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SSPN, Skim Simpanan Pendidikan Nasional

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besiegetank	Dec 16 2018, 11:33 AM Return to original view \| IPv6 \| Post #1
Enthusiast Senior Member 918 posts Joined: Aug 2009	What is the difference between SSPN and SSPN-i? I know SSPN-i plus is included insurance only. By the way, what are the documents required for opening of new account for own child? Just birth cert will do?
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besiegetank	Dec 16 2018, 02:06 PM Return to original view \| IPv6 \| Post #2
Enthusiast Senior Member 918 posts Joined: Aug 2009	» Click to show Spoiler - click again to hide... « QUOTE(MUM @ Dec 16 2018, 01:56 PM) looks like there is only SSPN-i (SSPN1M) and SSPN-1 Plus.... i maybe wrong , but I think the sspn is for previously no internet version according to this...."The Skim Simpanan Pendidikan Nasional (SSPN) or National Education Savings Scheme is a savings plan specially designed by Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) or the National Higher Education Fund Corporation to enable parents/guardians to invest for their children's higher education. " according to Maybank..... "Documents Required Completed SSPN Application Form Completed deposit slip with an initial deposit of minimum RM20.00 Copy of MyKad/Military Card/Police Card of the depositor Copy of MyKid/Birth Certificate/MyKad of the child Certification of Adoption (if the SSPN account is meant for an adopted child) Copy of Payslip/J Form/Confirmation of Income of Depositor and spouse (only applicable for depositors who wish to obtain Matching Grants ("Geran Sepadan") incentive." https://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts according to PTPTN ..... "Hanya Borang Pembukaan Akaun SSPN-i diperlukan." or use the online version.... Pembukaan Akaun SSPN-i https://www.ptptn.gov.my/pembukaan-akaun-sspn-i-side Thanks for the reply. I was just confused how come the requirement is different depending on which channel I registered. Looks like I may try the online version then.
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besiegetank	Dec 29 2018, 08:58 PM Return to original view \| IPv6 \| Post #3
Enthusiast Senior Member 918 posts Joined: Aug 2009	If both husband and wife filed separate tax then yes it is possible to open one SSPN account for each under the same child. In this case both are eligible to claim for 6k relief.
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besiegetank	Feb 2 2019, 04:54 PM Return to original view \| IPv6 \| Post #4
Enthusiast Senior Member 918 posts Joined: Aug 2009	Household income not more than 2k who will still put money in SSPN??? Do they really think it through before implementing this 'incentive'?
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besiegetank	Mar 12 2019, 10:20 PM Return to original view \| Post #5
Enthusiast Senior Member 918 posts Joined: Aug 2009	QUOTE(MUM @ Mar 12 2019, 07:20 PM) should be..... maybe inside here can find out the procedures.... ChILd ACt 2001 http://www.agc.gov.my/agcportal/uploads/fi...N/Act%20611.pdf lol, it takes much more money to rear a kid compared to the tax savings from sspn...
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besiegetank	Apr 15 2019, 11:24 PM Return to original view \| IPv6 \| Post #6
Enthusiast Senior Member 918 posts Joined: Aug 2009	» Click to show Spoiler - click again to hide... « QUOTE(wongmunkeong @ Apr 15 2019, 02:00 PM) tq tq time to see which bank = "terpilih" and how to hehe.. emailing them PS: urgh.. email address.. Facebook messaged them & sharing here - they fast PTPTN fellow said, and i'm copying/pasting here: "Ya, permohonan pengeluaran boleh dibuat dikaunter ptptn yang terhampir. Pengeluaran melalui mesin ATM juga boleh dibuat di Bank Rakyat dan juga bank Islam sahaja. Pastikan tuan mempunyai kad ATM bank berkenaan. Jika telah ada akaun dan kad berkenaan, tuan perlu aktifkan kad ATM berkenaan untuk pengeluaran akaun simpanan SSPNI. Pengkatifan kad perlu dibuat dikaunter bank. Tq" Why it has to be the 2 banks which I don't have account with? Anyway guess it is a start to include more banks in the future.
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besiegetank	Jul 4 2019, 07:09 PM Return to original view \| IPv6 \| Post #7
Enthusiast Senior Member 918 posts Joined: Aug 2009	Is using bigpay payment accepted at all PTPTN branch or only certain branch?
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besiegetank	Jul 6 2019, 11:42 PM Return to original view \| IPv6 \| Post #8
Enthusiast Senior Member 918 posts Joined: Aug 2009	Dear all, just to confirm, if both parents are having separate SSPN account for their child, then are they eligible to enjoy RM8k tax each (RM16k total) for the deposit this year? Assuming both of them are at 21% bracket, I guess they should max this saving first before venturing into other moderate investments such UT right? This post has been edited by besiegetank: Jul 6 2019, 11:43 PM
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besiegetank	Jul 7 2019, 12:06 AM Return to original view \| IPv6 \| Post #9
Enthusiast Senior Member 918 posts Joined: Aug 2009	QUOTE(talexeh @ Jul 6 2019, 11:57 PM) Yes, confirmed. Source: me & my wife. This question is subjective but if you're just looking to enjoy the tax relief, technically you just need to "park" your 16K for a period of ~1 month in SSPN-i. After that, you can withdraw everything & invest in anything else that you deem to be at >4%pa profitable. Thanks for the reply. So far I don't have any risk free investment which can generate >6% guaranteed profit for me to consider the hassle of moving the money around. I guess I will just remain the money inside. This save me the hassle also to consider other riskier investments such as UT until I max my SSPN account.
