Outline ·
[ Standard ] ·
Linear+
SSPN, Skim Simpanan Pendidikan Nasional
|
CSW1990
|
Jul 23 2020, 10:58 AM
|
|
just opened an SSPN-i account for my kid and my purpose is to use it for tax relief. so based on my understanding after reading the posts here. here are my plan: 2020: top up 8k in Dec for the net 8k tax relief 2021: take out 8k in Jan and top up 16k in Dec (-8000 + 16000 = net +8k) 2022: take out 16k in Jan and top up 24k in Dec …
is this plan ok to maximize the tax relief of SSPN? do I understand correctly? thanks.
|
|
|
|
|
|
CSW1990
|
Jul 23 2020, 11:27 AM
|
|
QUOTE(WaCKy-Angel @ Jul 23 2020, 11:18 AM) What is the purpose to open account? If just for savings then dont need SSPN-I just go for normal SSPN. I believe the age limit is for them to lower their risk, since SSPN-I comes with Takaful Insurance. Yes correct, but why SSPN-I ? u need the insurance? Alternatively u can skip 1 year and it will reset the amount, just that particular year u cant claim the tax rebate. 2020 -> 8K 2021 -> 0K 2022 -> 8K 2023 -> 16K I thought sspn-i is purely for saving and sspn-i plus are with takaful? am i understanding wrongly?
|
|
|
|
|
|
CSW1990
|
Jul 24 2020, 06:59 PM
|
|
QUOTE(zenquix @ Jul 24 2020, 02:55 PM) CSW1990note that you are forgoing all dividend with this method a deposit is only valid for dividend from the next month onwards i.e. deposit in Jan. it will be counted from Feb onwards. that said, at least based on experience deposit in Dec is still considered for tax relief for that year so not +1 month approach for that Yeah. My purpose is for the tax relief only.
|
|
|
|
|
|
CSW1990
|
Sep 4 2020, 05:19 PM
|
|
QUOTE(GrumpyNooby @ Sep 4 2020, 04:14 PM) Just an add up, Rm1 will be charged for each transaction through boost.
|
|
|
|
|
|
CSW1990
|
Oct 6 2020, 03:30 PM
|
|
QUOTE(TheLegend27 @ Oct 6 2020, 02:08 PM) many way la. cc top up boost and pay? Any way besides of Boost? I already reach max Boost (4999) top up to cash out my credit card from Opus . If got other reliable channel to cash out cc from SSPN then better My plan is to cash out as much as possible from future money to use now while park all on hand cash to investment.
|
|
|
|
|
|
CSW1990
|
Oct 6 2020, 05:05 PM
|
|
QUOTE(TheLegend27 @ Oct 6 2020, 04:58 PM) opus no "brokerage fee" ? i haven't try, but interested to know about this. how long it took? deposit and withdrawal? T+1 For details you may see at Opus thread, not good to discuss here
|
|
|
|
|
|
CSW1990
|
Oct 6 2020, 05:08 PM
|
|
QUOTE(TheLegend27 @ Oct 6 2020, 05:05 PM) ok. just last post. so u just in out only? after depo when reflected cashout? Yes Eg 1st day I buy using boost to top up 2nd day transaction shown in opus account, then I sell 3rd day second half day I received cash
|
|
|
|
|
|
CSW1990
|
Oct 7 2020, 05:25 PM
|
|
QUOTE(WeiFeng16 @ Oct 7 2020, 05:04 PM) Can I top up 10xRM100 using boost, boost daily transaction limit 1k max right? Currently my boost only level 2... Rm1 charged per transaction, are you ok with that? Go do donation Rm0.01 x25 times if your transaction count too less to level up This post has been edited by CSW1990: Oct 7 2020, 05:26 PM
|
|
|
|
|
|
CSW1990
|
Oct 10 2020, 10:37 AM
|
|
QUOTE(jiaen0509 @ Oct 10 2020, 12:59 AM) New to SSPN. I didn’t register for SSPN-i or SSPN-i Plus. But I can register SSPN account at https://www.ptptn.gov.my/saving/sspnlogin.htmlAfter registered successfully. Inside got RM21.xx. Is it the account I open at Maybank last time before I apply my Uni PTPTN? is it same? Or I need to open a new SSPN-i? Btw, single can deposit? Or must have child only can deposit and withdraw? Interest system on sspn how it works? Daily basic or? If single, deposit to that sspn-i account you opened for Ptptn, can get the dividend but not tax relief If for tax relief, open an account for your child and top up to 8k
|
|
|
|
|
|
CSW1990
|
Oct 12 2020, 02:29 PM
|
|
QUOTE(no6 @ Oct 12 2020, 02:05 PM) damm epf .... haha no luck then, back to mmf again If your purpose is to park the cash temporary, should stick to MMF and choose the one with higher rate and lowest redemption process time. In my opinion the redemption process time is important than the rate I don’t think it makes much different on daily interest on different MMF fund house or SSPN for temporary park unless you are going to park above six figures amount.
