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 SSPN, Skim Simpanan Pendidikan Nasional

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LostAndFound
post Dec 2 2019, 03:17 PM

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QUOTE(Mervin1234 @ Dec 2 2019, 02:18 PM)
how to you link your Bank Islam / Bank rakyat...i cant seem to find the answer. is it have to go to the bank and ask them to link or go to sspn counter ?

Please help  notworthy.gif
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Not sure for Bank Rakyat, but for Bank Islam I went to bank counter to get it done, they told me can do at ATM and gave some instruction. I followed their instruction, but can't remember exact step. Maybe give them a call?
LostAndFound
post Dec 3 2019, 09:28 AM

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QUOTE(inspiron @ Dec 3 2019, 09:25 AM)
I just stumbled upon this thread.
a few amazing idea given in a few post above
things like deposit to get the dividend then take out the $$
deposit in Dec and take out in Jan to claim Income Tax
but I just heard that it's now automatic input for SSPN in income tax
meaning if you put in rm6k now and then take out in Jan, your income tax will show -rm6k
hope the member here can verify and confirm
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You 'heard', but don't give any source, then you want member here to check for you?

Go google for PTPTN number and call yourself la. Most of us here have our own plan and practice for SSPN usage already for years.
LostAndFound
post Dec 3 2019, 10:37 AM

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QUOTE(MasterConfucion @ Dec 3 2019, 10:33 AM)
anyone have trouble access sspn website semakan penyata? i can’t access since yesterday and when google it looks like a scam website now. wth is lovesspn lol.

they need to be more professional and give confidence to the people 🤦🏻‍♀️

that’s why ppl lose hope in our government
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What's so unprofessional about it? It's a website on an official government domain.
LostAndFound
post Dec 5 2019, 09:09 AM

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QUOTE(avinlim @ Dec 5 2019, 09:03 AM)
seem like they update only 1 time a week.

eg this week on 5th.

like if reloaded on 3rd. it will show today. just too 2 days.

if reloaded on 1st. it will take 5 days to show the update.
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For me it will show almost immediately but doesn't update on the main page. Weird system they have, lookslike got some manual task and some auto.
LostAndFound
post Dec 5 2019, 09:17 AM

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QUOTE(avinlim @ Dec 5 2019, 09:14 AM)
How immediately? I am referring to Boost to sspn.

it usually take me from 2-7days to get the amount in sspn account.
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Immediately for those which are directly SSPN transaction (within the day) for example at branch, or using Bank Islam ATM.

The Boost transactions take about 2 days.
LostAndFound
post Dec 8 2019, 07:48 AM

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QUOTE(firee818 @ Dec 6 2019, 09:29 AM)
Hi, Good Morning to all of you,

Due to misleading information, last Year (Year 2018) I had contributed a total of RM12000 into my two children SSPN-i account (each account with RM 6000 each), but only can deduct tax for RM 6000 only.

I was wondering whether I can withdraw that extra RM 6000 (because of non tax deductible in Year 2018) and bank-in again to my children account this year so that I can enjoy that tax deductible amount of RM 6000 in Year 2019?
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Short answer: cannot.

Long answer: SSPN tax deductible is annual, once the year is past its 'forgotten'. So for 2019 claim its very simple:-

Start the year with X ringgit in your account
Earned Y ringgit dividend (not taken into account when calculating tax deductible)
End the year with Z ringgit in your account

Your tax deductible is Z - (X + Y)

So if you withdraw the 6k, you're affecting Z (but X not affected).
LostAndFound
post Dec 16 2019, 09:38 AM

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QUOTE(avinlim @ Dec 16 2019, 08:13 AM)
To be simple, balance end of the year - balance at the beginning of every year = the amount u can claim tax relief for the year.

Bal 31Dec - Bal 1Jan = Amount can claim tax relief.

* Assuming not transaction on both dates.
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Don't do that.

Balance end of the year INCLUDES whatever interest you've earned in the year. So my Dec 31 2019 balance includes whatever I earned for amount maintained in 2018.

For income tax deductible need to exclude that amount.
LostAndFound
post Dec 27 2019, 10:04 AM

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QUOTE(Eurobeater @ Dec 27 2019, 09:47 AM)
Hi all,

Have a few question with regards to this account

1) What is the dividend rate for the past few years? It seems quite hard to find this on their official website.

2) Is it easy to withdraw funds from the account like a current account? Some say can, some say have to wait 3 years before can withdraw freely

3) Can the account be opened online or though a PTPTN branch or a bank branch (i.e Maybank)

Tq
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1) Last few years about 4% or so (have been holding in there for a while now but don't really take note the rate, the tax exemption is the main goal)

2) Yes, search 'bank islam' and 'bank rakyat' in this thread. Applies to SSPN-i, not the 'plus' account which I don't bother with.

