SSPN-i Plus, New Product by PTPTN
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 Jun 9 2015, 09:23 PM, updated 9y ago
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#1
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Senior Member
10,001 posts Joined: May 2013 
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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 |
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Jun 9 2015, 09:53 PM
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#2
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Senior Member
2,337 posts Joined: Oct 2014 
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So, can we withdraw the savings in case of rainy day?
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Jun 9 2015, 10:07 PM
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#3
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(wil-i-am @ Jun 9 2015, 09:23 PM) Our DPM just launched SSPN-i Plus on 8 June 2015 Reads funny, like a Gov propaganda thinggy 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   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 |
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Jun 9 2015, 10:15 PM
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#4
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All Stars
48,447 posts Joined: Sep 2014 From: REality
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QUOTE(wongmunkeong @ Jun 9 2015, 10:07 PM) Funny - go to the English version and this SSPN-i PLUS isn't there. no time to convert into English.. next week maybe ready For earth-princes only? Or just hot-off-the-oven?  |
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Jun 10 2015, 10:43 AM
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#5
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Senior Member
8,259 posts Joined: Sep 2009 
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QUOTE(wongmunkeong @ Jun 9 2015, 11:07 PM) Reads funny, like a Gov propaganda thinggy haha.. still got time till end year to study if it is worth while or not!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? |
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Jun 10 2015, 10:58 AM
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#6
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Junior Member
128 posts Joined: Jun 2011
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QUOTE(cklimm @ Jun 9 2015, 09:53 PM) So, can we withdraw the savings in case of rainy day? 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. |
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Jun 10 2015, 11:42 AM
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#7
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4,081 posts Joined: Aug 2005 
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its jus d same old sspn jus dat it added insurance in it...lol
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Jun 10 2015, 12:26 PM
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#8
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8,259 posts Joined: Sep 2009
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QUOTE(rphoen1x @ Jun 10 2015, 11:58 AM) Soalan 16 : not bad wor this one!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. |
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Jun 10 2015, 12:29 PM
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#9
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(Kaka23 @ Jun 10 2015, 12:26 PM) not bad wor this one!  Minus takaful charges.....how much left?  |
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Jun 10 2015, 12:56 PM
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All Stars
48,447 posts Joined: Sep 2014 From: REality
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old wine in a new bottle
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Jun 10 2015, 12:58 PM
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Senior Member
5,867 posts Joined: Feb 2006
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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 WaNaWe900 liked this post
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Jun 10 2015, 02:03 PM
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9,333 posts Joined: May 2009
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QUOTE(rphoen1x @ Jun 10 2015, 10:58 AM) Soalan 16 : This is no good.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. 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... |
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Jun 10 2015, 02:15 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(MeToo @ Jun 10 2015, 02:03 PM) 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 |
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Jun 10 2015, 02:17 PM
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9,333 posts Joined: May 2009
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QUOTE(T231H @ Jun 10 2015, 02:15 PM) 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 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 |
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Jun 10 2015, 02:20 PM
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5,143 posts Joined: Jan 2015
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QUOTE(MeToo @ Jun 10 2015, 02:17 PM) I got the terms from SSPN office in KL Sentral. I think the 10% is right...because else the tax rebate/relief is "buta-buta" gives....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? just like the tax relief/rebate of the PRS scheme...where they have withdrawal limitation too.... don't you think so |
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Jun 10 2015, 02:23 PM
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9,333 posts Joined: May 2009
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QUOTE(T231H @ Jun 10 2015, 02:20 PM) I think the 10% is right...because else the tax rebate/relief is "buta-buta" gives.... http://www.ptptn.gov.my/web/english/saving...hdrawal-closurejust like the tax relief/rebate of the PRS scheme...where they have withdrawal limitation too.... don't you think so There is no 10% ruling. Just call SSPN and ask. The system is there, either we use it or we dont. |
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Jun 10 2015, 02:42 PM
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(MeToo @ Jun 10 2015, 02:23 PM) http://www.ptptn.gov.my/web/english/saving...hdrawal-closure 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 NasionalThere is no 10% ruling. Just call SSPN and ask. The system is there, either we use it or we dont. |
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Jun 10 2015, 02:44 PM
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Senior Member
9,333 posts Joined: May 2009
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QUOTE(low yat 82 @ Jun 10 2015, 02:42 PM) 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. |
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Jun 10 2015, 02:53 PM
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(MeToo @ Jun 10 2015, 02:44 PM) Bro. 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 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. |
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Jun 10 2015, 03:01 PM
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9,333 posts Joined: May 2009
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QUOTE(low yat 82 @ Jun 10 2015, 02:53 PM) 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 |
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Jun 10 2015, 03:05 PM
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(MeToo @ Jun 10 2015, 03:01 PM) I made my intention very clear before I open my account last year with SSPN. didnt close anything..It was a go ahead. Did u close and reopen the account? Did your kid already enjoying PTPN? My kid is 1 yrs old... my kids now onli 2++ yrs old if free, i try ask my wife go take money out see can or not.. |
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Jun 10 2015, 03:07 PM
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4,436 posts Joined: Oct 2008
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QUOTE(nexona88 @ Jun 9 2015, 10:15 PM) no time to convert into English.. next week maybe ready Waiting for some Mat-Salleh consultant to translate into Ingeris kut....by using Google Translate. |
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Jun 10 2015, 03:20 PM
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5,143 posts Joined: Jan 2015
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QUOTE(low yat 82 @ Jun 10 2015, 03:05 PM) didnt close anything.. I think you can withdraw but with limitation as in your post#19my kids now onli 2++ yrs old if free, i try ask my wife go take money out see can or not.. anyway,...as "Metoo" had asked before he open the a/c.... I will as like you...goto check with PTPTN if got free.... the terms is very clearly stated http://www.ptptn.gov.my/web/english/faq-en...sspn/withdrawal "Maybe" not updated....if can,..the tax relief is BUTA-BUTA gives..... and like what "MeToo" just said..."The system is there, either we use it or we don't". |
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Jun 10 2015, 03:33 PM
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Senior Member
9,333 posts Joined: May 2009
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QUOTE(T231H @ Jun 10 2015, 03:20 PM) I think you can withdraw but with limitation as in your post#19 SSPN officer says they calculate what is the NETT changes to the account.anyway,...as "Metoo" had asked before he open the a/c.... I will as like you...goto check with PTPTN if got free.... the terms is very clearly stated http://www.ptptn.gov.my/web/english/faq-en...sspn/withdrawal "Maybe" not updated....if can,..the tax relief is BUTA-BUTA gives..... and like what "MeToo" just said..."The system is there, either we use it or we don't". So if you take out 20k in a calender year, you need to put in 26k in the same year to be able to claim the 6k tax relief. |
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Jun 10 2015, 03:40 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(MeToo @ Jun 10 2015, 03:33 PM) SSPN officer says they calculate what is the NETT changes to the account. OK....So if you take out 20k in a calender year, you need to put in 26k in the same year to be able to claim the 6k tax relief. so lets says, I take out 20K in a calendar year 2015, and in year 2015,...i did not put in money..thus NO tax relief yr 2015. in 2016 I put in RM 6K , I gets tax relief for yr 2016... Is that what you said...? needed more clarification before I go to their office This post has been edited by T231H: Jun 10 2015, 03:41 PM |
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Jun 10 2015, 03:50 PM
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9,333 posts Joined: May 2009
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QUOTE(T231H @ Jun 10 2015, 03:40 PM) OK.... Yes.so lets says, I take out 20K in a calendar year 2015, and in year 2015,...i did not put in money..thus NO tax relief yr 2015. in 2016 I put in RM 6K , I gets tax relief for yr 2016... Is that what you said...? needed more clarification before I go to their office |
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Jun 10 2015, 03:51 PM
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5,143 posts Joined: Jan 2015
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QUOTE(MeToo @ Jun 10 2015, 03:50 PM) Yes. so how do you want to take out all the money?close it? |
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Jun 10 2015, 04:00 PM
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9,333 posts Joined: May 2009
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QUOTE(T231H @ Jun 10 2015, 03:51 PM) so how do you want to take out all the money? Actually. They didnt clarify. I just asked if I can take out all. I gave them year by year scenario on how much I put in and out. close it? At first it confused the counter staff, then he call another 2 friends who is also confused. That is until they found an officer who understood and confirmed with me. |
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Jun 10 2015, 04:03 PM
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5,143 posts Joined: Jan 2015
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QUOTE(MeToo @ Jun 10 2015, 04:00 PM) Actually. They didnt clarify. I just asked if I can take out all. I gave them year by year scenario on how much I put in and out. OK...will try to find out.....At first it confused the counter staff, then he call another 2 friends who is also confused. That is until they found an officer who understood and confirmed with me. |
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Jun 10 2015, 04:07 PM
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(T231H @ Jun 10 2015, 03:40 PM) OK.... jus go n open acc la. last time when i go open got free umbrella n small plastic bag so lets says, I take out 20K in a calendar year 2015, and in year 2015,...i did not put in money..thus NO tax relief yr 2015. in 2016 I put in RM 6K , I gets tax relief for yr 2016... Is that what you said...? needed more clarification before I go to their office  best is go ministry of higher education. d lobby there r their main PTPTN counter  |
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Jun 10 2015, 04:09 PM
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9,333 posts Joined: May 2009
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QUOTE(low yat 82 @ Jun 10 2015, 04:07 PM) jus go n open acc la. last time when i go open got free umbrella n small plastic bag plastic bag...... best is go ministry of higher education. d lobby there r their main PTPTN counter |
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Jun 10 2015, 04:15 PM
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5,143 posts Joined: Jan 2015
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QUOTE(low yat 82 @ Jun 10 2015, 04:07 PM) jus go n open acc la. last time when i go open got free umbrella n small plastic bag Opened mine few years back thru BSN.....no free gifts if I can recall... best is go ministry of higher education. d lobby there r their main PTPTN counter |
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Jun 11 2015, 10:08 AM
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Senior Member
5,143 posts Joined: Jan 2015
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MeToo, low yat 82
just came back from the PTPTN office... what was said by "MeToo" in post #12 and post #24 are correct.... this will give me another avenue to maximise my money after the SSPN tax relief expired in 2017...(take out all in 2018?)wongmunkeong if i can recall you did have a study and data on maximising the sspn saving....if got time can goto the nearest PTPTN office to confirm the above again and "recalculate" the study?? |
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Jun 11 2015, 10:22 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(T231H @ Jun 11 2015, 10:08 AM) MeToo, low yat 82 Maximise as in:just came back from the PTPTN office... what was said by "MeToo" in post #12 and post #24 are correct.... this will give me another avenue to maximise my money after the SSPN tax relief expired in 2017...(take out all in 2018?)wongmunkeong if i can recall you did have a study and data on maximising the sspn saving....if got time can goto the nearest PTPTN office to confirm the above again and "recalculate" the study?? 2015 Dec: In $6K 2016 Jan: Out $6K Use $6K to "roll" / "churn" 2016 Dec: In $12K 2017 Jan: Out 12K ? If so, IMHO, so short term.. even if plonk back just into Flexi Mortgage.. for that 1%+pa difference VS SSPN's returns pa, i'm waaaaay too lazy. If i can get >=3%pa spread for sure within 8 mths (prudent a bit lar just in case of hiccups), then worth it to me in/out this way for SSPN This post has been edited by wongmunkeong: Jun 11 2015, 10:29 AM |
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Jun 11 2015, 10:30 AM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(wongmunkeong @ Jun 11 2015, 10:22 AM) Maximise as in: i mean your calculation shows "something like" not worth to keep in SSPN for longer than 7 years due to low returns...2015 Dec: In $6K 2016 Jan: Out $6K Use $6K to "roll" / "churn" 2016 Dec: In $12K 2017 Jan: Out 12K ? If so, so short term.. even if plonk back just into Flexi Mortgage.. for that 1%+pa difference VS SSPN's returns pa, i'm waaaaay too lazy. If i can get >=3%pa spread for sure within 8 mths (prudent a bit lar just in case of hiccups), then worth it to me in/out this way for SSPN. now with this "new info" seems like can take out after maximising the tax thing that ends in 2017.... i think this link was shown to you many months back....(hope you can recall) and understand what i was talking about.... Does it worth to put saving in Skim Simpanan Pendidikan Nasional (SSPN-i)? http://voyager8.blogspot.com/2013/12/does-...ng-in-skim.html This post has been edited by T231H: Jun 11 2015, 10:43 AM |
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Jun 11 2015, 10:33 AM
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Senior Member
9,333 posts Joined: May 2009
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QUOTE(wongmunkeong @ Jun 11 2015, 10:22 AM) Maximise as in: This is definitely worth it.. as we hit the top 2 LHDN bracket.. our "returns" on investment is 24~25% of this $6000. Even if our money doesnt work for the rest of the year, its already worth it. However, the reason I take it out is the fact that I'm not very confident of this govt, I dont want to risk any legislation "changes" which might change the withdrawal policy and see my money stuck there.2015 Dec: In $6K 2016 Jan: Out $6K Use $6K to "roll" / "churn" 2016 Dec: In $12K 2017 Jan: Out 12K ? If so, so short term.. even if plonk back just into Flexi Mortgage.. for that 1%+pa difference VS SSPN's returns pa, i'm waaaaay too lazy. If i can get >=3%pa spread for sure within 8 mths (prudent a bit lar just in case of hiccups), then worth it to me in/out this way for SSPN. In the 8~10 months between, we can either drop the money into our house flexipay account (not me though), for me I will just plunk it into FD as spare rolling/emergency cash. |
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Jun 11 2015, 10:34 AM
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9,333 posts Joined: May 2009
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QUOTE(T231H @ Jun 11 2015, 10:30 AM) i mean your calculation shows "something like" not worth to keep in SSPN for longer than 7 years due to low returns... Whoa bro?!now with this "new info" seems like can take out after maximising the tax thing that ends in 2017.... The tax relief ends in 2017?!  |
