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 SSPN, Skim Simpanan Pendidikan Nasional

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studentsurvey
post Dec 31 2015, 10:44 AM

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is it easy to withdraw out the money from sspn?
studentsurvey
post Dec 31 2015, 10:51 AM

Getting Started
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Junior Member
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Hey guys, got a ques.. let's say if i save 6k today, is it easy to withdraw in jan and also would the 6k i saved be eligible for the 2015 tax relief?
studentsurvey
post Dec 31 2015, 11:06 AM

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QUOTE(LostAndFound @ Dec 31 2015, 10:56 AM)
Can, but then you won't be able to claim 2016 tax relief unless you put in 12k.

Best way to 'play' is probably to put 6k per year for a few years until its sizable amount (let's say you go for 5 years), then withdraw one short in the 6th year. 7th year start putting 6k again. This will result in much better interest rate (just put the withdrawn amount in some investment or long-term FD) IMO compared to every year just add and add.
*
Thanks for the prompt reply.
At year 7, i wont be able to enjoy the tax relief right? since it us suppose to the net difference between the year before and the current year's savings..
I am more concerned about withdrawing the money as I have heard stories that people are only able to withdraw only a small portion. Should this be of a concern?
Gonna try to go maybank and open the account before the year end to try it out.. hehe

 

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