3) Not sure, I opened at branch a long time ago (my eldest is 6 now).
LostAndFound
post Dec 27 2019, 12:04 PM

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QUOTE(chukahae @ Dec 27 2019, 11:37 AM)
Didn’t know you can transfer without cashing out. Will figure out how to do that at BR atm later. Thanks.

Regardless, you still being charged 50 sen either way right?
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Yes, but the limit is different. Withdraw cash max RM1500. Transfer is 30000 or something like that.
LostAndFound
post Dec 27 2019, 04:35 PM

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QUOTE(MGM @ Dec 27 2019, 03:33 PM)
Was at BI just now n adviced to open Qard Account w rm12 AF but with convenience of Internet banking n free IBFT. No need to use ATM for withdrawal n transfer. Any comment?
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I doubt it will be able to do withdrawal/transfer FROM SSPN.

In fact I don't think Bank Islam staff know much about SSPN. What he is telling you is probably internet banking/free IBFT for your Bank Islam account.

For me I have an easily accessible Bank Islam ATM in my regular route, so no issue. Anyway how often will you be withdrawing?
LostAndFound
post Dec 28 2019, 04:19 PM

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QUOTE(talexeh @ Dec 28 2019, 03:59 PM)
Wow, this is taking it to whole new level. Maybe you'll want to come up with some justification & T&Cs?
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Unethical I can accept, since we're accepting benefit for certain behaviour (saving for kid's education) without actually engaging in it through that channel.

Sinful? Don't speak for your (or our) god.
LostAndFound
post Jan 7 2020, 10:11 AM

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QUOTE(paogeh @ Jan 7 2020, 10:05 AM)
want to ask/confirm .

if i deposit 8K in 2019 ....from SEP--DEC  2019 ....

then in 2020 JAN , withdraw 8K out ....
can i do so ?

thank you
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Did you read previous post?

And of course you can withdraw, no one can stop you withdrawing.... you're asking the wrong question.
LostAndFound
post Jan 8 2020, 09:43 AM

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QUOTE(lyc1982 @ Jan 7 2020, 09:54 PM)
not sure how it works...

but my previous years dividend deposited on 1st day of the year
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It's not deposited on 1st Jan, it is declared later on (end Jan, or Feb, even late as May), then when it reflect on statement they will put the date as 1st Jan.
LostAndFound
post Jan 22 2020, 09:51 AM

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QUOTE(cenkudu @ Jan 22 2020, 08:38 AM)
new to this SSPN, does that mean as statement above, we need to have fresh 8K every year to get the tax rebate? Example 8K for taksiran 2019, 16k for taksiran 2020, 24k for taksiran 2021 to be deposit/in account in at least december to enjoy the maximum pelepasan cukai?
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Correct but don't forget that in 2020 you will get interest on your 2019 amount (assuming you didn't deposit on Dec 26th).

This interest is not counted as part of your fresh 8k. So by end of 2020 you need more than 16k inside actually.
LostAndFound
post Feb 4 2020, 11:56 AM

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QUOTE(swn525 @ Feb 4 2020, 10:57 AM)
1. bank islan can link to 2 sspn-i account?
2. i already have bank islam saving account, the linkage can be done in ATM machine? or must go counter?
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Yes, I have two SSPN-i account (one for each child) and no problem to link both. Just do at ATM (I had bank islam account before SSPN started this linkage thing).
LostAndFound
post Feb 7 2020, 08:22 AM

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Confirm nothing in since 1st Feb. Even the deposit I made over the counter also not yet reflected.

No rush la, hopefully that means these deposits will count towards the promo as well =p
LostAndFound
post Feb 7 2020, 10:15 AM

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QUOTE(MGM @ Feb 7 2020, 09:44 AM)
Can check at BI's ATM to see if balance is updated or withdrawable?
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Not passing by BI ATM anytime this week/weekend. Anyway I'm not too concerned since obviously during dividend period makes sense things are slow. We got all the deposit receipts after all.
LostAndFound
post Feb 7 2020, 11:02 AM

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QUOTE(lyc1982 @ Feb 7 2020, 10:50 AM)
then how come for 2 years straight LHDN requests for my sspn statements for audit purpose ?
confused.gif
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Audit they want to see your documents to see if you're honest. Even if they have already. Their job is to catch you ma.
LostAndFound
post Feb 7 2020, 02:08 PM

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QUOTE(lyc1982 @ Feb 7 2020, 02:05 PM)
but someone said sspn is linked with income tax shown on BE form...so why lhdn needs the proof again ?
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Any auditor that simply trust the data they're given is a bad auditor.
LostAndFound
post Feb 9 2020, 03:32 AM

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My over-the-counter on 3rd February just got reflected, however Boost transactions not yet.

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