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besiegetank	Dec 1 2020, 07:59 PM Return to original view \| IPv6 \| Post #10
Enthusiast Senior Member 918 posts Joined: Aug 2009	For the 8k net deposit for tax rebate, is the dividend for that year calculated inside also? I saw from the statement it seems calculated as net deposit also so want to confirm
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besiegetank	Dec 1 2020, 08:04 PM Return to original view \| IPv6 \| Post #11
Enthusiast Senior Member 918 posts Joined: Aug 2009	QUOTE(GrumpyNooby @ Dec 1 2020, 08:01 PM) No. Tabungan bersih doesn't include dividend. Thanks for the info. Then the sspn statement seems misleading cause the net deposit amount included the dividend
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besiegetank	Nov 4 2021, 06:16 PM Return to original view \| IPv6 \| Post #12
Enthusiast Senior Member 918 posts Joined: Aug 2009	QUOTE(kykyky @ Nov 4 2021, 03:47 PM) Is it normal to wait to long for top up via Shopee to reflect in the account? It will need 3-5 working days to reflect in the account. So you need to minus all the weekends and public holiday.
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besiegetank	Feb 22 2022, 07:55 PM Return to original view \| IPv6 \| Post #13
Enthusiast Senior Member 918 posts Joined: Aug 2009	1% ganjaran means if I deposit RM8k then I will only get RM80? How to get up to RM8k?
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besiegetank	Dec 17 2024, 07:44 AM Return to original view \| IPv6 \| Post #14
Enthusiast Senior Member 918 posts Joined: Aug 2009	QUOTE(tan_aniki @ Dec 16 2024, 09:21 PM) next year only one parent to get tax relief right? then how is the calculation? combined from both parent? if starting balance combined means this year balance will affect the initial balance for next year a lot Only 1 parent can claim means you should deposit all 8k through 1 account only, either father or mother's. I think this is better since it means the other parent can just withdraw all the money from sspn since not eligible to claim already. lock_82 liked this post
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besiegetank	Dec 17 2024, 10:48 AM Return to original view \| IPv6 \| Post #15
Enthusiast Senior Member 918 posts Joined: Aug 2009	QUOTE(dudester @ Dec 17 2024, 10:26 AM) is it confirm no more tax relief next year? Either parents means each family can only claim max up to rm8k only from 2025 year of assessment onwards, as opposed to now where both parents can claim 8k each so rm 16k in total
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besiegetank	Dec 17 2024, 02:16 PM Return to original view \| Post #16
Enthusiast Senior Member 918 posts Joined: Aug 2009	QUOTE(dudester @ Dec 17 2024, 11:00 AM) I see. I thought you referring to no more tax exemption for 8k deposit. 2024 is suppose to be last year. Waiting for new extension announcement. According to the proposal it should be extended until 2027. I dont think why the government would not extend. But the tax relief will be max RM8k only per family
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besiegetank	Dec 18 2024, 10:14 PM Return to original view \| IPv6 \| Post #17
Enthusiast Senior Member 918 posts Joined: Aug 2009	QUOTE(tan_aniki @ Dec 18 2024, 08:59 PM) read my question properly as i'm talking about this year both parent taking tax relief on both individual. then how they gonna calculate 2025 tax relief starting balance, combined from both parent or just one individual. I'm not sure what do you mean. Even if both parents claimed this year, next year it will still be separated, not combined. So if the husband deposit RM8k nett next year and wife withdraw all her SSPN, the husband can still eligible to claim 8k tax rebate as far as I understand. It has nothing to do with the starting balance.
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besiegetank	Dec 19 2024, 10:50 PM Return to original view \| IPv6 \| Post #18
Enthusiast Senior Member 918 posts Joined: Aug 2009	QUOTE(guy3288 @ Dec 19 2024, 08:30 PM) thanx for reminding yes we must know the rules park in KDi can earn RM300+ I was hoping sspn can give 4% for this year amount
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besiegetank	Jan 5 2025, 10:54 AM Return to original view \| IPv6 \| Post #19
Enthusiast Senior Member 918 posts Joined: Aug 2009	Now 2025 already, since no official mention only limit 8k for one household it should be safe that this year still be max 16k for one household right for tax relief?
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besiegetank	Jan 6 2025, 08:07 PM Return to original view \| IPv6 \| Post #20
Enthusiast Senior Member 918 posts Joined: Aug 2009	QUOTE(mamamia @ Jan 6 2025, 05:00 PM) ok, in this case, SSPN will receive less than half of usual contribution.. as all husband n wife will withdraw all n deposit alternate year. 1 more question, anyone try to transfer between SSPN acc.. eg. transfer from wife acc to husband acc or vice versa. are the transfer is counted/ eligible for tax relief as deposit during the year for wife/ husband who receive the transfer? So, save the hassle yearly to withdraw... If husband and wife will take turns to deposit and withdraw, SSPN savings will be so much less. No one will save their extra money in SSPN due to the low interest. Did they really think thoroughly on this before implementing?
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