Works only IF:
1. when withdraw on 6th year,
we willingly "give up" on 6th year's XX% tax relief

2. and on the 7th year, SSPN "resets" as we were "missing for 1 year" (6th year)

I'm interested in doing it BUT unsure whether (2.) happens or not (reset).
If doesn't "reset", like a previous forumer shared - coz on the 7th year, put in $6K pun tak cukup because took out say $20K 2 years ago (ie. net inwards still -$14K)

However, IF the credit card is still acceptable AND can make points/cashback... heheh...
every year withdraw 100% (eg $20K $26K $32K etc as it grows)
then year end or close to Dec,
plonk back in via credit card +$X,xxx

(2) Should happen since the simple calculation is deposit for the year - withdrawal for the year.

The method is pretty clever. I think I'll try that 

"Pengeluaran - Pendeposit hanya boleh membuat pengeluaran selepas 3 tahun dari tarikh pembukaan akaun dan jumlah minima yang perlu ada didalam akaun simpanan adalah sebanyak RM1,000.

For those at high income tax bracket of 24%; RM 6,000.00 x 24% = RM 1,440.00 tax savings.

SSPN gave out 4.5% dividend: RM 6,000.00 x 4.5% = RM 270.00

RM 6,000 - 1,440.00 = RM 4,560.00 actual capital invested. Future value is RM 6,000 + 270 = 6,270.00

Hence profit per annum = (6270 -4560) / 4560 x 100 = 37.5% gain. Apa lagi lu mau?     

Xuzen

Yesterday printed the SSPN 2015 tax relief statement.

Today submitted the withdrawal

Officer said will takes time due to 2015 closing but it's ok. I pay less tax by at least 600 and that's an instant 10% return.

Today got my money back from SSPN. Less than 7 working days.

eh. statement for my 2015, dividend was given on 01/01/2015.
how come 2016 did not show dividend yet?

Indeed, just checked online statement, reward points credited. Just thinking out loud if next year withdraw all my money out (roughly RM25K), then re-deposit again. Withdraw again, re-deposit again.. I can easily earn lot of reward points to exchange gadget

Today got my money back from SSPN. Less than 7 working days.

How to withdraw? Go to any SSPN office and fill up withdrawal form??

Today got my money back from SSPN. Less than 7 working days.

Did you close the account ? Or withdraw most of it ?

I am ineligible for the Tax relief.

Do not have insurance.

Is it worth it to open an account for the Competitive dividends and Free Takaful coverage?

imho better go for asb which gv higher dividens, and for takaful coverage u can buy from any insurance provider.

I just use cc to pay sspn last week