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Jun 11 2015, 10:35 AM
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Senior Member
1,276 posts Joined: Dec 2005 From: Klg-Ktn-Klg-KK-PG-BM
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NOT WORTH IT. PERIOD
SSPN is enough |
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Jun 11 2015, 10:36 AM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(MeToo @ Jun 11 2015, 10:34 AM) Whoa bro?! yes, see point# 11The tax relief ends in 2017?! http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=1 |
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Jun 11 2015, 10:44 AM
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Senior Member
9,333 posts Joined: May 2009
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QUOTE(T231H @ Jun 11 2015, 10:36 AM) There goes my extra $1500 income per year |
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Jun 11 2015, 11:14 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(MeToo @ Jun 11 2015, 10:33 AM) This is definitely worth it.. as we hit the top 2 LHDN bracket.. our "returns" on investment is 24~25% of this $6000. Even if our money doesnt work for the rest of the year, its already worth it. However, the reason I take it out is the fact that I'm not very confident of this govt, I dont want to risk any legislation "changes" which might change the withdrawal policy and see my money stuck there. Clarification for the unclear - not worth it to me in/out/in/out SSPN.In the 8~10 months between, we can either drop the money into our house flexipay account (not me though), for me I will just plunk it into FD as spare rolling/emergency cash. For just plonk & forget - worthwhile for me at my tax bracket. |
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Jun 11 2015, 11:16 AM
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Junior Member
194 posts Joined: Jul 2009
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QUOTE(MeToo @ Jun 10 2015, 02:23 PM) http://www.ptptn.gov.my/web/english/saving...hdrawal-closure Have you withdrawn all the money you deposited into SSPN last year to validate what you have been told?There is no 10% ruling. Just call SSPN and ask. The system is there, either we use it or we dont. |
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Jun 11 2015, 11:17 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(T231H @ Jun 11 2015, 10:30 AM) i mean your calculation shows "something like" not worth to keep in SSPN for longer than 7 years due to low returns... er.. look at my signature's 3rd link - SSPN.now with this "new info" seems like can take out after maximising the tax thing that ends in 2017.... i think this link was shown to you many months back....(hope you can recall) and understand what i was talking about.... Does it worth to put saving in Skim Simpanan Pendidikan Nasional (SSPN-i)? http://voyager8.blogspot.com/2013/12/does-...ng-in-skim.html I didn't say "not worth it" only - it can be better if one mixes it with equity investments. |
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Jun 11 2015, 11:18 AM
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9,333 posts Joined: May 2009
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QUOTE(geekfiredog @ Jun 11 2015, 11:16 AM) Have you withdrawn all the money you deposited into SSPN last year to validate what you have been told? check out T231H post #33To answer your post, actually I havent, I really should... but procrastination and the fact the best I could do with the money is plonking it into FD is making me sit on my butt  This post has been edited by MeToo: Jun 11 2015, 11:20 AM |
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Jun 11 2015, 11:20 AM
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Junior Member
194 posts Joined: Jul 2009
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QUOTE(T231H @ Jun 11 2015, 10:36 AM) The SSPN tax exemption started earlier than 2012, if not mistaken - they increase the limit from RM3,000 to RM6,000 in 2012. Need to find out if the RM6,000 tax exemption ends in 2017 and back to RM3,000, or totally remove? |
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Jun 11 2015, 11:21 AM
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Senior Member
9,333 posts Joined: May 2009
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QUOTE(geekfiredog @ Jun 11 2015, 11:20 AM) The SSPN tax exemption started earlier than 2012, if not mistaken - they increase the limit from RM3,000 to RM6,000 in 2012. Need to find out if the RM6,000 tax exemption ends in 2017 and back to RM3,000, or totally remove? Good point.If its back to 3000... still better then nothing.. 25% of 3000 is still a meal or two |
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Jun 11 2015, 11:23 AM
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Senior Member
9,333 posts Joined: May 2009
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QUOTE(wongmunkeong @ Jun 11 2015, 11:17 AM) er.. look at my signature's 3rd link - SSPN. Bro...I didn't say "not worth it" only - it can be better if one mixes it with equity investments. I really cannot see any better returns then 20ish% (dependent on your tax bracket) percent return on your money within a 2~3 months period. Perhaps you might wanna take another look at in with the fact that we can totally withdraw the money anytime we like. |
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Jun 11 2015, 12:36 PM
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(T231H @ Jun 11 2015, 10:08 AM) MeToo, low yat 82 ic... nice info!just came back from the PTPTN office... what was said by "MeToo" in post #12 and post #24 are correct.... this will give me another avenue to maximise my money after the SSPN tax relief expired in 2017...(take out all in 2018?)wongmunkeong if i can recall you did have a study and data on maximising the sspn saving....if got time can goto the nearest PTPTN office to confirm the above again and "recalculate" the study?? |
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Jun 11 2015, 02:43 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(MeToo @ Jun 11 2015, 11:23 AM) Bro... Sorry - i don't want waste time on in/out/in/out all within a year or less.I really cannot see any better returns then 20ish% (dependent on your tax bracket) percent return on your money within a 2~3 months period. Perhaps you might wanna take another look at in with the fact that we can totally withdraw the money anytime we like. My time cost to deal with PTPTN to take out is not worthwhile + like i shared earlier - what's the point for 1%pa+ variance vs my Flexi mortgage? (to take out of SSPN and plonk in my Flexi mortgage, then back into SSPN, rinse/repeat) It's like those chasing FD %pa - unless it's like >=RM3M, not worth it for me Worth it for some of course - big amount mar. U say 20%pa+ returns yet i think U still don't understand where i'm coming from. In simple English: I do SSPN and i don't treat it as a stock exchange or options trade. I just leave it there as there is no good usage for it in less than 1 year for me to do the in/out/in/out dance. |
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Jun 11 2015, 04:08 PM
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Senior Member
9,333 posts Joined: May 2009
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QUOTE(wongmunkeong @ Jun 11 2015, 02:43 PM) Sorry - i don't want waste time on in/out/in/out all within a year or less. Ahh.. I see what u mean.My time cost to deal with PTPTN to take out is not worthwhile + like i shared earlier - what's the point for 1%pa+ variance vs my Flexi mortgage? (to take out of SSPN and plonk in my Flexi mortgage, then back into SSPN, rinse/repeat) It's like those chasing FD %pa - unless it's like >=RM3M, not worth it for me Worth it for some of course - big amount mar. U say 20%pa+ returns yet i think U still don't understand where i'm coming from. In simple English: I do SSPN and i don't treat it as a stock exchange or options trade. I just leave it there as there is no good usage for it in less than 1 year for me to do the in/out/in/out dance. I'm coming form a diff direction, I'm not looking at the return/benefits form taking it out. I'm looking at the security. I have no confidence in the country handling my money. |
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Jun 11 2015, 07:42 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(MeToo @ Jun 11 2015, 04:08 PM) Ahh.. I see what u mean. eh - like that i think better focus on EPF Ac1 --> investments & Ac2 --> monthly out, more oomph for "don't trust Gov with big % of $"I'm coming form a diff direction, I'm not looking at the return/benefits form taking it out. I'm looking at the security. I have no confidence in the country handling my money. other than tax optimization your method with SSPN lar  just a thought  |
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Jun 11 2015, 11:23 PM
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Senior Member
9,333 posts Joined: May 2009
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QUOTE(wongmunkeong @ Jun 11 2015, 07:42 PM) eh - like that i think better focus on EPF Ac1 --> investments & Ac2 --> monthly out, more oomph for "don't trust Gov with big % of $" Yup.. taking out EPF Acc2 for house DP, then monthly repayment also out form acc2, better then they suddenly decide to extend withtdrawal age to 90 and then pay out by installment.other than tax optimization your method with SSPN lar just a thought |
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Jun 12 2015, 09:22 AM
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Junior Member
110 posts Joined: Jan 2014
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QUOTE(wil-i-am @ Jun 9 2015, 09:23 PM) Our DPM just launched SSPN-i Plus on 8 June 2015 link not workingBelow 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 |
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Jun 12 2015, 11:57 AM
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All Stars
48,447 posts Joined: Sep 2014 From: REality
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QUOTE(Sacrifies @ Jun 12 2015, 09:22 AM) link not working http://www.ptptn.gov.my/web/guest/sspn-i-p...1BBBB94B0926D3D |
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Jun 14 2015, 05:45 PM
Show posts by this member only | IPv6 | Post
#55
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Senior Member
10,001 posts Joined: May 2013
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Max tax relief for SSPN-i Plus is RM3.6k pa for sumbangan Takaful
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Jun 14 2015, 06:24 PM
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Elite
14,576 posts Joined: May 2006 From: Sarawak 
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I thought I could get tax relief of 12k per year with SSPN-i Plus but looks like I can't. Read through the FAQ section and this is what is written:
QUOTE SOALAN 22 So, if your max contribution to normal SSPN-i is at least 6k and your life insurance/KWSP contribution is also at least 6k, you'll get no more tax relief from SSPN-i Plus. SSPN-i Plus dan SSPN-i masing-masing menawarkan pelepasan taksiran cukai pendapatan ke atas simpanan bersih tahun semasa sehingga RM6,000 bagi akaun yang dibuka untuk anak/ anak jagaan yang sah. Jika pendeposit mempunyai kedua-dua akaun, adakah pelepasan taksiran cukai pendapatan yang boleh dinikmati adalah sebanyak RM12,000? Jawapan Tidak. Pelepasan taksiran cukai pendapatan ke atas simpanan bersih bagi SSPN-i Plus dan SSPN-i hanya diberikan sehingga RM6,000. Walau bagaimanapun bagi akaun SSPN-i Plus, pendeposit boleh menikmati tambahan pelepasan taksiran cukai pendapatan ke atas sumbangan takaful yang dibayar kepada pengendali takaful sebanyak RM6,000, di bawah kategori pelepasan bagi insurans nyawa dan KWSP. From the link you guys posted : http://www.ptptn.gov.my/docs/SSPN-i%20Plus...PN-i%20PLUS.pdf |
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Jun 14 2015, 08:49 PM
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All Stars
48,447 posts Joined: Sep 2014 From: REality
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-deleted-
This post has been edited by nexona88: Jun 14 2015, 08:50 PM |
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Jun 14 2015, 09:35 PM
Show posts by this member only | IPv6 | Post
#58
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Senior Member
10,001 posts Joined: May 2013
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With savings as low as RM50 in SSPN-i Plus, depositors r eligible to participate in Lucky Draw worth RM3.00 mil from 8/6/15 to 31/5/16
Quarterly draw : 1 BMW 320i Annual draw : 1st prize x 1 - Apartment worth RM500k 2nd prize x 5 - Honda HR-V 1.8L V 3rd prize x 10 - Kawasaki ER-6f Consolation x 250 - Cash voucher worth RM2k |
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Jun 15 2015, 06:46 PM
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All Stars
48,447 posts Joined: Sep 2014 From: REality
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Nice got Lucky Draw
 It would attract some to SSPN-i Plus |
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Jun 15 2015, 07:15 PM
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Junior Member
58 posts Joined: Apr 2011
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QUOTE(kmarc @ Jun 14 2015, 06:24 PM) I thought I could get tax relief of 12k per year with SSPN-i Plus but looks like I can't. Read through the FAQ section and this is what is written: To me is something additional commitment with insurance , maybe it just add 1or 2 extra benefits .So, if your max contribution to normal SSPN-i is at least 6k and your life insurance/KWSP contribution is also at least 6k, you'll get no more tax relief from SSPN-i Plus. From the link you guys posted : http://www.ptptn.gov.my/docs/SSPN-i%20Plus...PN-i%20PLUS.pdf |
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Jun 16 2015, 09:37 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(geekfiredog @ Jun 11 2015, 11:20 AM) The SSPN tax exemption started earlier than 2012, if not mistaken - they increase the limit from RM3,000 to RM6,000 in 2012. Need to find out if the RM6,000 tax exemption ends in 2017 and back to RM3,000, or totally remove? ...just made a quick check and contribution assumption...this year I have about RM 35k in PTPTN will add in RM 12K next 2 years (2017) Total will be about 47K in 2017 assuming interest rate is 4.3% pa. will get about RM 2000 pa. so if I add in just RM 1000 for year 2018 and onward....my sumbangan bersih for each year is RM 3000 will get tax rebate of RM 3000 x 23% = RM 690 My net contribution is just RM 310 for 2018 Every year my balance will increase due to interest thus my contribution will be reduced in the calculation of Sumbangan Bersih. I think a few years after 2018...I dun need to contribute bcos my Sumbangan Bersih will reach RM 3000 and still get tax rebate. therefore I think the stated limit of RM 3000 will be removed... what do you think? This post has been edited by T231H: Jun 16 2015, 10:25 PM |
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Jul 6 2015, 10:48 PM
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Senior Member
1,485 posts Joined: Dec 2005
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out of the topic but hope anyone can help?
try to register to Pendaftaran Online E-SSPN in order to get the copy for 2014 income tax but what is this POSKOD SEMASA PEMBUKAAN AKAUN SSPN:? my house postcode? until now can't register it online call them no body pick up the phone |
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Jul 6 2015, 11:32 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(asiatrader98 @ Jul 6 2015, 10:48 PM) out of the topic but hope anyone can help? try to register to Pendaftaran Online E-SSPN in order to get the copy for 2014 income tax but what is this POSKOD SEMASA PEMBUKAAN AKAUN SSPN:? my house postcode? until now can't register it online call them no body pick up the phone while waiting for responses....try the postcode of the registration address? looks like it... This post has been edited by T231H: Jul 6 2015, 11:33 PM |
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Jul 7 2015, 09:59 AM
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Senior Member
1,485 posts Joined: Dec 2005
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QUOTE(T231H @ Jul 6 2015, 11:32 PM) while waiting for responses....try the postcode of the registration address? looks like it... call and ask them to assist then now registered ady  This post has been edited by asiatrader98: Jul 7 2015, 11:59 AM |
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Jul 7 2015, 01:30 PM
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All Stars
48,447 posts Joined: Sep 2014 From: REality
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QUOTE(asiatrader98 @ Jul 7 2015, 09:59 AM) thank, but still can't what the problem? call and ask them to assist then now registered ady |
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Jul 7 2015, 05:32 PM
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Senior Member
1,485 posts Joined: Dec 2005
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QUOTE(nexona88 @ Jul 7 2015, 01:30 PM) what the problem? i have no idea but you can call them and ask them to register for you |
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Sep 7 2015, 10:08 AM
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Junior Member
41 posts Joined: Dec 2009
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which one better between sspn-i & sspn-i plus?
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Sep 7 2015, 10:56 AM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(bobzaidi @ Sep 7 2015, 10:08 AM) which one better between sspn-i & sspn-i plus? It depends on individual objectiveSspn-i dun have monthly commitment but Sspn-i plus have |
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Sep 7 2015, 12:33 PM
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Junior Member
41 posts Joined: Dec 2009
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QUOTE(wil-i-am @ Sep 7 2015, 10:56 AM) It depends on individual objective how abt takaful coverage?Sspn-i dun have monthly commitment but Sspn-i plus have |
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Sep 7 2015, 03:20 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(bobzaidi @ Sep 7 2015, 12:33 PM) how abt takaful coverage? Both oso offer takaful coverage with conditions |
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Sep 14 2015, 01:24 PM
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Senior Member
8,259 posts Joined: Sep 2009
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SSPN website down? Why cannot log in?
