tax |
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Nov 18 2019, 09:43 AM
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Junior Member
943 posts Joined: Mar 2011 |
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Nov 18 2019, 09:43 AM
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Elite
5,572 posts Joined: May 2011 From: Here, There, Everywhere |
QUOTE(lyc1982 @ Nov 17 2019, 11:46 PM) true and from another point of view, what U save = what U earn, right? IMHO: per input, up to $8K pa = 20%+/- "returns" first year (due to tax relief) + 4%+/-pa = dang good % * FOR SURE = hands down best "investment", at least for several years until the CAGR drops below 5%pa compounded XD This post has been edited by wongmunkeong: Nov 18 2019, 09:49 AM |
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Nov 18 2019, 11:58 AM
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Senior Member
2,600 posts Joined: Apr 2019 |
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Nov 18 2019, 03:38 PM
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Senior Member
1,090 posts Joined: Jan 2003 |
The amount we accumulated in SSPN account is real shocking after many years.
Able to discipline us to have some prudent saving for our future or child's future. |
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Nov 18 2019, 04:30 PM
Show posts by this member only | IPv6 | Post
#2186
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Junior Member
471 posts Joined: Apr 2010 |
QUOTE(wongmunkeong @ Nov 18 2019, 10:43 AM) true and from another point of view, what U save = what U earn, right? Hi Sifus.. do you know how the interest would be calculated? If I put 8K in December and wait till announced for the interest 4% in January for example, will I received RM 320 after that?IMHO: per input, up to $8K pa = 20%+/- "returns" first year (due to tax relief) + 4%+/-pa = dang good % * FOR SURE = hands down best "investment", at least for several years until the CAGR drops below 5%pa compounded XD |
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Nov 18 2019, 04:37 PM
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All Stars
13,207 posts Joined: Mar 2015 |
QUOTE(extinct_83 @ Nov 18 2019, 04:30 PM) Hi Sifus.. do you know how the interest would be calculated? If I put 8K in December and wait till announced for the interest 4% in January for example, will I received RM 320 after that? while waiting for his responses,...on this....I put 8K in December and wait till announced for the interest 4% in January for example, will I received RM 320 after that? I think it is NOT like that. think of it .....like bank FD rate.....will bank gives you 4% rate (RM320) in January 2020 if you to put 8K in December 2019 ? |
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Nov 18 2019, 05:52 PM
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Senior Member
2,600 posts Joined: Apr 2019 |
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Nov 18 2019, 06:24 PM
Show posts by this member only | IPv6 | Post
#2189
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Junior Member
428 posts Joined: Sep 2017 |
Just my 2 cents
Sspn interest 4% + boost 2% (level 4) + shake unknown % ( depends on luck) + boost mission ( depends ) The return is 6%+++++ Some may include tax relief % as well |
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Nov 18 2019, 09:24 PM
Show posts by this member only | IPv6 | Post
#2190
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Junior Member
471 posts Joined: Apr 2010 |
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Nov 19 2019, 08:52 AM
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Senior Member
2,600 posts Joined: Apr 2019 |
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Nov 19 2019, 01:43 PM
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All Stars
19,613 posts Joined: Jan 2003 From: Kuala Lumpur |
QUOTE(extinct_83 @ Nov 18 2019, 04:30 PM) Hi Sifus.. do you know how the interest would be calculated? If I put 8K in December and wait till announced for the interest 4% in January for example, will I received RM 320 after that? Put in December 2019 won't earn any dividend for 2019 ... my colleague didn't get his 2018 dividend when he open account Dec 2018. |
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Nov 19 2019, 02:20 PM
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Senior Member
1,311 posts Joined: Oct 2012 |