|
|
|
|
|
|
CSW1990
|
Nov 1 2020, 01:48 PM
|
|
QUOTE(ChiaW3n @ Nov 1 2020, 09:43 AM) Anyone having difficulty in paying to your sspn using boost this morning? Or it is only can do it on weekday? I am not too sure because this is my second time doing this No problem. I did this just now.
|
|
|
|
|
|
CSW1990
|
Dec 1 2020, 03:59 PM
|
|
QUOTE(memorylane @ Dec 1 2020, 02:22 PM) Can share what is the rational behind using TnG to pay SSPN, rather than using Boost? I’m interested to understand. Boost coinback plus credit card cashback isn’t better ? For myself I max out the boost spending every month without including sspn... thus need to find other tool which can get some extra pocket money if possible. I think some people use TNG or finding other eWallet to pay sspn due to this too
|
|
|
|
|
|
CSW1990
|
Dec 1 2020, 04:13 PM
|
|
QUOTE(memorylane @ Dec 1 2020, 04:07 PM) oh... no wonder. but in your case why not use M2U but use TnG which charged you RM3.5 per transaction...? any benefits for using Touch n Go? I didn’t use tng to top up SSPN. Used maybank2u via fpx last time. I think tng benefit is too little and most of the time it is useless.. Still look around if any good tool to pay sspn for next year 8k
|
|
|
|
|
|
CSW1990
|
Dec 9 2020, 09:20 AM
|
|
Can we top up sspn on exact 31/12 or need earlier to get the tax relief? Will there be any system maintenance or earlier cutoff in year end?
Previous years I always top up full 8k before December just this year so far no cash on hand now and still need top up 5k to maximise the tax relief. thus consider just to do it in last week maybe.
|
|
|
|
|
|
CSW1990
|
Dec 9 2020, 11:42 AM
|
|
QUOTE(cybpsych @ Dec 9 2020, 10:39 AM) FYR, announcement for last year i'd suggest you complete depositing asap. one thing to note is for Boost payment, the recorded date is the transaction date (via Boost), however crediting would be much later. if you intend to do on 31 Dec, it would likely credited by 6 or 7 Jan 2021, whereby it could be NOT counted for 2020 tax relief. you can check the how SSPN itemized within PENYATA RINGKASAN AKAUN SSPN UNTUK PELEPASAN CUKAIin 2021, i guess the delayed crediting would be recorded as BAKI TRANSAKSI BELUM DIKEMASKINI TAHUN 2020 (D)ok thanks, that's my concern maybe complete the transaction before 15/12 more safer to get the tax relief.
|
|
|
|
|
|
CSW1990
|
Dec 10 2020, 10:58 AM
|
|
QUOTE(GrumpyNooby @ Dec 9 2020, 11:43 AM) And any reason to wait till very last minute? Malaysia culture?  Haha, yeah malaysia culture is tunggu and sabar until last minute. This year more active in equity and bond fund market.. and last few months I can’t find reason for myself to cash out and park into sspn in this special year special market movement . Dragging until now have to do it to enjoy the tax relief
|
|
|
|
|
|
CSW1990
|
Jan 21 2021, 02:46 PM
|
|
QUOTE(MUM @ Jan 21 2021, 09:01 AM) if you deposit 1 million,....you may gets alot of gifts too Hmm, if one has one million spare cash to park at sspn, I think they not aim for those free gift liao haha. Can park with no risk and can buy some branded stuff they want next year
|
|
|
|
|
|
CSW1990
|
Jan 25 2021, 02:37 PM
|
|
QUOTE(familyfirst @ Jan 25 2021, 02:07 PM) Not sure which thread is appropriate to ask this question so let me try it here. Planning to withdraw 50k from SSPN (since child is close to 18 yo in coming years) but no idea where to place it after I withdraw. Close to retirement in less than 10 yrs, already contributing 20% to EPF (self contribution), have PRS, have several unit trusts, several fixed income funds and ASM (all 3). Anything else that can beat/same consistent return as SSPN other than the abovementioned? Would it be worth topping up/buying new unit trust and withdraw say in 8-10 yrs time? Thanks. If take out from sspn and slowly continuous invest into unit trust , eg 2000 per month , then the risk should be low. If take out from sspn and lumpsum put 50k into unit trust, can you digest the risk if market crash? FYI currently many stocks are in all time high, whether to enter now is up to you
|
|
|
|
|
|
CSW1990
|
Jan 30 2021, 07:47 PM
|
|
I just noticed the sspn withdrawal through online is so fast and it amazed me. Made the withdraw request on 28/1 3.50pm. The money received in my Maybank account on 29/1 night.. T+1.. park in SSPN better than put into MMF
|
|
|
|
|
|
CSW1990
|
Feb 3 2021, 03:47 PM
|
|
QUOTE(negayem @ Feb 3 2021, 02:45 PM) When is the best time to invest into SSPN? In the past, I invested twice (2019 and 2020) but no gifts at all. I'm ready to put in for this year but when is the best time to do it? I think as long as you have spare money to park then early of year is better to get more dividend ? I don’t think the sspn gift worth much. If you use boost to top up 999x 5 times per month, you get coins that can redeem for around rm40 petrol/ grocery voucher monthly
|
|
|
|
|