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Sep 27 2015, 12:35 PM
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Junior Member
671 posts Joined: Dec 2011
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Hi, anyone subscribe to this sspn-i plus?
What is the main benefit? |
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Sep 27 2015, 12:49 PM
Show posts by this member only | IPv6 | Post
#73
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(kino318 @ Sep 27 2015, 12:35 PM) Hi, anyone subscribe to this sspn-i plus? List of benefitsWhat is the main benefit? http://www.ptptn.gov.my/docs/SSPN-i%20Plus...PN-i%20PLUS.pdf |
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Nov 11 2015, 04:19 PM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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almost end of the year liao.
time to maximise sspn/prs/books/health checks/sports/etc before the boogeyman (lhdn) strikes. for road show campaign, can we expect any freebies from sspn? or just go kl sentral for better chance of free gift. am eyeing an umbrella or better. btw, can go and top up using credit card or not? else need bring cheque, very inconvenient. |
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Nov 11 2015, 04:22 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(kochin @ Nov 11 2015, 04:19 PM) almost end of the year liao. They dun accept credit cardtime to maximise sspn/prs/books/health checks/sports/etc before the boogeyman (lhdn) strikes. for road show campaign, can we expect any freebies from sspn? or just go kl sentral for better chance of free gift. am eyeing an umbrella or better. btw, can go and top up using credit card or not? else need bring cheque, very inconvenient. They will accept cash n cheq ony |
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Nov 11 2015, 05:58 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(kochin @ Nov 11 2015, 04:19 PM) almost end of the year liao. Tai loh, online can top uptime to maximise sspn/prs/books/health checks/sports/etc before the boogeyman (lhdn) strikes. for road show campaign, can we expect any freebies from sspn? or just go kl sentral for better chance of free gift. am eyeing an umbrella or better. btw, can go and top up using credit card or not? else need bring cheque, very inconvenient. Then email the agent and agent will gip U something - no need to run up/down/left/right heheh There's one fellow around here that's taking care of the centrepoint branch helpful fellow with details and stuff i did it online and emailed him the receipt BUT i declined his freebies since he already helped me with details/info. PM me if U can't find his contact here in LYN - may not be too nice for me to put his contact by own judgement |
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Nov 12 2015, 06:46 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wongmunkeong @ Nov 11 2015, 05:58 PM) Tai loh, online can top up Where is centerpoint? Then email the agent and agent will gip U something - no need to run up/down/left/right heheh There's one fellow around here that's taking care of the centrepoint branch helpful fellow with details and stuff i did it online and emailed him the receipt BUT i declined his freebies since he already helped me with details/info. PM me if U can't find his contact here in LYN - may not be too nice for me to put his contact by own judgement |
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Nov 12 2015, 08:23 AM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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QUOTE(wongmunkeong @ Nov 11 2015, 05:58 PM) Tai loh, online can top up went through all 4 pages here, can't find the mentioned fella.Then email the agent and agent will gip U something - no need to run up/down/left/right heheh There's one fellow around here that's taking care of the centrepoint branch helpful fellow with details and stuff i did it online and emailed him the receipt BUT i declined his freebies since he already helped me with details/info. PM me if U can't find his contact here in LYN - may not be too nice for me to put his contact by own judgement do him a favour lah, i think a few will be interested. kekeke. else PM me lor. thanks dai loh! centrepoint good. nearby saja. kekeke. |
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Nov 12 2015, 09:53 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Kaka23 @ Nov 12 2015, 06:46 AM) Where is centerpoint? bandar utama, between 1U & Tropicana |
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Nov 12 2015, 09:58 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(kochin @ Nov 12 2015, 08:23 AM) went through all 4 pages here, can't find the mentioned fella. Will PM U - i worry may not be too right for his details plastered here by me do him a favour lah, i think a few will be interested. kekeke. else PM me lor. thanks dai loh! centrepoint good. nearby saja. kekeke. |
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Nov 12 2015, 10:11 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wongmunkeong @ Nov 12 2015, 09:53 AM) bandar utama, between 1U & Tropicana Oh.. near nearBut I am blur, why need the guy? What will he do for you? |
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Nov 12 2015, 12:41 PM
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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QUOTE(wongmunkeong @ Nov 12 2015, 09:58 AM) Will PM U - i worry may not be too right for his details plastered here by me Thanks taikor. Will contact him.I love freebies. |
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Nov 23 2015, 11:06 AM
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Junior Member
73 posts Joined: Aug 2006
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Hi All,
So in short if i bank in 6k now into SSPN account, can i withdraw the full amount at anytime next year? Thanks, Eric |
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Nov 23 2015, 10:05 PM
Show posts by this member only | IPv6 | Post
#84
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(eric8188 @ Nov 23 2015, 11:06 AM) Hi All, YesSo in short if i bank in 6k now into SSPN account, can i withdraw the full amount at anytime next year? Thanks, Eric |
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Dec 2 2015, 09:43 AM
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Senior Member
1,248 posts Joined: May 2011
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QUOTE(wil-i-am @ Nov 11 2015, 04:22 PM) They dun accept credit card Just to supplement that credit card can be used from their official web site. They will accept cash n cheq ony http://www.ptptn.gov.my/web/guest/simpanan/kemudahan-sspn-i |
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Dec 2 2015, 05:11 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(SmallPotato2011 @ Dec 2 2015, 09:43 AM) Just to supplement that credit card can be used from their official web site. Dagnabit.. i didn't see that.http://www.ptptn.gov.my/web/guest/simpanan/kemudahan-sspn-i Thanks SmallPotato <starts counting $5K+ into points or cash back =...> |
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Dec 2 2015, 08:15 PM
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Senior Member
1,248 posts Joined: May 2011
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QUOTE(wongmunkeong @ Dec 2 2015, 05:11 PM) Dagnabit.. i didn't see that. Just try it today... Can top up via credit card... So good... Got umbrella too!Thanks SmallPotato <starts counting $5K+ into points or cash back =...> |
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Dec 2 2015, 08:28 PM
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All Stars
11,954 posts Joined: May 2007
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there no mentioned of supporting credit card.
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Dec 2 2015, 08:47 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(SmallPotato2011 @ Dec 2 2015, 08:15 PM) Just try it today... Can top up via credit card... So good... Got umbrella too! I just emailed my SSPN contact and he said there's a $0.53 charge wor.Were U charged? Just checking stated process Vs actual |
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Dec 2 2015, 09:47 PM
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Senior Member
1,248 posts Joined: May 2011
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QUOTE(wongmunkeong @ Dec 2 2015, 08:47 PM) I just emailed my SSPN contact and he said there's a $0.53 charge wor. I think I am not the first person here to use credit card to top up. So far did not hear there is any additional charges. Even if rm 0.53, just give it la... Were U charged? Just checking stated process Vs actual  You can just try in any SSPN/PTPTN kiosk in KL... |
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Dec 2 2015, 09:49 PM
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Senior Member
1,248 posts Joined: May 2011
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QUOTE(MNet @ Dec 2 2015, 08:28 PM) there no mentioned of supporting credit card. >>>>> Kaunter PTPTN (Tunai, Kad Debit / Kad ATM / Kad Kredit)Did you see this? Ada leh, dalam bahasa melayu version... |
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Dec 2 2015, 10:12 PM
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Senior Member
2,612 posts Joined: Apr 2012
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I top up last week and check my card transaction. No charges at all as the counter says PPTN will absorb the charges.
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Dec 2 2015, 10:18 PM
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All Stars
11,954 posts Joined: May 2007
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Pengeluaran
Pendeposit hanya boleh membuat pengeluaran selepas 3 tahun dari tarikh pembukaan akaun dan jumlah minima yang perlu ada didalam akaun simpanan adalah sebanyak RM1,000. |
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Dec 2 2015, 10:26 PM
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All Stars
48,447 posts Joined: Sep 2014 From: REality
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QUOTE(SmallPotato2011 @ Dec 2 2015, 08:15 PM) Just try it today... Can top up via credit card... So good... Got umbrella too! nice |
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Dec 2 2015, 10:27 PM
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All Stars
48,447 posts Joined: Sep 2014 From: REality
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QUOTE(MNet @ Dec 2 2015, 08:28 PM) there no mentioned of supporting credit card. already stated in website   |
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Dec 3 2015, 08:45 PM
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All Stars
11,954 posts Joined: May 2007
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Able to open SSPN-i Plus for our ownself?
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Dec 3 2015, 08:56 PM
Show posts by this member only | IPv6 | Post
#97
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(MNet @ Dec 3 2015, 08:45 PM) Able to open SSPN-i Plus for our ownself? Yup  |
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Dec 3 2015, 09:36 PM
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All Stars
11,954 posts Joined: May 2007
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I still dont understand this plan.
Take pakej belian for example, every month need to pay RM300(Sumbangan SSPN-i) + RM200(Takaful). Let say the yearly interest given is 4%. So 12 month x 500 = 6000 Interest earned is 6000 x 4% ? |
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Dec 3 2015, 09:46 PM
Show posts by this member only | IPv6 | Post
#99
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(MNet @ Dec 3 2015, 09:36 PM) I still dont understand this plan. NopeTake pakej belian for example, every month need to pay RM300(Sumbangan SSPN-i) + RM200(Takaful). Let say the yearly interest given is 4%. So 12 month x 500 = 6000 Interest earned is 6000 x 4% ? (12 x 300) x 4% |
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Dec 3 2015, 10:06 PM
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All Stars
48,447 posts Joined: Sep 2014 From: REality
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QUOTE(MNet @ Dec 3 2015, 08:45 PM) Able to open SSPN-i Plus for our ownself? yes. why u got rejected meh? |
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Dec 5 2015, 01:49 PM
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All Stars
11,954 posts Joined: May 2007
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This mean the SSPN-i plus is wasting...I already have my own insurance
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Dec 5 2015, 07:22 PM
Show posts by this member only | IPv6 | Post
#102
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(MNet @ Dec 5 2015, 01:49 PM) This mean the SSPN-i plus is wasting...I already have my own insurance For those who have insurance, no pointFor those who dun have insurance, gud investment |
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Dec 6 2015, 10:14 AM
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All Stars
11,954 posts Joined: May 2007
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No la.
Paying the same insurance amount, I can get much better coverage by buying the insurance with insurance company. |
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Dec 6 2015, 12:42 PM
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All Stars
48,447 posts Joined: Sep 2014 From: REality
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QUOTE(MNet @ Dec 6 2015, 10:14 AM) No la. then don't subscribe to SSPN-i Paying the same insurance amount, I can get much better coverage by buying the insurance with insurance company. buy insurance instead This post has been edited by nexona88: Dec 6 2015, 12:43 PM |
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Jan 23 2016, 09:25 AM
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Senior Member
1,188 posts Joined: Sep 2008
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QUOTE(SmallPotato2011 @ Dec 2 2015, 09:43 AM) Just to supplement that credit card can be used from their official web site. Thanks for sharing this. I want to top up SSPN-i account via online using credit card. http://www.ptptn.gov.my/web/guest/simpanan/kemudahan-sspn-i But when I tried your link and then move on to myPay, it only support online banking payment... did I missing something? Is this link correct? Appreciate your help... Thanks. |
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May 10 2016, 09:10 PM
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Newbie
3 posts Joined: Feb 2011
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if i am single and have SSPN-i with my own name? can i enjoy the tax exempted rebate when do tax filing? or i must have son/daughter only can claim the tax rebate? anyone have idea?
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May 10 2016, 09:25 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(cheekian98 @ May 10 2016, 09:10 PM) if i am single and have SSPN-i with my own name? can i enjoy the tax exempted rebate when do tax filing? or i must have son/daughter only can claim the tax rebate? anyone have idea? Pelepasan taksiran cukai pendapatan ke atas simpanan SSPN-i:1. Ibu bapa dan ibu bapa angkat/ penjaga yang sah dari segi undang-undang yang menyimpan dalam akaun SSPN-i untuk manfaat anak diberi pelepasan sehingga maksima RM6,000.00 setahun tertakluk kepada jumlah simpanan bersih tahun semasa; 2. Ibu bapa yang membuat taksiran berasingan dan telah membuka akaun simpanan SSPN-i berasingan atas anak yang sama diberikan pelepasan sehingga maksima RM6,000.00 seorang setahun; 3. Ibu bapa yang membuat taksiran bersama dan telah membuka akaun simpanan SSPN-i berasingan diberi pelepasan sehingga maksima RM6,000.00 setahun; dan 4. Individu yang menyimpan untuk diri sendiri tidak diberi pelepasan taksiran cukai. http://www.ptptn.gov.my/web/guest/simpanan/cukai |
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Sep 5 2016, 10:37 AM
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Junior Member
565 posts Joined: Mar 2014
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post deleted
This post has been edited by ytan053: Sep 5 2016, 10:42 AM |
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Sep 20 2016, 07:17 PM
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Junior Member
154 posts Joined: Feb 2009
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Any promotion so far? Thought to open a new account soon.
If I am opening for son today, can the money be used for daugther later day? Can the fund be used to study at private college like HELP, INTI, Segi....etc |
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Sep 23 2016, 11:41 AM
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Junior Member
131 posts Joined: Sep 2009 From: Behind you 
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i noob in takaful thing,,,do i get back all my sumbangan takaful if i cancel my account?
