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 SSPN, Skim Simpanan Pendidikan Nasional

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rapple
post Nov 24 2018, 08:44 AM

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QUOTE(enkil @ Nov 23 2018, 10:35 PM)
Very creative  smile.gif
Anybody have actually done it?
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Erm, not something new.

I already did it in:-

Nov/Dec 2015 - Deposit 6k then withdraw in Jan 2016
Nov/Dec 2016 - Deposit 12k then withdraw in Jan 2017
Nov/Dec 2017 - Deposit 18k then withdraw in Feb 2018


rapple
post Nov 27 2018, 10:11 AM

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QUOTE(ableze_joepardy @ Nov 27 2018, 09:02 AM)
how long it takes from withdraw request until get money?
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Within 7 working days
rapple
post Dec 11 2018, 04:18 PM

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QUOTE(alesi616 @ Dec 11 2018, 12:54 PM)
so the conclusion is cannot pay SSPN-I using credit card (for JOMPAY) rite?

will they allow swipe credit card if I go PTPTN office to pay ?
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IIRC, there's a time that they allowed it but after awhile the option to use credit card at PTPTN counters to deposit in SSPN-i is no longer available.

This post has been edited by rapple: Dec 11 2018, 04:19 PM
rapple
post Dec 17 2018, 03:29 PM

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QUOTE(potenza10 @ Dec 17 2018, 03:20 PM)
where u get this info?
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It's announced in Budget 2019.

https://www.comparehero.my/blog/budget-2019...-taxes-malaysia
rapple
post Dec 19 2018, 01:59 PM

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QUOTE(meteoraniac @ Dec 19 2018, 01:54 PM)
yo interested in this since i became parent last year

been reading quite a bit, just to confirm:

if i deposit 6k this year and withdraw jan 2019, i have to depo 12k end 2019 to be eligible for 2019 tax relief right? Yes

what if I deposit 6k this year (2018) then dont touch the amount for entire 2019, can i claim tax relief for both 2018 and 2019? or only 2018?
2018 ONLY
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Tax relief given is on NET SAVINGS.

2019 onwards is 8k tax relief.
rapple
post Dec 20 2018, 03:29 PM

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I went to PTPTN branch in Ipoh Greentown, they are so clueless that I just gave up using BigPay.
rapple
post Dec 21 2018, 01:54 PM

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QUOTE(cempedaklife @ Dec 21 2018, 11:43 AM)
for those who use jompay to deposit, how long it took to reflect in sspn website?
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just use FPX bro.

it's reflected immediately.

last time use M2U, takes at least 3 working days.
rapple
post Dec 21 2018, 02:37 PM

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QUOTE(cempedaklife @ Dec 21 2018, 02:35 PM)
aiya...already jompaid sad.gif
the fpx is from sspn site right? its abit noob interface. so. was thinking use jompay better  biggrin.gif
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Yes, the FPX on their main page once you login.


rapple
post Dec 22 2018, 11:15 AM

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QUOTE(Jty @ Dec 22 2018, 11:09 AM)
So it seems SSPN-i plus can use credit card, but the disadvantage is withdrawal can only be made after 3 years, is this correct?
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SSPN-i plus is a life insurance + savings plan that's why credit card payment it's allowed.
rapple
post Dec 23 2018, 03:16 PM

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Net savings for the year as stated, surely balance b/f is not included in it.


rapple
post Dec 24 2018, 01:09 PM

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QUOTE(fairylord @ Dec 24 2018, 12:46 PM)
thanks for your advice.

may be i shall make the tabulation much clearer.

Baki akaun 2018  RM6,000
Pengeluaran deposit of 2018 in 2019 (RM3,000) withdraw after tax filed - after May 2019
Penambahan deposit 2019 RM8,000
Simpanan bersih 2019 RM11,000
am i entitled 6k and 8k tax relief for both 2018 and 2019 respectively?
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Just forget about your 2018 balances and focus on 2019 transaction only.

