Hi guys, if my child is only 1 year old, is it not advisable to put the funds in this sspn account since the fund will be locked for another 17 years?

Assuming 24% tax bracket, my saving would be 24%/17years=1.4%
plus whatever dividend declared annually, am I on the right track?

and another thing is about withdrawal:

Full withdrawal is only allowed in the following situations:

1) Child offered a place in approved higher learning institution.
2) Child voluntary withdrawal from education system.
3) Child has been expelled.
4) Suffering from incurable critical illness certified by doctor.
5) Depositor/child total and permanent disability or death.

Meaning that if my child going to oversea for uni, I wouldn't be able to withdraw my saving in sspn?

Thanks in advance for the clarification.

Apology for not reading thru the thread, will spend some time to go thru this thread.

Hi, are those over 55 years old eligible for the 6k relief if they put in monies for under their child's name?

Thanks for the info