Entitled, but what people are talking about is withdrawing for liquidity purposes. Deposit 6k in 2015, withdraw 6k at start of 2016. If still want to claim for 2016, by end of the year must deposit 12k. Then start of 2016 withdraw all, means by end of 2016 you need to deposit 18k.

Too much overthinking really. 4% or so is a good interest rate (not even taking into account tax benefits) for something which is pretty much guaranteed. You can't (shouldnl't) put ALL your money into those high return things like stocks or business, so why not just leave that 6k/8k a year in SSPN rather than trying to roll it yearly and get headache. It's better than savings accounts and most FDs.

Agree with cempedaklife, don't think too much, just start it. Immediately you can get back money from government via tax deduction.

Yes. It takes the amount on 31st dec minus 1st jan.

I'm wondering what it is point of doing the above:
Register online, deposit money in the morning, withdraw at BI ATM at the night.

I thought the whole idea of SSPN is for tax relief and child education fund.

I can forgo one year with RM 0 deposit and don't claim the tax relief for that year with no deposit.
The following year I deposit RM 8k.

Isn't this fulfill too right?

Year 1: RM 8k
Year 2: RM 0k
Year 3: RM 8k
Year 4: RM 0k

P/S: This is solely based on financial affordability. Government is NOT forcing everybody to contribute/deposit.

see B8 to see how the income sum are computed, then
see B9 or F19 to see how the jumlah perlepasan are computed, then
see B10 and B11 to see how the tax amount are computed.

http://lampiran2.hasil.gov.my/pdf/pdfboran...g_BE_2018_1.pdf

the reason i was asking ...

today during kopi sessions.

someone went to SSPN office to withdraw , the officer told him :

1. for 1st time withdraw  , the tax rebate would be deducted !!
2. only those kept more that 2 years are exempt ....
that;s why ...i'm asking here ....
can , withdraw , without penalty , right ?

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?

noob question from me...and i may have missed the info:

how to link BI to sspn account....must be via ATM or online banking can do also ?

thanks !

another question...both sspn and BI accounts must be under same name ?

Yes, that's their intention.
This year e-BE changes a lot!

Last month I have just open a new sspn-i account & BI account which are linked. Already deposited rm7k into sspn-i but when I tried to withdraw from sspn-i to BI via ebanking, I always get this "[0300010] - Amount exceeds transaction limit.". I have changed all the limits in the setting to 10k even though there is no category for sspn but the error persisted. Is the sspn limit fixed and cant be changed?

edit: I reduced the amount to 5k and it was successful. So is the limit for transfer of sspn to BI fixed at rm5k/day? Anyone has tried other bigger amount?

You need to change the limit at ATM machine.

I have withdrawed 8k in one shot without problem.

Yours also on 26/3?

I think boost has missed out 26/3 transactions 😭, I’m asking them via fb now. Later see how they response

e-pay?

Mines boost deducted , no refund at all. My transaction was 6:xx am

Dimaklumkan bahawa permohonan pengeluaran simpanan SSPN-i pada 07/04/2020 sebanyak RM8,031.77 telah diterima dan dalam proses kelulusan serta bayaran oleh PTPTN.

Bayaran akan dikreditkan ke akaun bank tuan/puan dalam tempoh 14 hari bekerja.

Lets see when the amount credited to my bank account.

I rather pay RM0.50 and get the money instantly from BI.

Anyway nice features for those who doesn't have BI or don't mind to wait.

Now can withdraw to Account easily through BI online  banking - just that it charge RM 0.50

Transfer yesterday. Next day they proceed already. They using IBG transfer.

** Received the email this morning.
Kindly be informed that PERB. TABUNG PEND. TINGGI NSIONAL -PTPTN has made a fund transfer to your account at CIMB BANK BERHAD on 08/04/2020 11:29:18 via ebanker.bankislam.biz.

The details of transfer are as follows:

earning cb by paying gov bill by PBB, how come you don't know?