Does tax exempt means that when I withdraw the money later to pay for my child college, the money will not be taxed? Does this means that other investment vehicles (e.g. Tabung Haji, ASB, unit trusts) will be taxed when I withdraw?

https://www.ptptn.gov.my/web/guest/simpanan/keistimewaan

Not sure what it means though, which is why I asked. Still not familiar with taxes since I'm only eligible to pay tax next year, so previously I didn't give a damn about taxes.

Ah, I see. Is this officially documented anywhere? I can't seem to find it by googling.

SSPN-i also comes with free takaful, but the T&C are not mentioned on their website. Only the following:

https://www.ptptn.gov.my/web/guest/simpanan/insurans

From the description, it seems like if you have say RM100k in your child's SSPN-i, PTPTN will provide RM100k life takaful which covers death and TPD. In other words, if you were to pass away, your child will get the RM100k in his/her SSPN-i, plus another RM100k as hibah. Sounds pretty good, though you might as well dump the 100k in ASB or unit trust for higher profit, and then purchase a life takaful yourself. RM100k life takaful (without savings) is quite cheap when you're young and not a smoker. If you're below 30 years old, it's only less than RM250 per year, or around RM20 per month.

If you need the T&C, you need to either call PTPTN HQ or go there. I went to PTPTN branch in Kinrara to ask for the T&C, but they told me only HQ can provide it.

By the way, is there still time to contribute to SSPN-i and be eligible for this year's tax relief? I haven't maxed the 6k, but last weekend I got a small windfall. Thinking of dumping it into my child's SSPN-i.

This post has been edited by imnotabot: Dec 27 2017, 10:39 AM

Any withdrawn almost 100% of SSPN before? Is it possible? If so, what is the process, and how long does it take before it is banked in?