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Sep 23 2016, 11:46 AM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(mrhulk @ Sep 23 2016, 11:41 AM) i noob in takaful thing,,,do i get back all my sumbangan takaful if i cancel my account? takaful is sort of insurance protection right?if yes,..you paid the insurance companies for that coverage.... you think you can get back "all your sumbangan"? maybe "yes" during the cooling off period. |
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Sep 23 2016, 11:48 AM
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Junior Member
131 posts Joined: Sep 2009 From: Behind you
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QUOTE(MUM @ Sep 23 2016, 11:46 AM) takaful is sort of insurance protection right? oh....so it is same as insurance?.....so i dont get back my sumbangan unless i get sick/dead right?if yes,..you paid the insurance companies for that coverage.... you think you can get back "all your sumbangan"? maybe "yes" during the cooling off period. |
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Sep 23 2016, 12:06 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(mrhulk @ Sep 23 2016, 11:48 AM) oh....so it is same as insurance?.....so i dont get back my sumbangan unless i get sick/dead right? What is 'Takaful'Takaful is a type of Islamic insurance, where members contribute money into a pooling system in order to guarantee each other against loss or damage. Takaful-branded insurance is based on Sharia, Islamic religious law, and explains how it is the responsibility of individuals to cooperate and protect each other. http://www.investopedia.com/terms/t/takaful.asp not sure if only sick/dead can get back...maybe they have some endowment type? but maybe not thru this SSPN-i. |
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Oct 19 2016, 01:55 PM
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Senior Member
1,276 posts Joined: Dec 2005 From: Klg-Ktn-Klg-KK-PG-BM
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regarding this point:
2. Ibu bapa yang membuat taksiran berasingan dan telah membuka akaun simpanan SSPN-i berasingan atas anak yang sama diberikan pelepasan sehingga maksima RM6,000.00 seorang setahun; do I need to open 2 sspn accounts (me and wife) separately on the same son to enjoy 6k tax relief each? This post has been edited by sevendogz: Oct 19 2016, 01:56 PM |
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Oct 19 2016, 02:01 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(sevendogz @ Oct 19 2016, 01:55 PM) regarding this point: try this?...2. Ibu bapa yang membuat taksiran berasingan dan telah membuka akaun simpanan SSPN-i berasingan atas anak yang sama diberikan pelepasan sehingga maksima RM6,000.00 seorang setahun; do I need to open 2 sspn accounts (me and wife) separately on the same son to enjoy 6k tax relief each? Question 6 : If parents filed separate assessment and have opened SSPN-i accounts, what would be the maximum incentive amount? Answer : They will each enjoy the maximum incentive amount of RM6,000.00 annually. Question 7 : If parents filed joint assessment and have opened SSPN-i accounts, what would be the maximum incentive amount? Answer : They will jointly enjoy the maximum incentive amount of RM6,000.00 annually. http://www.ptptn.gov.my/web/english/insent...ih-dalam-sspn-i |
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Oct 19 2016, 02:11 PM
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Senior Member
1,276 posts Joined: Dec 2005 From: Klg-Ktn-Klg-KK-PG-BM
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QUOTE(T231H @ Oct 19 2016, 02:01 PM) try this?... my question is, one kid, one sspn account of 12k deposit, or one kid, 2 sspn accounts of 6k deposit?Question 6 : If parents filed separate assessment and have opened SSPN-i accounts, what would be the maximum incentive amount? Answer : They will each enjoy the maximum incentive amount of RM6,000.00 annually. Question 7 : If parents filed joint assessment and have opened SSPN-i accounts, what would be the maximum incentive amount? Answer : They will jointly enjoy the maximum incentive amount of RM6,000.00 annually. http://www.ptptn.gov.my/web/english/insent...ih-dalam-sspn-i |
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Oct 19 2016, 02:20 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(sevendogz @ Oct 19 2016, 02:11 PM) my question is, one kid, one sspn account of 12k deposit, or one kid, 2 sspn accounts of 6k deposit? Terms & conditions to opening an SSPN-i accountDepositor and beneficiary must be Malaysian citizen Depositor also can open account for himself as beneficiary; Each depositor can only open one account for same beneficiary; Beneficiary must be 1 day up before reaching the age of 29 years; Beneficiary who have had accounts open by depositor can open an account for himself or to open an account for any other citizen. This means beneficiary at the same time can be a depositor; and Different depositor is allowed to open an account for the same beneficiary and no limit on the number of accounts for each beneficiary. http://www.ptptn.gov.my/web/english/231 This post has been edited by T231H: Oct 19 2016, 02:27 PM |
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Oct 19 2016, 02:28 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(sevendogz @ Oct 19 2016, 02:11 PM) my question is, one kid, one sspn account of 12k deposit, or one kid, 2 sspn accounts of 6k deposit? "owner" of a/c = parentbeneficiary = kid Thus ParentA AND Kid01 = account number #1 ParentB AND Kid01 = aacount number #2 OR ParentA AND Kid01 = account number #1 ParentA AND Kid02 = account number #2 kapeesh? |
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Oct 19 2016, 02:29 PM
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Senior Member
1,276 posts Joined: Dec 2005 From: Klg-Ktn-Klg-KK-PG-BM
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QUOTE(T231H @ Oct 19 2016, 02:20 PM) i kid = 1 sspn account number? normally you have to open the account together with your name in it, something like joint accountin this case, do we both need to open the "joint" account, means there will be 2 accounts for 1 kid 6k in 2 accounts each, or 12k in one account only... anyone got the experience? |
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Oct 19 2016, 02:33 PM
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Senior Member
1,276 posts Joined: Dec 2005 From: Klg-Ktn-Klg-KK-PG-BM
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QUOTE(wongmunkeong @ Oct 19 2016, 02:28 PM) "owner" of a/c = parent thanks to help clear the airbeneficiary = kid Thus ParentA AND Kid01 = account number #1 ParentB AND Kid01 = aacount number #2 OR ParentA AND Kid01 = account number #1 ParentA AND Kid02 = account number #2 kapeesh? |
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Oct 21 2016, 02:49 PM
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Junior Member
14 posts Joined: Aug 2016
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Hi All,
I was just wondering if anyone still managed to pay via 'credit card'? Read this forum and noticed that "Kad Kredit" is no longer part mentioned in the website. http://www.ptptn.gov.my/web/guest/simpanan/kemudahan-sspn-i Kemudahan penambahan simpanan SSPN-i boleh dibuat melalui saluran berikut : Kaunter PTPTN (Tunai, Kad Debit / Kad ATM ). |
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Oct 21 2016, 03:14 PM
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Junior Member
14 posts Joined: Aug 2016
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QUOTE(CharAng @ Oct 21 2016, 02:49 PM) Hi All, Managed to call the centre. Confirmed can't used Credit Card anymore. Only last year allowed.I was just wondering if anyone still managed to pay via 'credit card'? Read this forum and noticed that "Kad Kredit" is no longer part mentioned in the website. http://www.ptptn.gov.my/web/guest/simpanan/kemudahan-sspn-i Kemudahan penambahan simpanan SSPN-i boleh dibuat melalui saluran berikut : Kaunter PTPTN (Tunai, Kad Debit / Kad ATM ). "Tambahan" not allowed. "Bayar Balik" can use. Missed the boat... |
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Oct 21 2016, 05:26 PM
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Senior Member
1,143 posts Joined: Sep 2008
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QUOTE(CharAng @ Oct 21 2016, 02:49 PM) Hi All, Discontinued since last year.I was just wondering if anyone still managed to pay via 'credit card'? Read this forum and noticed that "Kad Kredit" is no longer part mentioned in the website. http://www.ptptn.gov.my/web/guest/simpanan/kemudahan-sspn-i Kemudahan penambahan simpanan SSPN-i boleh dibuat melalui saluran berikut : Kaunter PTPTN (Tunai, Kad Debit / Kad ATM ). |
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Oct 21 2016, 06:00 PM
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Senior Member
781 posts Joined: Jan 2003 From: Ipoh
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I just went to their branch on Monday (5 days ago) and credit card deposit for SSPN-i account still valid, only normal SSPN account can't.
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Oct 23 2016, 09:17 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(kw @ Oct 21 2016, 06:00 PM) I just went to their branch on Monday (5 days ago) and credit card deposit for SSPN-i account still valid, only normal SSPN account can't. Oh why.. whyI want to use credit card lei... |
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Oct 24 2016, 04:19 PM
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Junior Member
372 posts Joined: Sep 2006
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QUOTE(kw @ Oct 21 2016, 06:00 PM) I just went to their branch on Monday (5 days ago) and credit card deposit for SSPN-i account still valid, only normal SSPN account can't. May I know which branch did you went to? |
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Oct 24 2016, 05:34 PM
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Senior Member
781 posts Joined: Jan 2003 From: Ipoh
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QUOTE(brianklc @ Oct 24 2016, 04:19 PM) May I know which branch did you went to? USJ1 Giant and also Menara MRCB, Shah Alam |
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Oct 24 2016, 08:44 PM
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(kw @ Oct 21 2016, 06:00 PM) I just went to their branch on Monday (5 days ago) and credit card deposit for SSPN-i account still valid, only normal SSPN account can't. Based on your post, I called up PTPTN branch at my local vicinity and inquired. The officer on duty told me SSPN-i "penambahan deposit" cannot use credit card, only debit card.However for "Bayaran balik pinjaman" the payor can use credit-card payment. I think you may have confused "bayaran balik pinjaman" with "penambahan deposit". Xuzen |
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Oct 25 2016, 04:12 PM
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Senior Member
781 posts Joined: Jan 2003 From: Ipoh
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QUOTE(xuzen @ Oct 24 2016, 08:44 PM) Based on your post, I called up PTPTN branch at my local vicinity and inquired. The officer on duty told me SSPN-i "penambahan deposit" cannot use credit card, only debit card. Well, that's what the reply I received that day upon enquiries at the counter, trust or not is up to you.However for "Bayaran balik pinjaman" the payor can use credit-card payment. I think you may have confused "bayaran balik pinjaman" with "penambahan deposit". Xuzen Anyway, can or cannot also not affecting me since mine is SSPN account, sure can't use credit card deposit anymore. |
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Oct 31 2016, 12:24 PM
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Junior Member
183 posts Joined: Aug 2011
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QUOTE(nexona88 @ Jun 9 2015, 10:15 PM) no time to convert into English.. next week maybe ready 1 year++ later... https://goo.gl/Bju2rH Sorry: > It's messy, semi-rushed it because occupied with work > My BM is very rusty (rarely use it) so I did the best I can > I have further questions, I have to leave, will ask when I return So meanwhile hope this helps This post has been edited by Skyfer: Oct 31 2016, 12:25 PM |
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Dec 4 2016, 01:44 PM
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Newbie
4 posts Joined: Aug 2013
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SSPN-i Plus
I have one question here. I'm single and can I open account for my parent in order to enjoy the takaful benefit(36critical illness,Accident,Nature Death) once anything(touch wood) happen to my parent? Was attracted to the takaful benefit(for parent) since I don't have child to entitle me for tax exemption. Thanks |
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Dec 4 2016, 04:10 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(Squarrel @ Dec 4 2016, 01:44 PM) SSPN-i Plus while waiting for more value added responses,...you may try the info from here....which I think the answers are hidden in there...I have one question here. I'm single and can I open account for my parent in order to enjoy the takaful benefit(36critical illness,Accident,Nature Death) once anything(touch wood) happen to my parent? Was attracted to the takaful benefit(for parent) since I don't have child to entitle me for tax exemption. Thanks https://www.ptptn.gov.my/web/guest/simpanan/cukai |
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Dec 4 2016, 04:55 PM
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All Stars
11,954 posts Joined: May 2007
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QUOTE(Squarrel @ Dec 4 2016, 01:44 PM) SSPN-i Plus cannot.I have one question here. I'm single and can I open account for my parent in order to enjoy the takaful benefit(36critical illness,Accident,Nature Death) once anything(touch wood) happen to my parent? Was attracted to the takaful benefit(for parent) since I don't have child to entitle me for tax exemption. Thanks only for ur child |
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Dec 10 2016, 12:24 AM
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Senior Member
1,110 posts Joined: Oct 2006
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Better get pure insurance and go unit trust
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Dec 10 2016, 12:25 AM
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Senior Member
1,110 posts Joined: Oct 2006
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Google I great ameen
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Dec 10 2016, 12:26 AM
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Senior Member
3,019 posts Joined: Oct 2005
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no offense guys, its kinda like a red flag, hinting PTPTN going out of money, due to lots of people not repaying loans....
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Dec 10 2016, 02:29 PM
Show posts by this member only | IPv6 | Post
#137
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(john123x @ Dec 10 2016, 12:26 AM) no offense guys, its kinda like a red flag, hinting PTPTN going out of money, due to lots of people not repaying loans.... M keen to know how they managed to stay afloat considering the huge deficit cumulatively |
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Dec 10 2016, 02:52 PM
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All Stars
48,447 posts Joined: Sep 2014 From: REality
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QUOTE(john123x @ Dec 10 2016, 12:26 AM) no offense guys, its kinda like a red flag, hinting PTPTN going out of money, due to lots of people not repaying loans.... That's why now they go hunting loan defaulters like ahlong  |
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Dec 20 2016, 05:36 PM
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Senior Member
9,333 posts Joined: May 2009
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QUOTE(sspniplus online agent @ Dec 20 2016, 05:30 PM) enjoy tax rebate up to rm12,000 with sspn i plus Stop with your stupid spam.click this link to register https://sspniplusonline.ptptn.gov.my/sspnip...e/?id=000003871 I dont need yoru sspn plus nonsense. |
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Dec 21 2016, 03:26 AM
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Junior Member
531 posts Joined: Oct 2016
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Hi guys. Is it a good idea to invest in SSPN/SSPN-i (not interested in the Plus) for the long run to get the maximum RM6,000 tax relief every year (e.g. put RM500 every month)? I'm not intending to use the money in SSPN-i in the short run as I already have an emergency fund to cover any emergencies.
Is there a drawback I'm not seeing? |
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Dec 21 2016, 07:14 AM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(imnotabot @ Dec 21 2016, 03:26 AM) Hi guys. Is it a good idea to invest in SSPN/SSPN-i (not interested in the Plus) for the long run to get the maximum RM6,000 tax relief every year (e.g. put RM500 every month)? I'm not intending to use the money in SSPN-i in the short run as I already have an emergency fund to cover any emergencies. jfi,Is there a drawback I'm not seeing? as per current available policy...the RM 6000 tax relief is still 2017, then I suppose it would go back to RM 3000 http://www.hasil.org.my/bt_goindex.php?bt_...sequ=1&bt_lgv=2 the main drawback is there is certain t & C on its withdrawal.... |
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Dec 21 2016, 10:42 AM
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Junior Member
44 posts Joined: Mar 2016
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Can i enjoy the tax relief if i am single? This SSPN-i scheme is meant for children education right? But the most attractive part is on the tax relief, problem is i am single, so will i be eligible to get this tax relief?
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Dec 21 2016, 12:25 PM
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Junior Member
531 posts Joined: Oct 2016
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No tax relief if you're saving for yourself: https://www.ptptn.gov.my/web/guest/simpanan/cukai
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Jan 4 2017, 09:13 AM
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Senior Member
3,567 posts Joined: Jan 2003 From: Paradise
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When will the penyata hasil for tax relief YA2016 be ready online so that I can download and file it.
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Jan 17 2017, 04:05 PM
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Senior Member
3,812 posts Joined: Apr 2009 From: West Malaysia
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help.. is e-sspn website down?
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Feb 13 2017, 01:18 PM
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Senior Member
1,311 posts Joined: Oct 2012
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4% declared. Ok la ... macam FD jugak. Part of diversification lor. At least not all in the same basket.
