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 SSPN, Skim Simpanan Pendidikan Nasional

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LostAndFound
post Mar 5 2022, 11:19 AM

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QUOTE(cklimm @ Mar 5 2022, 08:44 AM)
Has anyone went PTPTN office/counter?
any freebies like tabung/ umbrella?
Used to get some prior to Covid whenever I go deposit
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Look around your house, is there more than enough umbrella and crappy quality backpack already? I think more reasonable to deposit online rather than spend petrol and time for these minor freebies. Not to mention that if you have any PTPTN agent you can get the same freebies for larger deposit amounts, delivered to your house. Don't bother going to office/counter unless you need to (e.g. want to swipe specific debit card).
LostAndFound
post Mar 6 2022, 10:49 PM

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QUOTE(lioncarlsberg @ Mar 6 2022, 07:40 PM)
Can you describe more on this? In what way you increased the earning?
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Credit card rewards from campaign or cashback or whatever. Put into various ewallets or other accounts that can then be deposited to SSPN.
LostAndFound
post Mar 8 2022, 07:16 AM

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QUOTE(gooroojee @ Mar 7 2022, 09:44 PM)
I don't know. For tax relief you can't withdraw until your child is of age, I heard. SSPN accounts for own self don't enjoy tax relief.
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You should have stopped at first sentence. Because your second sentence is full on nonsense.
LostAndFound
post Mar 8 2022, 06:02 PM

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QUOTE(oli-78 @ Mar 7 2022, 09:24 PM)
This tactic is possible? Thinking of doing this for this year for tax refund
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In fact it is possible. Search this thread to find other's strategies. In fact the ganjaran kesetiaan in recent years is where people do this a lot (1% for a week deposit at first, then for 2 months, now 3 months).

Easy description - this is (currently) a savings account with some special benefits. The tax benefit is one of those benefits, and that is based on net deposit within a year.
LostAndFound
post Mar 9 2022, 01:18 PM

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Yeah my 4th March deposit already reflect.
LostAndFound
post Mar 9 2022, 03:25 PM

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QUOTE(magika @ Mar 9 2022, 01:36 PM)
So rewards vs interest using kipplepay and the likes. Will be missing dividen payment for the month.
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As I understand from discussing with PTPTN agent, you won't miss dividend payments. Dividend payments are calculated based on the recorded date in system, not on when system display is updated. I asked this before because the molpay method often takes like 2+ weeks.
LostAndFound
post Mar 9 2022, 05:04 PM

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QUOTE(magika @ Mar 9 2022, 03:37 PM)
Pls dont believe oral answer from agent. Recorded date in system display matters if not how to dispute, and like all deposit taking instituition, system display is the only proof you have. Like i have previously said maybe in some other thread , its just their personal opinion. Try to deposit earlier next time.

I did a deposit from Maybank2u before and the system display date is not to my liking, so henceforth i only use fpx.
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If you actually read what I said, it is the recorded date (which is what is shown in the left most column) which counts for dividend calculation. NOT when the system display is updated (which is when you actually can see the transaction online). You are arguing something totally different.

Anyway your answer is basically "don't believe the person who actually works there, instead you should believe me" because I didn't like what I saw previously on one occasion (which actually is a totally different situation from what the original question was). You win lor.
LostAndFound
post Mar 11 2022, 10:06 PM

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QUOTE(rocketm @ Mar 11 2022, 07:06 PM)

If I withdraw on between 6-30 of each month & deposit back before 5th on the following month, will I still entitle for the dividend for each month when SSPN announce dividend in the following year?
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Dividend is on lowest balance in each period. So that will not work. What does work is deposit before withdraw. Reduces loss of interest days. But those who play withdrawal game should plan to lose quite a bit of dividend anyway (mostly we don't mind, as we earn more than that already just by putting money to SSPN).
LostAndFound
post Mar 11 2022, 10:10 PM

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QUOTE(rinapua @ Mar 11 2022, 10:07 PM)
Hi....if use shopee pay to put in money...how many shopee coin can get? Thanks.

Example: pump in RM1000.
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Zero. Kosong.
LostAndFound
post Mar 22 2022, 09:01 AM

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QUOTE(MUM @ Mar 21 2022, 03:46 PM)
since you have asked and determined that outside package will cost more than getting from SSPN i plus,
and since you needed one,...then the answer to your " can ask is it better to get the SSPN plus with the monthly commitment for insurance coverage or the normal top up one?"...is clear

hope you did compare other things/benefits other than just the Accidental Death/TPD
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Just for everyone to note, SSPN Plus doesn't get the same income tax benefit as SSPN Prime (which is a primary reason for most to deposit). Not sure exactly how it is calculated, but definitely less straightforward. Last I checked it just counts under the life insurance deductible.



QUOTE(rocketm @ Mar 21 2022, 11:15 PM)
May I know 1 coins is equal to how many RM if we use it to deposit to SSPN?
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Shopee coins are always worth 1 sen each. Max you can claim is 3000 coins (RM30) at one go, and only 25% of paid amount max.
LostAndFound
post Mar 22 2022, 05:46 PM

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QUOTE(ohyes_02 @ Mar 22 2022, 04:52 PM)
Hi, based on my deposited and withdraw for year 2021 for SSPN prime, i suppose to get 1.2k interest if based on their calculator, but at the end my interest only RM150. is it something wrong?

user posted image
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That calculator is a bit misleading because they use minimum monthly balance. Also I'm not sure how you fill in the numbers, but timing of withdrawals is more important than net amount.

For example let's say February (6 Jan to 5 Feb). If you start the month with 4k, and deposit (6th Jan or later) 12k, your dividend is based on the 4k.