Deposit 8k
Withraw 3k
Net 5k tax relief
rapple
post Dec 24 2018, 02:39 PM

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QUOTE(talexeh @ Dec 24 2018, 02:27 PM)
Even the PTPTN HQ in Penang Wel Quay has no idea about BigPay. They kept asking me for reassurance if it's indeed a debit card. sweat.gif
Yea, need to give them repeated confirmation that it's indeed a debit card (technically a prepaid card but oh well).
Can you share me how you check the current account information?
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https://www.ptptn.gov.my/saving/sspnlogin.html

After login, press your kids name / account number then you can view the transaction.

After that click "lihat terperinci" just below the statement.

This post has been edited by rapple: Dec 24 2018, 02:40 PM
rapple
post Dec 27 2018, 03:06 PM

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QUOTE(StupidGuyPlayComp @ Dec 27 2018, 01:14 PM)
May I know, if I deposit 12k in SSPN-i this year (1 child, single accoung)

I can tax relief 6k, my wife can tax relief another 6k?

or only 1 tax relief for each SSPN acc?
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Father deposit Baby 1 - 6k - Father tax relief
Mother deposit for Baby 1 - 6k - Mother tax relief

If you put 12k in just 1 account then only either father/mother can claim depending who register for it.


rapple
post Dec 27 2018, 03:39 PM

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QUOTE(StupidGuyPlayComp @ Dec 27 2018, 03:36 PM)
But 1 child only can open 1 account right? I only have one kid
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No.

You can open 2 account for your child, one under father name and the other under mother name.

Both my kids, have 2 account each.

This post has been edited by rapple: Dec 27 2018, 03:41 PM
rapple
post Dec 29 2018, 04:13 PM

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QUOTE(David83 @ Dec 29 2018, 04:10 PM)
Two separate SSPN account right even though under same kid name?
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Yes
rapple
post Jan 2 2019, 04:19 PM

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QUOTE(kino318 @ Jan 2 2019, 04:11 PM)
i go branch and try to withdraw.
staff ask me to wait till after 15 Jan, because sspn is updating data.
Is this normal?
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Every beginning of the year they have this update so it's normal.

I don't remember how long it takes them to update.
rapple
post Jan 16 2019, 10:43 AM

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QUOTE(lyc1982 @ Jan 16 2019, 10:38 AM)
but would you still get the interest ?
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Didn't really check on how they calculate.

Yes I do receive interest
rapple
post Jan 16 2019, 10:52 AM

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QUOTE(lyc1982 @ Jan 16 2019, 10:45 AM)
so you withdraw all in jan 2017...deposited all back in dec 2017 and still get interest for 2017 ?
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Yes but don't expect a full year of interest.
rapple
post Aug 12 2019, 10:25 AM

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QUOTE(guy3288 @ Aug 12 2019, 01:26 AM)
this game of deposit and withdraw can reset??? i thought the moment you withdrew money it will be forever recorded.

So if 2018 you are  minus RM30k (nett Deposit-withdraw=Minus RM30k), to claim  RM8k tax in 2019 you must put back RM38k.

I dont think you put RM0k in 2019 and then put RM8k in 2020 already can claim tax , because effectively  your account still minus RM30k in 2020.

hope i am wrong as i also  play that game and my minus is  >RM100k now, if can reset untung lah
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In 2018 I withdraw 8k from my daugther account and deposit 8k into my son account. I get 0 tax relief not knowing it's a combined statement at the end of the year.

Because this year theres no withdrawal from my daugther account so its actually possible

Deposit 8k 2019
Withdraw 8k 2020 no tax relief
Deposit 8k 2021
rapple
post Aug 12 2019, 01:51 PM

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QUOTE(wym6977 @ Aug 12 2019, 01:22 PM)
So if I understand correctly, it is combined statement (if more than one account) for the pendeposit and the net deposit is based on current year transactions (total deposit - total withdraw). So it is possible to "reset" after lapse one year am I right?
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Yes most likely it's for current year transaction only.

I will know by next year once the 2019 tax relief statement its available.

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