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Feb 13 2017, 02:01 PM
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(familyfirst @ Feb 13 2017, 01:18 PM) 4% declared. Ok la ... macam FD jugak. Part of diversification lor. At least not all in the same basket. where you get this info? Reference? Source pls.... or link. |
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Feb 13 2017, 02:02 PM
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Junior Member
376 posts Joined: Dec 2013
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QUOTE(xuzen @ Feb 13 2017, 02:01 PM) where you get this info? Reference? Source pls.... or link. "The National Higher Education Fund (PTPTN) has declared a dividend payout rate of 4% for 2016 Skim Simpanan Pendidikan Nasional (SSPN-i) and SSPN-i Plus"http://www.thesundaily.my/news/2159847 |
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Feb 13 2017, 02:08 PM
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(giko @ Feb 13 2017, 02:02 PM) "The National Higher Education Fund (PTPTN) has declared a dividend payout rate of 4% for 2016 Skim Simpanan Pendidikan Nasional (SSPN-i) and SSPN-i Plus" Wow! I am surprise they do it so early, even earlier than KWSP. Last year I remembered KWSP declared their dividend in Feb and SSPN did theirs in Apr or May.http://www.thesundaily.my/news/2159847 Xuzen |
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Feb 13 2017, 02:36 PM
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Senior Member
1,311 posts Joined: Oct 2012
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QUOTE(xuzen @ Feb 13 2017, 02:08 PM) Wow! I am surprise they do it so early, even earlier than KWSP. Last year I remembered KWSP declared their dividend in Feb and SSPN did theirs in Apr or May. Ya lor. So early. Was expecting KWSP's declaration in coming days. Suddenly saw this. Same rate as last year. Hope KWSP also same rate as last year lor...Xuzen |
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Feb 13 2017, 07:58 PM
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All Stars
11,954 posts Joined: May 2007
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Can we simpan the sspn-i using our own name? 50 year old
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Feb 13 2017, 11:15 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(giko @ Feb 13 2017, 02:02 PM) "The National Higher Education Fund (PTPTN) has declared a dividend payout rate of 4% for 2016 Skim Simpanan Pendidikan Nasional (SSPN-i) and SSPN-i Plus" Nice... tqhttp://www.thesundaily.my/news/2159847 |
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Feb 14 2017, 08:41 AM
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Senior Member
1,311 posts Joined: Oct 2012
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QUOTE(MNet @ Feb 13 2017, 07:58 PM) Can we simpan the sspn-i using our own name? 50 year old Its under your own name actually but need to nominate which kid/child for that account. Meaning the money (when withdraw) will be given back to you and not your child. Do you have any kids? |
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Feb 14 2017, 04:33 PM
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Junior Member
474 posts Joined: Mar 2009
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4% with insurance coverage some more.. consider better than FD already right?
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Feb 14 2017, 09:16 PM
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Senior Member
2,337 posts Joined: Oct 2014
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Suprised with their dividend, I expected 3.75%
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Feb 22 2017, 01:48 PM
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Newbie
2 posts Joined: Aug 2016
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Where to check the latest balance with dividend?
I click on "Penyata Baki" and choose year 2017. It returns nothing. |
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Feb 22 2017, 03:02 PM
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Senior Member
1,229 posts Joined: Jan 2003 From: Malacca
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QUOTE(dchooks @ Feb 22 2017, 01:48 PM) Where to check the latest balance with dividend? 1st time deposit? month of deposit?I click on "Penyata Baki" and choose year 2017. It returns nothing. |
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Feb 22 2017, 10:16 PM
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Junior Member
187 posts Joined: Jun 2011
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Just want to ask you all here
I deposited for three months on dec 31 16 (first time depositing) When should I top up the deposit again? Is it counted as dec Jan and feb Or Jan feb and mar 17? |
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Feb 23 2017, 10:46 AM
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Newbie
2 posts Joined: Aug 2016
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QUOTE(alex_cyw1985 @ Feb 22 2017, 03:02 PM) 1st time deposit? month of deposit? Yes, it is the first time. I deposited on Dec 2016. |
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Feb 23 2017, 10:55 AM
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Senior Member
1,229 posts Joined: Jan 2003 From: Malacca
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QUOTE(dchooks @ Feb 23 2017, 10:46 AM) Yes, it is the first time. I deposited on Dec 2016. You will receive the interest in early 2018. |
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Feb 23 2017, 01:54 PM
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Junior Member
246 posts Joined: Nov 2014
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ah cannot tax relief meh if open under personnel name?
Want start saving for my future kids education... |
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Feb 23 2017, 02:16 PM
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Senior Member
1,229 posts Joined: Jan 2003 From: Malacca
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QUOTE(Bussybody @ Feb 23 2017, 01:54 PM) ah cannot tax relief meh if open under personnel name? if you have kid, open under your kid name.Want start saving for my future kids education... |
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Mar 27 2017, 02:22 PM
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Junior Member
283 posts Joined: Jul 2016
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May I know if I open an SSPN-i account for my kid now, will I still entitled for RM6,000 tax relief?
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Mar 27 2017, 02:25 PM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(kh_lim @ Mar 27 2017, 02:22 PM) May I know if I open an SSPN-i account for my kid now, will I still entitled for RM6,000 tax relief? see # 10http://www.hasil.org.my/bt_goindex.php?bt_...sequ=1&bt_lgv=2 |
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Mar 27 2017, 02:38 PM
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Junior Member
283 posts Joined: Jul 2016
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QUOTE(T231H @ Mar 27 2017, 02:25 PM) Net saving in SSPN's scheme (with effect from year assessment 2012 until year assessment 2017) 6,000 (Limited) meaning still entitled? This post has been edited by kh_lim: Mar 27 2017, 02:39 PM |
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Mar 27 2017, 02:40 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(kh_lim @ Mar 27 2017, 02:38 PM) Net saving in SSPN's scheme (with effect from year assessment 2012 until year assessment 2017) i read as a yes...what do you interpret?6,000 (Limited) meaning still entitled? |
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Mar 27 2017, 02:46 PM
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Junior Member
283 posts Joined: Jul 2016
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QUOTE(MUM @ Mar 27 2017, 02:40 PM) i read as a yes...what do you interpret? I interpret the same as you...However, I read few articles mentioning that the last entitlement date was 31st Dec 2016, that's why I'm curious... |
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Mar 27 2017, 03:19 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(kh_lim @ Mar 27 2017, 02:46 PM) I interpret the same as you... i interpret the word from LHDN website...."until year assessment 2017"However, I read few articles mentioning that the last entitlement date was 31st Dec 2016, that's why I'm curious... so when are we going to file the 2017 year assessment...in April 2018 no? |
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Mar 27 2017, 03:38 PM
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Junior Member
283 posts Joined: Jul 2016
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QUOTE(MUM @ Mar 27 2017, 03:19 PM) i interpret the word from LHDN website...."until year assessment 2017" Yes, I've the same thought like you. Gotta check this out at PTPTN counter...so when are we going to file the 2017 year assessment...in April 2018 no? thanks anyway, for your help |
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Mar 27 2017, 03:42 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(kh_lim @ Mar 27 2017, 03:38 PM) Yes, I've the same thought like you. Gotta check this out at PTPTN counter... after having checked,..pls feedback here will you?thanks anyway, for your help |
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Mar 27 2017, 04:00 PM
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Junior Member
283 posts Joined: Jul 2016
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QUOTE(MUM @ Mar 27 2017, 03:42 PM) after having checked,..pls feedback here will you? Sure, I will...  Sharing is caring... |
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Mar 30 2017, 11:56 AM
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Junior Member
283 posts Joined: Jul 2016
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Verified through PTPTN counter and according to them, still entitled for tax relief if open SSPN-i account this year...
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Apr 2 2017, 04:55 PM
Show posts by this member only | IPv6 | Post
#173
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Junior Member
601 posts Joined: Mar 2013
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QUOTE(alex_cyw1985 @ Feb 23 2017, 02:16 PM) if you have kid, open under your kid name. the account is opened under personal name rite? only the menerima manfaat is kids name |
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Jun 28 2017, 02:53 PM
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Senior Member
1,589 posts Joined: Sep 2011
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Still got tax relieve ? Is it stop?
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Jun 28 2017, 08:57 PM
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All Stars
11,954 posts Joined: May 2007
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still got
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Jun 29 2017, 06:53 AM
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Senior Member
551 posts Joined: Mar 2015 From: selangor
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Sspn I plus , where sspn redesign their product saving + takaful (insurance)
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Jun 29 2017, 09:02 AM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(kelvinfixx @ Jun 28 2017, 02:53 PM) Still got tax relieve ? Is it stop? This year will be the last for relief up to RM 6kUnless there's an extension from Budget 2018; otherwise, it'll be reverted back to RM 3k relief. |
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Jun 29 2017, 02:20 PM
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Senior Member
1,589 posts Joined: Sep 2011
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QUOTE(David83 @ Jun 29 2017, 09:02 AM) This year will be the last for relief up to RM 6k I want to open account onlineUnless there's an extension from Budget 2018; otherwise, it'll be reverted back to RM 3k relief. https://www.ptptn.gov.my/esmas-open-acc-web/#/openAccount Butir-butir Pendeposit <- My info? Jenis akuan <- Untuk diri sendiri? Butir-butir Penerima Manfaat/Diri Sendiri <- My chidlren? Butir-butir Waris Terdekat <- who? |
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Jun 29 2017, 02:33 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(David83 @ Jun 29 2017, 09:02 AM) This year will be the last for relief up to RM 6k Hope they extend somemore.. Unless there's an extension from Budget 2018; otherwise, it'll be reverted back to RM 3k relief. |
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Jun 29 2017, 02:41 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(kelvinfixx @ Jun 29 2017, 02:20 PM) I want to open account online For your children, shouldn't this field be "Untuk Anak Jagaan Yang Sah"?https://www.ptptn.gov.my/esmas-open-acc-web/#/openAccount Butir-butir Pendeposit <- My info? Jenis akuan <- Untuk diri sendiri? Butir-butir Penerima Manfaat/Diri Sendiri <- My chidlren? Butir-butir Waris Terdekat <- who? Waris Terdekat ---> Your wife? I'm not sure. This post has been edited by David83: Jun 29 2017, 02:49 PM |
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Jun 29 2017, 02:46 PM
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Senior Member
1,589 posts Joined: Sep 2011
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QUOTE(David83 @ Jun 29 2017, 02:41 PM) For your children, should this field be "Untuk Anak Jagaan Yang Sah"? ThanksWaris Terdekat ---> Your wife? I'm not sure. |
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Jul 18 2017, 08:37 AM
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Junior Member
482 posts Joined: Jan 2016 From: Joined : 2008
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Anyone knows how to claim the sspni plus takaful?
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Aug 25 2017, 11:10 AM
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Junior Member
9 posts Joined: May 2007 From: Kuala Lumpur
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QUOTE(citacitata @ Jul 18 2017, 08:37 AM) Anyone knows how to claim the sspni plus takaful? What claims do you want? Dead? |
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Sep 6 2017, 10:27 AM
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Junior Member
650 posts Joined: Jan 2003
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Hi, all sifu, want to clarify sth
1. I heard tax relief until this year only and no more tax relief starting next year? 2. But I also saw some above post say it will drop back to 3k next year, if yes, it will continue for how long? as long as the fund goes? 3. My EPF tax deduction is already fullfilled (6k) , is it still wise to invest? 4. I heard if withdraw the money, you will need to pay back all the tax deduction that you had, is that true? I saw every year at least 4%, I bet that is at least better than FD. |
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Sep 6 2017, 10:36 AM
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Junior Member
460 posts Joined: Dec 2004
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QUOTE(neo_6053 @ Sep 6 2017, 10:27 AM) Hi, all sifu, want to clarify sth EPF tax deduction and SSPN tax deduction is under different category. So if you invested 6k, you can get extra 6k tax deduction even though your EPF already max out.1. I heard tax relief until this year only and no more tax relief starting next year? 2. But I also saw some above post say it will drop back to 3k next year, if yes, it will continue for how long? as long as the fund goes? 3. My EPF tax deduction is already fullfilled (6k) , is it still wise to invest? 4. I heard if withdraw the money, you will need to pay back all the tax deduction that you had, is that true? I saw every year at least 4%, I bet that is at least better than FD. |
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Sep 6 2017, 10:37 AM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(neo_6053 @ Sep 6 2017, 10:27 AM) Hi, all sifu, want to clarify sth This post has been edited by MUM: Sep 7 2017, 12:35 AM1. I heard tax relief until this year only and no more tax relief starting next year? Yes, seems like would goes back to RM3k next year from RM 6k this year 2. But I also saw some above post say it will drop back to 3k next year, if yes, it will continue for how long? as long as the fund goes? Until the govt says 3. My EPF tax deduction is already fullfilled (6k) , is it still wise to invest? Depends on the tax advantage, the cash flow you hv, the need to use that money.... 4. I heard if withdraw the money, you will need to pay back all the tax deduction that you had, is that true? No.... I saw every year at least 4%, I bet that is at least better than FD. Fd much more flexible..... |
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Sep 6 2017, 11:03 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(MUM @ Sep 6 2017, 10:37 AM) No....you can only take out a potion of that money...not alltje money.....and themoney taken out will be subjected to tax.....(i think is 8%.)...you need to google to confirm the %. I saw every year at least 4%, I bet that is at least better than FD. Fd much more flexible..... er.. bro, this is SSPN leh, not PRS. 1. Can take out fully or partially from SSPN right? VS PRS can take out from A/C B je (which consist of 30% of invested) 2. Got 8% tax meh if taken out $ from SSPN? VS PRS 8% tax out liquidated PRS A/C B if before 55 years old. This post has been edited by wongmunkeong: Sep 6 2017, 11:05 AM |
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Sep 6 2017, 11:05 AM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(wongmunkeong @ Sep 6 2017, 11:03 AM) I heard if withdraw the money, you will need to pay back all the tax deduction that you had, is that true? holi shit....that was the PRS....No....you can only take out a potion of that money...not alltje money.....and themoney taken out will be subjected to tax.....(i think is 8%.)...you need to google to confirm the %. I saw every year at least 4%, I bet that is at least better than FD. Fd much more flexible..... er.. bro, this is SSPN leh, not PRS. Got 8% tax meh if taken out $ from SSPN? |
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Sep 6 2017, 11:06 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(MUM @ Sep 6 2017, 11:05 AM) holi shit....that was the PRS.... hehe - happens to me too when blood caffeine's low. yup, i suffer from that, not low blood sugar |
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Sep 6 2017, 10:50 PM
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Junior Member
650 posts Joined: Jan 2003
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QUOTE(MUM @ Sep 6 2017, 10:37 AM) When is budget 2018? It will be included in the announcement right? |
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Sep 6 2017, 10:53 PM
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Junior Member
650 posts Joined: Jan 2003
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Well, my tax is high now and want to look for education fund for my kid and I m sucks at investing, Infact hvnt invest any. Thus, want to start with education fund at least. And Tax deduction is great too
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Sep 7 2017, 12:36 AM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(neo_6053 @ Sep 6 2017, 10:50 PM) So, is it totally no tax deduction next year or rm3k or wait government announce? Yes, seems like would goes back to RM3k next year from RM 6k this year When is budget 2018? It will be included in the announcement right? yes ...seemed like have to see if they will maintain at 6k |
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Sep 20 2017, 06:38 PM
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Junior Member
19 posts Joined: Feb 2012
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If i hav SSPN account, is i can hav tax deduction or only for child?