QUOTE(mephyll @ Nov 18 2019, 06:24 PM) Just my 2 cents Agree to the above. Even without Boost (2%), I still ok with 4% pa to park a little more than the 6k/8k per year since its quite liquid. Save some time hunting for FD deals here and there.Sspn interest 4% + boost 2% (level 4) + shake unknown % ( depends on luck) + boost mission ( depends ) The return is 6%+++++ Some may include tax relief % as well |
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Nov 19 2019, 09:08 PM
Show posts by this member only | IPv6 | Post
#2194
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All Stars
10,791 posts Joined: Jan 2010 From: KL/PJ |
QUOTE(mephyll @ Nov 18 2019, 06:24 PM) Just my 2 cents boost 2% (level 4) + shake unknown %, too bad I already hit 8k this year, wait for next year Sspn interest 4% + boost 2% (level 4) + shake unknown % ( depends on luck) + boost mission ( depends ) The return is 6%+++++ Some may include tax relief % as well |
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Nov 20 2019, 09:51 AM
Show posts by this member only | IPv6 | Post
#2195
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Senior Member
2,600 posts Joined: Apr 2019 |
QUOTE(mephyll @ Nov 18 2019, 06:24 PM) Just my 2 cents CCs (CB depending on CCs) -> Boost (guaranteed 2% + up to 17% bonus) -> SSPN-i (4% + 0.5% bonus if you qualified)Sspn interest 4% + boost 2% (level 4) + shake unknown % ( depends on luck) + boost mission ( depends ) The return is 6%+++++ Some may include tax relief % as well As a results, the return is min. 6%. This return is even better than OCBC 360 and other FDs. It is good to park our emergency fund. At the same time, it can be used to reduce the PTPTN loan amount for your kids. |
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Nov 20 2019, 09:54 AM
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Junior Member
368 posts Joined: Nov 2007 |
QUOTE(jefftan4888 @ Nov 20 2019, 09:51 AM) CCs (CB depending on CCs) -> Boost (guaranteed 2% + up to 17% bonus) -> SSPN-i (4% + 0.5% bonus if you qualified) Add one more levelAs a results, the return is min. 6%. This return is even better than OCBC 360 and other FDs. It is good to park our emergency fund. At the same time, it can be used to reduce the PTPTN loan amount for your kids. CC -> BigPay (Earn AirAsia point) -> Boost (guaranteed 2% + up to 17% bonus) -> SSPN-i (4% + 0.5% bonus if you qualified) |
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Nov 20 2019, 10:04 AM
Show posts by this member only | IPv6 | Post
#2197
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Senior Member
2,600 posts Joined: Apr 2019 |
QUOTE(lionking7791 @ Nov 20 2019, 09:54 AM) Add one more level CCs (Cashback depending on CCs) -> BigPay (Big Points = 0.1%) -> Boost (guaranteed 2% + up to 17% bonus) -> SSPN-i (4% + 0.5% bonus if you qualified) -> Tax Relief (% depending on your tax bracket).CC -> BigPay (Earn AirAsia point) -> Boost (guaranteed 2% + up to 17% bonus) -> SSPN-i (4% + 0.5% bonus if you qualified) As a result, return is min. 6% and above. Interesting? |
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Nov 20 2019, 01:34 PM
Show posts by this member only | IPv6 | Post
#2198
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Junior Member
428 posts Joined: Sep 2017 |
QUOTE(jefftan4888 @ Nov 20 2019, 10:04 AM) CCs (Cashback depending on CCs) -> BigPay (Big Points = 0.1%) -> Boost (guaranteed 2% + up to 17% bonus) -> SSPN-i (4% + 0.5% bonus if you qualified) -> Tax Relief (% depending on your tax bracket). CCs (Cashback depending on CCs) -> BigPay (Big Points = 0.1%) -> Shopback (2%) ->™Boost (guaranteed 2% + up to 17% bonus) -> SSPN-i (4% + 0.5% bonus if you qualified) -> Tax Relief (% depending on your tax bracket).As a result, return is min. 6% and above. Interesting? |
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Nov 20 2019, 02:36 PM
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Junior Member
328 posts Joined: Aug 2009 |
QUOTE(mephyll @ Nov 20 2019, 01:34 PM) CCs (Cashback depending on CCs) -> BigPay (Big Points = 0.1%) -> Shopback (2%) ->™Boost (guaranteed 2% + up to 17% bonus) -> SSPN-i (4% + 0.5% bonus if you qualified) -> Tax Relief (% depending on your tax bracket). Just take note, Shopback -> Boost (max cap per month is RM8). |
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Nov 20 2019, 03:02 PM
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Senior Member
1,311 posts Joined: Oct 2012 |
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