Our DPM just launched SSPN-i Plus on 8 June 2015
Below is the features:-
1. Education plan with affordable n takaful coverage
2. Savings from RM50 a month
3. Competitive returns
4. Tax relief up to RM12,000 pa
Website ---> http://www.ptptn.gov.my/web/guest/sspn-i-plus1

Personally, I'm keen on item 4

Welcome to give comments on how tis product work n how it can benefit tax payers to reduce income tax

So, can we withdraw the savings in case of rainy day?

Reads funny, like a Gov propaganda thinggy
Anyhow, i think the tax relief is broken down to 2:
1. $6K for SSPN-i and SSPN-i PLUS
2. $6K for Takaful
http://www.ptptn.gov.my/web/guest/pelepasan_taksiran_cukai

That means.. IF takaful = life insurance... bwhahaha.. my EPF contribution already blown that portion out of the water...
and the returns for the takaful wasn't too clear based on my glancing (guilty - it's late, tomorrow will re-read the whole site again).
Returns: http://www.ptptn.gov.my/web/guest/pelan_simpanan

Funny - go to the English version and this SSPN-i PLUS isn't there.
For earth-princes only? Or just hot-off-the-oven?

This post has been edited by wongmunkeong: Jun 9 2015, 10:13 PM

no time to convert into English.. next week maybe ready

haha.. still got time till end year to study if it is worth while or not!

Soalan 16 :
Adakah simpanan yang dibuat boleh dikeluarkan pada bila-bila masa?

Jawapan :
Simpanan hanya boleh dikeluarkan selepas 3 tahun dari tarikh pembukaan akaun dan jumlah minimum yang perlu ada di dalam akaun adalah sebanyak RM1,000. Selepas tempoh 3 tahun tersebut, pendeposit boleh membuat pengeluaran pada bila-bila masa dan masih tertakluk dengan syarat baki minimum yang ditetapkan.

its jus d same old sspn jus dat it added insurance in it...lol

not bad wor this one!

Minus takaful charges.....how much left?

old wine in a new bottle

Although the new product just added a Plus word after the name of the existing product, it's in fact NOT a "Plus" as we expected. It is a totally different product altogether.

The major difference is, SSPN-i Plus has monthly commitment. Part of the monthly commitment are CONTRIBUTION for the Takaful insurance, which means payment for the Takaful premium.
I have all the necessary insurance covers and I would stick to the old SSPN-i without Plus.

Details in this link.
http://www.ptptn.gov.my/web/guest/pakej-da...aan-sspn-i-plus

This is no good.

the normal SSPN can take out ANYTIME right? Just as long as there is a "net input" in that year then we can use it to deduct tax.

For example.

I put in 6k in Dec, take out 2 months later in Feb. Claim the 6k tax relief.
Next year, I put in 12k in Dec, take out 2 months later. Nett input 6k, claim tax relief.
ANother year, put in 18k in Dec, take out 2 months later etc...


This new scheme... only can take out THREE years later? TOo risky...

got this from the website....

What are the terms for withdrawal of savings?

Withdrawals are allowed after a period of 1 year upon opening of an account. There are 2 types of withdrawals:

•10% withdrawal of current balance OR RM500, whichever is lower, once a year; OR
•100% withdrawal (termination of account) in the following cases:◦The child is offered a place in any higher learning institution;
◦The child has voluntarily withdrawn from the education system OR has been expelled for a specific reason;
◦Suffering from an illness certified by a doctor as being incurable;
◦Experience total permanent disability as certified by a doctor;
◦Death of the child; or
◦Death of the depositor.

http://www.ptptn.gov.my/web/english/faq-en...sspn/withdrawal

I got the terms from SSPN office in KL Sentral.

I even sat down with them to outline my plan.... they blur and not sure as to the technicalities... until an officer come see see say ok

Edit : Wait.. u talking about the new SSPN or the current scheme?

This post has been edited by MeToo: Jun 10 2015, 02:18 PM

I think the 10% is right...because else the tax rebate/relief is "buta-buta" gives....
just like the tax relief/rebate of the PRS scheme...where they have withdrawal limitation too....
don't you think so

http://www.ptptn.gov.my/web/english/saving...hdrawal-closure

There is no 10% ruling. Just call SSPN and ask.

The system is there, either we use it or we dont.

bro, u forgot something. there is few type of acc. afaik, d 1 eligible for tax rebate r d 1 u open for ur children. dat 1 they capped how much u can take out yearly. if can take no matter how much, then it wont call as Skim Simpanan Pendidikan Nasional

Bro.

That's the one i'm talking about. I wont bother to put in money if its not for tax rebate.

There is no cap.

Pls call the SSPN office for further info.

my wife alrady open acc. 2-3years back. i help her open acc for our son at ministry of higher educations. d counter people told me yearly cannot take alot money out rm500 or 10% whichever lower

I made my intention very clear before I open my account last year with SSPN.

It was a go ahead. Did u close and reopen the account?
Did your kid already enjoying PTPN?
My kid is 1 yrs old...

This post has been edited by MeToo: Jun 10 2015, 03:01 PM