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Sep 20 2017, 09:54 PM
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All Stars
11,954 posts Joined: May 2007
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only for child then u can deduct ur tax
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Oct 21 2017, 12:42 AM
Show posts by this member only | IPv6 | Post
#195
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Senior Member
3,705 posts Joined: Sep 2004 From: Malaysia
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QUOTE Withdrawal of savings can only be done after one (1) year of saving in the SSPN. The withdrawal of 10% of the balance in the account or RM500 (whichever is lower) once annually is allowed (after one year of becoming member). Not quite understand this statement.... anyone can enlighten me? |
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Oct 21 2017, 09:47 AM
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Senior Member
5,143 posts Joined: Jan 2015
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QUOTE(Sphenix @ Oct 21 2017, 12:42 AM) Not quite understand this statement.... anyone can enlighten me? try to break down that statement into shorter one ....then I think it would be easier to "see"1) Withdrawal of savings can only be done after one (1) year of saving in the SSPN. 2) The withdrawal of 10% of the balance in the account or RM500 (whichever is lower) 3) once annually is allowed (after one year of becoming member). easier to see right? now which question you don't understand? |
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Oct 21 2017, 06:19 PM
Show posts by this member only | IPv6 | Post
#197
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Senior Member
3,705 posts Joined: Sep 2004 From: Malaysia
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QUOTE(T231H @ Oct 21 2017, 09:47 AM) try to break down that statement into shorter one ....then I think it would be easier to "see" cos I confuse the 10% balance....now understand.1) Withdrawal of savings can only be done after one (1) year of saving in the SSPN. 2) The withdrawal of 10% of the balance in the account or RM500 (whichever is lower) 3) once annually is allowed (after one year of becoming member). easier to see right? now which question you don't understand? but what is " once annually is allowed (after one year of becoming member)." ain't register SSPN will become member? |
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Oct 21 2017, 06:44 PM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(Sphenix @ Oct 21 2017, 06:19 PM) cos I confuse the 10% balance....now understand. looks like they are related to Q1?)but what is " once annually is allowed (after one year of becoming member)." ain't register SSPN will become member? "cannot do withdrawal within 1 yr after having joined as a member?" |
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Oct 22 2017, 10:38 AM
Show posts by this member only | IPv6 | Post
#199
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Senior Member
3,705 posts Joined: Sep 2004 From: Malaysia
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QUOTE(yklooi @ Oct 21 2017, 06:44 PM) looks like they are related to Q1?) Great.... gonna look for registration counter.... thanks"cannot do withdrawal within 1 yr after having joined as a member?" |
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Oct 22 2017, 10:47 AM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(Sphenix @ Oct 22 2017, 10:38 AM) Great.... gonna look for registration counter.... thanks I think I read before....some says...if not for the tax saving or if the tax saving is not substantial...try not go into SSPN..... for there are other better returns investment vehicle due to the long investment duration |
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Oct 22 2017, 11:15 PM
Show posts by this member only | IPv6 | Post
#201
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Senior Member
3,705 posts Joined: Sep 2004 From: Malaysia
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QUOTE(yklooi @ Oct 22 2017, 10:47 AM) I think I read before.... yup, is look for tax relief actually.....or perhaps got better relief than tat?some says...if not for the tax saving or if the tax saving is not substantial...try not go into SSPN..... for there are other better returns investment vehicle due to the long investment duration |
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Nov 1 2017, 03:13 PM
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Senior Member
2,232 posts Joined: May 2006 From: Petaling Jaya
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I have questions for those who have experience in this.
I don't have time to do the grunt work, so my husband will be the one going to open the accounts for our 2 kids. He will deposit 6k for each kid and we want max out the 6k tax relief for both of us. Question is, for me to submit for tax relief, do I need to be there to open the account? I'm not sure the account holder is kid's name or parent's name. This post has been edited by Amanda85: Nov 1 2017, 03:15 PM |
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Nov 1 2017, 04:02 PM
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Junior Member
78 posts Joined: Jan 2010 From: Earth
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QUOTE(Amanda85 @ Nov 1 2017, 03:13 PM) I have questions for those who have experience in this. You need to do your name for one of your kids and your hubby name for the second one.I don't have time to do the grunt work, so my husband will be the one going to open the accounts for our 2 kids. He will deposit 6k for each kid and we want max out the 6k tax relief for both of us. Question is, for me to submit for tax relief, do I need to be there to open the account? I'm not sure the account holder is kid's name or parent's name. Your name will be the "depositor" (pendeposit) and your kids name is the "beneficiary" (penerima manfaat). That will allow tax rebate under your name as the depositor. If your hubby put your name and both of your kids under your name, only one name is available for tax relief. Once you have an account, you can use the online web statement site: (no https lol) http://esspniplus.ptptn.gov.my/penyatasp/ |
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Nov 1 2017, 10:49 PM
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Senior Member
852 posts Joined: Jan 2003
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Open online vs open at physical branch.
Any difference? Free gift? |
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Nov 1 2017, 11:00 PM
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Junior Member
16 posts Joined: Feb 2017
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QUOTE(Babablacksheep @ Nov 1 2017, 10:49 PM) Open online vs open at physical branch. I got big payung at PTPTN BranchAny difference? Free gift? |
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Nov 2 2017, 08:13 AM
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Senior Member
2,232 posts Joined: May 2006 From: Petaling Jaya
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QUOTE(muhammadb @ Nov 1 2017, 04:02 PM) You need to do your name for one of your kids and your hubby name for the second one. Thanks for the information.Your name will be the "depositor" (pendeposit) and your kids name is the "beneficiary" (penerima manfaat). That will allow tax rebate under your name as the depositor. If your hubby put your name and both of your kids under your name, only one name is available for tax relief. Once you have an account, you can use the online web statement site: (no https lol) http://esspniplus.ptptn.gov.my/penyatasp/ |
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Nov 2 2017, 09:14 AM
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Senior Member
1,311 posts Joined: Oct 2012
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QUOTE(Amanda85 @ Nov 1 2017, 03:13 PM) I have questions for those who have experience in this. My spouse managed to open an account for me without my presence. FYI, both parents can open a separate account each even with one child.I don't have time to do the grunt work, so my husband will be the one going to open the accounts for our 2 kids. He will deposit 6k for each kid and we want max out the 6k tax relief for both of us. Question is, for me to submit for tax relief, do I need to be there to open the account? I'm not sure the account holder is kid's name or parent's name. |
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Nov 2 2017, 10:06 AM
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Senior Member
2,232 posts Joined: May 2006 From: Petaling Jaya
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QUOTE(familyfirst @ Nov 2 2017, 09:14 AM) My spouse managed to open an account for me without my presence. FYI, both parents can open a separate account each even with one child. Good to know. I will ask my husband to try it out as I don't want to take leave. |
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Nov 2 2017, 10:09 AM
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Junior Member
144 posts Joined: May 2010
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when I can request for full amount withdraw, if my child not going to high education? Do this have any mature date? which mean if my child is already age 29 i can fully withdraw?
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Nov 2 2017, 03:30 PM
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Senior Member
852 posts Joined: Jan 2003
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QUOTE(faza @ Nov 1 2017, 11:00 PM) I got big payung at PTPTN Branch Bring Cheque Book to deposit instantly?Or just opening. u get a payung haha |
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Nov 24 2017, 04:25 PM
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Junior Member
810 posts Joined: Mar 2008
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hi all,
Is this doable? 1. On Nov/Dec 2017, I go deposit 6k SSPN for my child. (so that can get 6k tax relief in taxable year 2017). 2. On Jan 2018, I go close that SSPN account and take out all the 6k, and go invest something else. Question: 1. Can I close the account and withdraw all the $$ in such short time frame? 2. If can do, will my 6k tax relief still valid? |
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Nov 24 2017, 04:28 PM
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Senior Member
2,232 posts Joined: May 2006 From: Petaling Jaya
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QUOTE(alesi616 @ Nov 24 2017, 04:25 PM) hi all, we report our income tax by April 2018, i think need to wait at least till that time frame.Is this doable? 1. On Nov/Dec 2017, I go deposit 6k SSPN for my child. (so that can get 6k tax relief in taxable year 2017). 2. On Jan 2018, I go close that SSPN account and take out all the 6k, and go invest something else. Question: 1. Can I close the account and withdraw all the $$ in such short time frame? 2. If can do, will my 6k tax relief still valid? |
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Nov 24 2017, 04:33 PM
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Senior Member
983 posts Joined: Jul 2008
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Hi, how do we check the dividend? I check online the SSPN account only have tax invoice but no dividend is stated.
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Nov 24 2017, 08:08 PM
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Senior Member
1,137 posts Joined: Jan 2009
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I did my account opening online and deposited Fpx of rm20
But no news after one week, what shall I do? |
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Nov 24 2017, 11:27 PM
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Junior Member
810 posts Joined: Mar 2008
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QUOTE(Amanda85 @ Nov 24 2017, 04:28 PM) we report our income tax by April 2018, i think need to wait at least till that time frame. Hi,Have you try do that ? I am ok to wait till around Apr2018 to close account. My main concern is can close account within 1 year ? I google and found a lot people said withdrawal $$ very troublesm, only allow once per year (max rm500 withdrawal), this is for the scenario of u keeping the SSPN account alive and take out some money. But I cannot find people mention about is it doable to close the account in short period. |
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Nov 25 2017, 02:18 PM
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Senior Member
8,259 posts Joined: Sep 2009
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Ah.. Tesco at the curve area still got sspn counter ah?
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Dec 6 2017, 07:10 AM
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Senior Member
1,137 posts Joined: Jan 2009
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QUOTE(ruben7389 @ Nov 24 2017, 08:08 PM) I did my account opening online and deposited Fpx of rm20 Ok got letter From SSPN acct opening successful But no news after one week, what shall I do? Anyone know When is last date we can deposit To be able To use as tax deductiin? 31 Dec can ? |
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Dec 6 2017, 07:11 AM
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Senior Member
1,137 posts Joined: Jan 2009
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QUOTE(alesi616 @ Nov 24 2017, 11:27 PM) Hi, Better dont close account. From What i hear u can Just Withdraw ur funds and keep rm20 balance there. That will allow u To continur To use that account and the withdrawal i hear quite FastHave you try do that ? I am ok to wait till around Apr2018 to close account. My main concern is can close account within 1 year ? I google and found a lot people said withdrawal $$ very troublesm, only allow once per year (max rm500 withdrawal), this is for the scenario of u keeping the SSPN account alive and take out some money. But I cannot find people mention about is it doable to close the account in short period. |
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Dec 6 2017, 04:54 PM
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Senior Member
1,110 posts Joined: Oct 2006
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Just put in sspn, not SSPN-i. do but need monthly contribution. putin when i have money.
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Dec 7 2017, 10:02 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(effectz @ Dec 6 2017, 04:54 PM) Just put in sspn, not SSPN-i. do but need monthly contribution. putin when i have money. You put by visiting their branch? |
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Dec 7 2017, 01:21 PM
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Senior Member
1,110 posts Joined: Oct 2006
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QUOTE(Kaka23 @ Dec 7 2017, 10:02 AM) You put by visiting their branch? They did roadshow at office |
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Dec 7 2017, 08:30 PM
Show posts by this member only | IPv6 | Post
#222
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(effectz @ Dec 7 2017, 01:21 PM) They did roadshow at office wow... nice! |
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Dec 7 2017, 11:15 PM
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Senior Member
1,110 posts Joined: Oct 2006
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I think there are many freelance sspn agents nowadays
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Jan 6 2018, 04:09 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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http://www.ptptn.gov.my/docs/SiaranMedia/2...500_percuma.pdf
“SIMPANAN RM500 PERCUMA, RM500 UNTUK 500,000 PELAJAR” T&C applies PS: Also applies for SSPN-i (the one without insurance cost/premium) This post has been edited by wongmunkeong: Jan 7 2018, 07:49 PM |
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Jan 7 2018, 09:20 PM
Show posts by this member only | IPv6 | Post
#225
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Senior Member
4,436 posts Joined: Oct 2008
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I was at my kids tuition center waiting to pick up my kid ans struck a conversation with another waiting parent. The topic of course centered on education and the topic vered towards saving for child education and SSPN was brought up.
This parent has never heard of SSPN and when I told her about the RM 500.00 govt incentive that really piqued her interest. Then I whipped up my phone calculator and did a simple TVM calculation for her to see the magic of compounding. I told her, if my wife and I were to put in RM 6,000.00 [ this is the max tax relief per depositor ] each per annum into SSPN earning a 4.5% [ this is the historical return of SSPN ] dividend per annum. Let's assume I start saving at age one [ I actually open my kid's SSPN account when he was four days old ]. Lets see what will the amount be like when the kid reach 12 years old. Which is what my kid's age today. PV = 0 PMT = 500 + 500 = 1,000.00 [ monthly auto debit from bank account ] Yr = 12 years x 12 = 144 mths Int = 4.5/12 = 0.375% monthly. Mode = Begin ` Total Future Value = MYR 191,187.50 Now, imagine what will the amount be when he reaches 20 years old [ the age when you need to withdraw to fund his tertairy education ] Future Value at age 20 years old = MYR 394,195.69 Let's assume inflation for tertiary education is 6% per annum. Now I work backwards and see how much this MYR 394K is worth in today's money.... = equivalent to RM 116K in today's value with 6% adjusted inflation. Xuzen |
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Jan 7 2018, 11:04 PM
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Elite
5,784 posts Joined: Jan 2003 From: Shah Alam
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had an existing SSPN-i for my kid. if i add funds online, any signs that show that the GS500 is still available?