Even worse, if you start with 4k, then withdraw 4k on 6 Jan, and then deposit 200k on 7 Jan, your dividend is based on RM0 (minimum monthly balance).

Conversely, if you start with 4k, then deposit 200k on 6 Jan, and then withdraw 4k on 7 Jan, your dividend is based on the 4k.
LostAndFound
post Mar 23 2022, 08:24 AM

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QUOTE(ohyes_02 @ Mar 22 2022, 09:58 PM)
if based on this calculator, if i deposit before 5th of every month and withdraw after 5th, i suppose to get whole month interest.
this is what i understand
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doh.gif

See my example above. Your understanding is both faulty AND stupid.
LostAndFound
post Mar 24 2022, 12:00 PM

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You must understand the perspective of the agent, they have KPI to meet on how many customers (how much money) they 'bring in' every month. Those who bring in more KPI better, salary or bonus affected.

This is proven by them submitting your receipt of deposit, so they can claim those deposits as being sourced by them. This is why many offer value-added (gifts etc.) because its got value to them. Of course some only spam hoping for a few water fish.
LostAndFound
post Mar 25 2022, 08:31 AM

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QUOTE(CSW1990 @ Mar 24 2022, 11:41 PM)
I have 2 sspn account, 1st one is under my name open in 2008 for ptptn, 2nd one is under my kid name for tax relief.
For the recent ganjaran kesetiaan 1%, should will still get the 1% at the end if I take out all from my 2nd account and put into 1st account right?
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As long as you withdraw from ANY account under your name (both of the above accounts are your name) you will not get ganjaran kesetiaan on any account. So don't withdraw at all.

The only 'workaround' would be having another person's account consolidate into one. Most commonly would be you and your spouse both have an account for the child. Withdraw from your account (no longer valid for ganjaran) and put all into spouse's account (still valid for ganjaran as no withdrawal).
LostAndFound
post Mar 30 2022, 03:21 PM

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QUOTE(lovelyuser @ Mar 30 2022, 02:52 PM)
It's a little bit tricky here, in short, to entitle the dividend for the month, you need to deposit by 5th and stay till end of the month.

If you make a deposit on 6th April, you will not get any dividend for the month of April even no withdrawal, you will get dividend of May if you make withdrawal on/after 1 June.

When come to deposit, make it as late as 5th, if you missed 5th, then stay in KDI Save, net month put in SSPN before 5th.

When come to withdrawal, do not perform end of month, wait till 1st of the month.

So practically you can earn one month dividend by putting in only 25days (Feb), 27days or 28days.
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You reply to an older-than-a-week post... with WRONG INFORMATION which will cause people to lose dividend if they follow what you're saying, even though others have already given the right explanation within less than 24 hours to the original post. What nonsense is this? ranting.gif

This post has been edited by LostAndFound: Mar 31 2022, 10:10 AM
LostAndFound
post Apr 15 2022, 08:55 AM

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QUOTE(rinapua @ Apr 14 2022, 07:23 PM)
Hi guys, when we want to withdraw we have to key the bank account no. for them to transfer in the money to the particular bank account? How long it takes to transfer? thanks.
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Of course, how else the transfer going to take place? Also it must be your own bank account, not someone else's.

How long it takes is within 14 days. Sometimes can be fast (1 or 2 days), but just see history here, this month start of month it took almost the full 14 days to arrive. Plan accordingly.
LostAndFound
post Apr 16 2022, 09:36 AM

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QUOTE(guy3288 @ Apr 15 2022, 09:24 PM)

i suspect those go in and out ,
use it more to swipe credit cards for benefit and cash.
I doubt they can earn any interest of significance doing that way, better go do it at KDI,
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Why not both? Those who have decent cashflow can just leave it in after earning the credit card/ewallet benefits. Double dip in a relatively safe and liquid MYR asset. Especially when you have ganjaran kesetiaan. My total dividend earned last year was 4 digit, for example. Still less than the ganjaran kesetiaan amount (because I pumped a significant amount for those 2 months), but not insignificant.
LostAndFound
post Apr 17 2022, 08:19 AM

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QUOTE(MUM @ Apr 16 2022, 09:48 AM)
hmm.gif just wondering how to go for "both"?
when if i am not mistaken,...the current discussion pinned on,...

"if top up and withdraw quite frequent,"..... and "those go in and out"

while yours is just "IN"
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To go for both, the requirement is just that your out be delayed (for example less than once a month). Not in all the way (anyone doing income tax optimisation will want to withdraw by December latest anyway). Unless "in and out" is within a few days or a few weeks. Credit card also give minimum 20 days so with some planning is possible.
LostAndFound
post Apr 22 2022, 05:48 PM

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QUOTE(magika @ Apr 22 2022, 03:32 PM)
Two possibilities.

1. Deposit RM8000.00 after 5 December 2020 so it became January 2021 deposit.
2. Account suspended

Show screenshot of 2020 statement then everything become clear.
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Won't become clear at all, because if deposit after 5 December or before no difference in the 2020 statement appearance. Need to penyata from 2020 to confirm.
LostAndFound
post Apr 23 2022, 10:53 AM

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QUOTE(Watta?? @ Apr 23 2022, 07:53 AM)
Yup, if my memory serves me right, omly deposited somewhere in dec to get the tax relief, same for 2021 as well only deposited on the last few days of dec to get tax relief.. now i know... must deposit earlier 😅 nvr really checked previously
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Dividend is calculated monthly, so you deposit earlier doesn't mean you get 'full dividend' for it, it is pro-rated by month.

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