*edit, just read. there's no way until the month end when min rm500 deposit is met This post has been edited by kucingfight: Jan 7 2018, 11:26 PM |
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Jan 8 2018, 06:29 AM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(xuzen @ Jan 7 2018, 09:20 PM) I was at my kids tuition center waiting to pick up my kid ans struck a conversation with another waiting parent. The topic of course centered on education and the topic vered towards saving for child education and SSPN was brought up. I for one does not know how to calculate the future value....I participated in the SSPN for the immediate gratification from having pay less taxes + additional "forced" saving............ I told her, if my wife and I were to put in RM 6,000.00 [ this is the max tax relief per depositor ] each per annum into SSPN earning a 4.5% [ this is the historical return of SSPN ] dividend per annum. Let's assume I start saving at age one [ I actually open my kid's SSPN account when he was four days old ] .................. Let's assume inflation for tertiary education is 6% per annum. Now I work backwards and see how much this MYR 394K is worth in today's money.... = equivalent to RM 116K in today's value with 6% adjusted inflation. Xuzen it is actually nice to know from your calculation that the amount I can managed to save from this sspn.... if not for the goal of immediate gratification of tax savings.....I would force my self to go more into this UT things.... from the below post, looks like the ROI of UT is much better than SSPN.... looking from your calculation, the extra 2% pa over that duration will be more substantial..... QUOTE(xuzen @ Jan 7 2018, 09:27 PM) UTF investing is not skim cepat kaya, she needs to utilise the magic of compounding to work her magic. A very conservative compounding of 6% [ which is very easily achievable with UTF investing ] can very much beat the current inflation. If you are abit gung ho, you may engineer your portfolio to go for 9% or 12% if you are a young person with very long investing horizon. UTF works well around this ROI range given time. What UTF investing is not is when participant treat it as a trading platform to go in and out like stock market. This, UTF investing is a very poor choice for such a purpose. Xuzen |
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Jan 8 2018, 11:39 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wongmunkeong @ Jan 6 2018, 04:09 PM) http://www.ptptn.gov.my/docs/SiaranMedia/2...500_percuma.pdf Interesting... you already put in the RM500? “SIMPANAN RM500 PERCUMA, RM500 UNTUK 500,000 PELAJAR” T&C applies PS: Also applies for SSPN-i (the one without insurance cost/premium) |
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Jan 8 2018, 11:44 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(xuzen @ Jan 7 2018, 09:20 PM) I was at my kids tuition center waiting to pick up my kid ans struck a conversation with another waiting parent. The topic of course centered on education and the topic vered towards saving for child education and SSPN was brought up. Can both parents open SSPN account for the same child.. then both parents get tax relief?This parent has never heard of SSPN and when I told her about the RM 500.00 govt incentive that really piqued her interest. Then I whipped up my phone calculator and did a simple TVM calculation for her to see the magic of compounding. I told her, if my wife and I were to put in RM 6,000.00 [ this is the max tax relief per depositor ] each per annum into SSPN earning a 4.5% [ this is the historical return of SSPN ] dividend per annum. Let's assume I start saving at age one [ I actually open my kid's SSPN account when he was four days old ]. Lets see what will the amount be like when the kid reach 12 years old. Which is what my kid's age today. PV = 0 PMT = 500 + 500 = 1,000.00 [ monthly auto debit from bank account ] Yr = 12 years x 12 = 144 mths Int = 4.5/12 = 0.375% monthly. Mode = Begin ` Total Future Value = MYR 191,187.50 Now, imagine what will the amount be when he reaches 20 years old [ the age when you need to withdraw to fund his tertairy education ] Future Value at age 20 years old = MYR 394,195.69 Let's assume inflation for tertiary education is 6% per annum. Now I work backwards and see how much this MYR 394K is worth in today's money.... = equivalent to RM 116K in today's value with 6% adjusted inflation. Xuzen |
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Jan 8 2018, 11:45 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Kaka23 @ Jan 8 2018, 11:39 AM) Interesting... you already put in the RM500? ah buh den? remember, for kids within x to y years old ya.heheh later, another 5.5K lor, for other kids or same kid kiasu, kiasi, kiaboh = FOMO (me)QUOTE(Kaka23 @ Jan 8 2018, 11:44 AM) Can both parents open SSPN account for the same child.. then both parents get tax relief? Yup, 2 parents to 1 kidcoz EACH parent to 1 kid = 1 different account, held in Parent's name for beneficiary of Kid This post has been edited by wongmunkeong: Jan 8 2018, 11:46 AM |
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Jan 8 2018, 11:56 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wongmunkeong @ Jan 8 2018, 11:45 AM) ah buh den? remember, for kids within x to y years old ya. You do it via online (Maybank2u) to top up the 500?heheh later, another 5.5K lor, for other kids or same kid kiasu, kiasi, kiaboh = FOMO (me)Yup, 2 parents to 1 kid coz EACH parent to 1 kid = 1 different account, held in Parent's name for beneficiary of Kid oh man.. I am losing out few years already didnt get my other part to put in SSPN!! |
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Jan 8 2018, 12:03 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Kaka23 @ Jan 8 2018, 11:56 AM) You do it via online (Maybank2u) to top up the 500? Yup, Maybank2U online payment oh man.. I am losing out few years already didnt get my other part to put in SSPN!! Well, if your cash U put into 10% to 20% pa returns thing ok ma, 3 years+/- beats SSPN liao including tax benefit. If >=5 years+, sure beat SSPN liao me, i just treat SSPN as a portion of cash (fixed income subset) in my Asset Allocation, thus, no eye see |
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Jan 13 2018, 01:48 AM
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Junior Member
123 posts Joined: Dec 2017
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Hi guys,
I have some questions. I just invested RM6,000 in SSPN-I account in Dec 2017 through online. I got a little bit confused here. Below are my questions: 1) Is it possible for me to withdraw all RM6,000 now? 2) If yes, how do I do it? I only see below requirement from their websites, and dont see any buttons there / through where should I withdraw my money: If the remaining balance is less than RM3,000.00 in the SSPN-i account Required documents: i. Borang Penutupan Akaun or Borang Pengeluaran/ Penutupan Akaun/ Tuntutan Geran Sepadan. ii. Copy of MyKad/ Police or Military card of heir; iii. Copy of SSPN-i card. iv. Death certificate of depositor. iv. Borang Pengesahan Waris to SSPN-i depositor (the decease). v. Borang Bon Tanggung Rugi (RM10.00 stamp duty included). vi. Personal bank account number if the heir intend to have the amount credited into their accounts. This post has been edited by Bullorbear: Jan 13 2018, 01:49 AM |
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Jan 14 2018, 02:13 PM
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Senior Member
3,333 posts Joined: Mar 2011
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Guys, quick question, is the max tax rebate 6 or 12k?
I remember seeing some banner stated 12k. |
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Jan 14 2018, 02:21 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(Glcotan @ Jan 14 2018, 02:13 PM) Guys, quick question, is the max tax rebate 6 or 12k? while waiting for esponses...I found this while googling....I remember seeing some banner stated 12k. Pelepasan taksiran cukai pendapatan ke atas simpanan SSPN1M-i https://www.ptptn.gov.my/web/guest/simpanan/cukai so how did this 12k come about..... read this under Perlepasan Cukai Pendapatan... https://terengganutimes.com/keistimewaan-ss...k-keluarga-anda |
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Jan 14 2018, 02:32 PM
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Senior Member
3,333 posts Joined: Mar 2011
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QUOTE(MUM @ Jan 14 2018, 02:21 PM) while waiting for esponses...I found this while googling.... ThanksPelepasan taksiran cukai pendapatan ke atas simpanan SSPN1M-i https://www.ptptn.gov.my/web/guest/simpanan/cukai so how did this 12k come about..... read this under Perlepasan Cukai Pendapatan... https://terengganutimes.com/keistimewaan-ss...k-keluarga-anda My wife nor working, means can only get 6k from ptptn rebate |
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Jan 14 2018, 02:41 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(Glcotan @ Jan 14 2018, 02:32 PM) Thanks not working, if not subjected to tax...then no benefits to contributeMy wife nor working, means can only get 6k from ptptn rebate yes 6k if you had already maxed your life insurance/EPF deductions.... btw, have you done PRS?...another 3K https://www.google.com/search?source=hp&ei=...1.0.JZxiKGncPdM This post has been edited by MUM: Jan 14 2018, 02:51 PM |
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Mar 19 2018, 04:29 PM
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Senior Member
954 posts Joined: Dec 2006
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Any free gifts if open account online? Was thinking of doing that, then saw a branch near my place...
Still, kinda lazy to make a 30+ minute detour to open an account. |
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Mar 21 2018, 03:22 PM
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Senior Member
8,259 posts Joined: Sep 2009
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Is this SSPN1M RM500 the same as early this year GS500 that we get?
Disini kami ingin mengambil peluang untuk berkongsi dengan anda berita baik ini iaitu pelaksanaan insentif percuma RM500 SSPN1M mulai 1 Januari 2018 hingga 31 Disember 2018 terbuka untuk anak anda yang berusia 7-12 tahun. SSPN1M adalah Skim Simpanan Pendidikan Nasional 1 Malaysia yang dijenamakan semula daripada produk simpanan PTPTN. Rebutlah peluang untuk mendapatkan percuma RM500** dari SSPN1M. Simpanlah sekarang dan teruskan penabungan bagi menjamin masa depan pendidikan anak-anak anda!! |
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Mar 21 2018, 05:28 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Kaka23 @ Mar 21 2018, 03:22 PM) Is this SSPN1M RM500 the same as early this year GS500 that we get? mine dah masuk in my gir's SSPN liao Disini kami ingin mengambil peluang untuk berkongsi dengan anda berita baik ini iaitu pelaksanaan insentif percuma RM500 SSPN1M mulai 1 Januari 2018 hingga 31 Disember 2018 terbuka untuk anak anda yang berusia 7-12 tahun. SSPN1M adalah Skim Simpanan Pendidikan Nasional 1 Malaysia yang dijenamakan semula daripada produk simpanan PTPTN. Rebutlah peluang untuk mendapatkan percuma RM500** dari SSPN1M. Simpanlah sekarang dan teruskan penabungan bagi menjamin masa depan pendidikan anak-anak anda!! now aiming for the petrol cards bwhaaha |
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Mar 21 2018, 05:51 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(wongmunkeong @ Mar 21 2018, 05:28 PM) mine dah masuk in my gir's SSPN liao What petrol cards?now aiming for the petrol cards bwhaaha |
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Mar 21 2018, 08:12 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(David83 @ Mar 21 2018, 05:51 PM) What petrol cards? 
hm.. CNY time (before/after) can see it in PTPTN's website rolling advertisement Now can only see SSPNi+ (the one with insurance) only found the link http://www.ptptn.gov.my/web/guest/go-cashless-and-win This post has been edited by wongmunkeong: Mar 21 2018, 08:20 PM |
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Mar 21 2018, 08:15 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wongmunkeong @ Mar 21 2018, 05:28 PM) mine dah masuk in my gir's SSPN liao This is the one same as what we talked about in Jan right? Not something additional with another RM500 free?now aiming for the petrol cards bwhaaha This post has been edited by Kaka23: Mar 21 2018, 08:17 PM |
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Mar 21 2018, 08:19 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wongmunkeong @ Mar 21 2018, 08:12 PM)
hm.. CNY time (before/after) can see it in PTPTN's website rolling advertisement Now can only see SSPNi+ (the one with insurance) only I didnt get this email pun...  |
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Mar 21 2018, 08:20 PM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(Kaka23 @ Mar 21 2018, 08:19 PM) woah... you must be primer invester for SSPN no lar - i received the RM500 early in the year ma (Jan) then the added this info I didnt get this email pun... found the link http://www.ptptn.gov.my/web/guest/go-cashless-and-win and maybe they know i'm a kiasu fler.. whack lar.. every month whack $100 + $100 FPX / cashless if get good lar else also doing my $6K/pa heheh This post has been edited by wongmunkeong: Mar 21 2018, 08:22 PM |
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Mar 21 2018, 10:01 PM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(wongmunkeong @ Mar 21 2018, 08:20 PM) no lar - i received the RM500 early in the year ma (Jan) then the added this info ah.. i miss thisfound the link http://www.ptptn.gov.my/web/guest/go-cashless-and-win and maybe they know i'm a kiasu fler.. whack lar.. every month whack $100 + $100 FPX / cashless if get good lar else also doing my $6K/pa heheh |
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Apr 15 2018, 12:16 PM
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Junior Member
747 posts Joined: Nov 2014
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If we deposit rm6000, still need to pay rm20 monthly?
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Apr 15 2018, 01:12 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(jenern84 @ Apr 15 2018, 12:16 PM) If we deposit rm6000, still need to pay rm20 monthly? sorry I did not follow earlier conversation....may I know what is the RM 20 monthly is for? |
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Apr 15 2018, 05:25 PM
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Senior Member
1,251 posts Joined: Jan 2012
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Guys I still confuse whether tax relief of RM 6k or 12k applicable for individual who still single and Not yet marry?
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Apr 15 2018, 05:43 PM
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Junior Member
747 posts Joined: Nov 2014
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Do we deposit rm6000 once or rm6000 every year in order to enjoy the rm6000 tax relief?
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Apr 15 2018, 05:51 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(jenern84 @ Apr 15 2018, 05:43 PM) Do we deposit rm6000 once or rm6000 every year in order to enjoy the rm6000 tax relief? Tabungan bersih.Every year fresh fund of RM 6K |
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Apr 15 2018, 05:55 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(airtawarian @ Apr 15 2018, 05:25 PM) Guys I still confuse whether tax relief of RM 6k or 12k applicable for individual who still single and Not yet marry? yes,,....if he/she falls under one of this category http://www.ptptn.gov.my/web/english-tutup/...lief-assessment |
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Apr 15 2018, 08:18 PM
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Senior Member
1,251 posts Joined: Jan 2012
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QUOTE(MUM @ Apr 15 2018, 05:55 PM) yes,,.... Still dont understandif he/she falls under one of this category http://www.ptptn.gov.my/web/english-tutup/...lief-assessment |
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Apr 15 2018, 08:31 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(MUM @ Apr 15 2018, 05:55 PM) yes,,.... if he/she falls under one of this category http://www.ptptn.gov.my/web/english-tutup/...lief-assessment QUOTE(airtawarian @ Apr 15 2018, 08:18 PM) Still dont understand Please don't post and ask the same thing over and over.You have similar question and reply at the Income Tax thread. |
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Apr 15 2018, 08:33 PM
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Senior Member
1,251 posts Joined: Jan 2012
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QUOTE(David83 @ Apr 15 2018, 08:31 PM) Please don't post and ask the same thing over and over. Noted bossYou have similar question and reply at the Income Tax thread. |
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Jun 10 2018, 11:24 AM
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Newbie
2 posts Joined: Jul 2009
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SSPN Simpanan RM500 PERCUMA RM500 still valid until end of this year after changed of gov?
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Jun 10 2018, 12:31 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(kwitt @ Jun 10 2018, 11:24 AM) SSPN Simpanan RM500 PERCUMA RM500 still valid until end of this year after changed of gov? there was an allocated budget for it....if the budget had been fully utilised.....then.... |
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Jun 10 2018, 12:36 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(MUM @ Jun 10 2018, 12:31 PM) there was an allocated budget for it.... Confirmed allocated?if the budget had been fully utilised.....then.... The Raya bonus also not allocated in the original 2018 Budget: https://www.malaysiakini.com/news/429021 This post has been edited by David83: Jun 10 2018, 12:37 PM |
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Jun 10 2018, 12:45 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(David83 @ Jun 10 2018, 12:36 PM) Confirmed allocated? some already confirmed that they already got it....The Raya bonus also not allocated in the original 2018 Budget: https://www.malaysiakini.com/news/429021 https://forum.lowyat.net/topic/1819492/+1140 |
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Jun 10 2018, 12:46 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(MUM @ Jun 10 2018, 12:45 PM) The previous admin is like playing balance transfer only.Whatever promise made but not allocated will be getting via Supplementary Budget Bill! This post has been edited by David83: Jun 10 2018, 12:47 PM |
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Jun 10 2018, 12:50 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(David83 @ Jun 10 2018, 12:46 PM) The previous admin is like playing balance transfer only. what ever it is...Whatever promise made but not allocated will be getting via Supplementary Budget Bill! those that took the early opportunity already got it... early birds catches the worms. |
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Jun 10 2018, 04:17 PM
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Junior Member
107 posts Joined: Nov 2013
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QUOTE(MUM @ Jun 10 2018, 12:50 PM) what ever it is... Maybe new gomen will gv better incentivethose that took the early opportunity already got it... early birds catches the worms. |
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Jun 10 2018, 08:50 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(Ktkloong @ Jun 10 2018, 04:17 PM) Maybe new gomen will gv better incentive How to give when debt is at RM 1 trillion! |
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Jun 11 2018, 05:31 PM
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Junior Member
84 posts Joined: Jun 2017
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hi guys..
Just a question... I still owed PTPTN money, and paying via direct-debit monthly. Am I eligible to save money in SSPN-i? TQ |
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Jun 11 2018, 06:52 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(yageosamsung @ Jun 11 2018, 05:31 PM) hi guys.. SSPN-i is for your children. Just a question... I still owed PTPTN money, and paying via direct-debit monthly. Am I eligible to save money in SSPN-i? TQ Why you need it? |
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Jul 8 2018, 11:19 AM
Show posts by this member only | IPv6 | Post
#266
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Junior Member
301 posts Joined: Jan 2011
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Can I put money inside SSPN to reduce tax if I dont have kids?
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Jul 8 2018, 11:36 AM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(Penang_J @ Jul 8 2018, 11:19 AM) Can I put money inside SSPN to reduce tax if I dont have kids? while waiting for responses,...you can try to read this....https://www.ptptn.gov.my/pelepasan-taksiran...kai-sspn-i-side hope you can get some info from there to help with your query This post has been edited by MUM: Aug 12 2018, 07:54 PM |
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Jul 8 2018, 10:36 PM
Show posts by this member only | IPv6 | Post
#268
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Junior Member
301 posts Joined: Jan 2011
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QUOTE(MUM @ Jul 8 2018, 11:36 AM) while waiting for responses,...you can try to read this.... Sad, got money to contribute but cannot claim tax.https://www.ptptn.gov.my/pelepasan-taksiran...kai-sspnmi-side hope you can get some info from there to help with your query |
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Jul 8 2018, 11:27 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(Penang_J @ Jul 8 2018, 10:36 PM) Sad, got money to contribute but cannot claim tax. have you taken up the PRS tax relief?more info about tax reliefs in here http://malaysiandigest.com/features/660161...s-for-2017.html |
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Jul 9 2018, 11:08 AM
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Junior Member
301 posts Joined: Jan 2011
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QUOTE(MUM @ Jul 8 2018, 11:27 PM) have you taken up the PRS tax relief? Yea yea, Affin Hwang since last yearmore info about tax reliefs in here http://malaysiandigest.com/features/660161...s-for-2017.html |
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Aug 9 2018, 06:01 PM
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Senior Member
663 posts Joined: Oct 2008
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SSPN-i is a con job.
Anything under Takaful insurance has zero cash value. Worst buying Berlian, RM500 monthly investment left RM200. RM6000 investment left RM2400 by year end. PTPTN memang boleh! Menang tanpa bertanding!! Beware getting con by the old gomen!  This post has been edited by Bobby C: Aug 9 2018, 06:02 PM |
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Aug 9 2018, 07:57 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(Bobby C @ Aug 9 2018, 06:01 PM) SSPN-i is a con job. Next time, read first then only buy.Anything under Takaful insurance has zero cash value. Worst buying Berlian, RM500 monthly investment left RM200. RM6000 investment left RM2400 by year end. PTPTN memang boleh! Menang tanpa bertanding!! Beware getting con by the old gomen! SSPN-i Plus is an insurance plan that comes with savings. SSPN-i is a saving account. See the difference? |
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Aug 12 2018, 05:58 PM
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Senior Member
1,131 posts Joined: Jun 2015
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QUOTE(Bobby C @ Aug 9 2018, 06:01 PM) SSPN-i is a con job. Bobby can explain further? Anything under Takaful insurance has zero cash value. Worst buying Berlian, RM500 monthly investment left RM200. RM6000 investment left RM2400 by year end. PTPTN memang boleh! Menang tanpa bertanding!! Beware getting con by the old gomen! Are you buying Takaful investment or insurance? There's 2 different things you ask right there. |
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Aug 12 2018, 06:00 PM
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Senior Member
1,131 posts Joined: Jun 2015
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Anyone can sharing their SSPN-i insurance thing? Any claim be done so far with no hassle?
1. After PH took the government, are SSPN thing still eligible to apply? 2. Any review after a year or 2years saving?what's is your encounted main issue? This post has been edited by submergedx: Aug 12 2018, 06:07 PM |
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Aug 12 2018, 07:18 PM
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Senior Member
1,131 posts Joined: Jun 2015
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QUOTE(MUM @ Jul 8 2018, 11:36 AM) while waiting for responses,...you can try to read this.... Page not found alreadyhttps://www.ptptn.gov.my/pelepasan-taksiran...kai-sspnmi-side hope you can get some info from there to help with your query |
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Aug 12 2018, 07:55 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(submergedx @ Aug 12 2018, 07:18 PM) Page not found already try this?https://www.ptptn.gov.my/pelepasan-taksiran...kai-sspn-i-side |
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Aug 12 2018, 08:00 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(submergedx @ Aug 12 2018, 06:00 PM) Anyone can sharing their SSPN-i insurance thing? Any claim be done so far with no hassle? Pembukaan Akaun SSPN-i1. After PH took the government, are SSPN thing still eligible to apply? 2. Any review after a year or 2years saving?what's is your encounted main issue? https://www.ptptn.gov.my/pembukaan-akaun-sspn-i-side Pembukaan Akaun SSPN-i Plus https://www.ptptn.gov.my/pembukaan-akaun-sspn-i-plus-side |
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Aug 12 2018, 10:37 PM
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Senior Member
1,131 posts Joined: Jun 2015
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QUOTE(MUM @ Aug 12 2018, 08:00 PM) Pembukaan Akaun SSPN-i Hi MUM, Thanks for the link. Can share what's your review for SSPN? Whoever applied for the scheme got cash aid from Government?https://www.ptptn.gov.my/pembukaan-akaun-sspn-i-side Pembukaan Akaun SSPN-i Plus https://www.ptptn.gov.my/pembukaan-akaun-sspn-i-plus-side |
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Aug 12 2018, 10:54 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(submergedx @ Aug 12 2018, 10:37 PM) Hi MUM, Thanks for the link. Can share what's your review for SSPN? Whoever applied for the scheme got cash aid from Government? most of what I read from here are they bought in for the tax relief benefits....what cash aid from govt? do you mean the GS500? if yes,...some forummers had posted that they already got it many months back.... not sure if the allocated budget for this incentive had been depleted or not.... my wild guess is they are. This post has been edited by MUM: Aug 12 2018, 11:05 PM |
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Aug 12 2018, 11:03 PM
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Senior Member
1,131 posts Joined: Jun 2015
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QUOTE(MUM @ Aug 12 2018, 10:54 PM) most of what I read from here are they bought in for the tax relief benefits.... what cash aid from govt?  When you deposit RM500, govern will deposit RM500 to your kid account aged 7-12 only. |
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Aug 12 2018, 11:05 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(submergedx @ Aug 12 2018, 11:03 PM) When you deposit RM500, govern will deposit RM500 to your kid account aged 7-12 only. |
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Nov 15 2018, 03:09 PM
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Junior Member
359 posts Joined: Dec 2012
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Dear all Based on table attached, If i sunbscribe SSPN-I Plus Berlian package, i will contribute RM500 every mth, with RM200 to SSPN-i savings and RM300 to Takaful insurance. I will benefit from the insurance as a result of it. My question is if everything is fine, this means the RM300 contribution is burnt? Is there some return from the RM300 or its burnt? My other question is SSPN-I also have death and TPD insurance benefit to the depositor rite? Thank you Attached thumbnail(s) 
drbone liked this post
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Nov 15 2018, 03:51 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak
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QUOTE(turbopips @ Nov 15 2018, 03:09 PM) Dear all The RM300 is the cost of insurance, the return you get it's the insurance coverage.Based on table attached, If i sunbscribe SSPN-I Plus Berlian package, i will contribute RM500 every mth, with RM200 to SSPN-i savings and RM300 to Takaful insurance. I will benefit from the insurance as a result of it. My question is if everything is fine, this means the RM300 contribution is burnt? Is there some return from the RM300 or its burnt? My other question is SSPN-I also have death and TPD insurance benefit to the depositor rite? Thank you For sspn-i, you can refer https://www.ptptn.gov.my/perlindungan-takaful-sspn-i-side |
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Dec 10 2018, 04:22 PM
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Junior Member
142 posts Joined: Jun 2008
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-deleted-
This post has been edited by vondeland: Dec 10 2018, 05:04 PM |
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Dec 17 2018, 08:49 AM
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Senior Member
954 posts Joined: Dec 2006
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QUOTE(turbopips @ Nov 15 2018, 03:09 PM) Dear all It's gone. It's like a term-life plan.Based on table attached, If i sunbscribe SSPN-I Plus Berlian package, i will contribute RM500 every mth, with RM200 to SSPN-i savings and RM300 to Takaful insurance. I will benefit from the insurance as a result of it. My question is if everything is fine, this means the RM300 contribution is burnt? Is there some return from the RM300 or its burnt? My other question is SSPN-I also have death and TPD insurance benefit to the depositor rite? Thank you By the way, did you subscribe to this? New tax relief separates out EPF and life insurance portions, so it might make sense to get this if you don't have a life insurance already. |
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Dec 18 2018, 12:46 PM
Show posts by this member only | IPv6 | Post
#286
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Senior Member
992 posts Joined: Jun 2012
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Feb 23 2019, 07:26 PM
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Junior Member
187 posts Joined: Jun 2011
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I got email saying I won saguhati 200.
Hope it's real. Anyone else got this email? |
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Feb 23 2019, 08:16 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(soonming @ Feb 23 2019, 07:26 PM) I got email saying I won saguhati 200. Sender email address?Hope it's real. Anyone else got this email? |
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Feb 23 2019, 08:21 PM
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Junior Member
187 posts Joined: Jun 2011
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QUOTE(David83 @ Feb 23 2019, 08:16 PM) Sender email address? noreply@mx5.ptptn.gov.mySome cabutan bertuah wow |
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Feb 23 2019, 08:25 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(soonming @ Feb 23 2019, 08:21 PM) noreply@mx5.ptptn.gov.my noreply@mx5.ptptn.gov.mySome cabutan bertuah wow This section sounds very fishy. |
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Feb 27 2019, 08:10 AM
Show posts by this member only | IPv6 | Post
#291
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Junior Member
147 posts Joined: Feb 2014
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Hi..guys.. sspn recently sms regarding "loyalty dividend of 0.5% " if deposit rm500 b4 april 31.. my question is
1) the 0.5% is paying for the 2019 rm500 new deposit only / Or 0.5% calculated upon rm500 + all saving amount in my sspn account deposited over years? 2) i see my sspn yearly dividen is about slight over 3% only over these couple years |
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Feb 27 2019, 08:16 AM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(kenzotaj @ Feb 27 2019, 08:10 AM) Hi..guys.. sspn recently sms regarding "loyalty dividend of 0.5% " if deposit rm500 b4 april 31.. my question is 1) 1) the 0.5% is paying for the 2019 rm500 new deposit only / Or 0.5% calculated upon rm500 + all saving amount in my sspn account deposited over years? 2) i see my sspn yearly dividen is about slight over 3% only over these couple years Soalan : Berapakah nilai Ganjaran Kesetiaan SSPN-i yang ditawarkan di dalam kempen ini? Jawapan : Kadar Ganjaran Kesetiaan SSPN-i adalah sebanyak 0.5% atas simpanan yang dibuat dalam tempoh kempen. Kadar ini merupakan kadar tambahan ke atas kadar dividen tahunan yang diberikan oleh PTPTN. URL for FAQ: https://www.ptptn.gov.my/images/fail/promos...tiaan_sspni.pdf |
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Feb 27 2019, 08:20 AM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(kenzotaj @ Feb 27 2019, 08:10 AM) Hi..guys.. sspn recently sms regarding "loyalty dividend of 0.5% " if deposit rm500 b4 april 31.. my question is 1) the 0.5% is paying for the 2019 rm500 new deposit only / Or 0.5% calculated upon rm500 + all saving amount in my sspn account deposited over years? read page 73, 74 or 75 https://forum.lowyat.net/topic/1819492/+1460 2) i see my sspn yearly dividen is about slight over 3% only over these couple years page 72, post 1428 https://forum.lowyat.net/topic/1819492/+1420 |
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Feb 27 2019, 10:27 AM
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Junior Member
283 posts Joined: Mar 2015
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QUOTE(David83 @ Feb 27 2019, 08:16 AM) 1) Hmmm... if take that money put into FD will yield higher interest compared to this 0.5%. Then later put into SSPN.Soalan : Berapakah nilai Ganjaran Kesetiaan SSPN-i yang ditawarkan di dalam kempen ini? Jawapan : Kadar Ganjaran Kesetiaan SSPN-i adalah sebanyak 0.5% atas simpanan yang dibuat dalam tempoh kempen. Kadar ini merupakan kadar tambahan ke atas kadar dividen tahunan yang diberikan oleh PTPTN. URL for FAQ: https://www.ptptn.gov.my/images/fail/promos...tiaan_sspni.pdf |
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Feb 27 2019, 11:35 AM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(vrek @ Feb 27 2019, 10:27 AM) Hmmm... if take that money put into FD will yield higher interest compared to this 0.5%. Then later put into SSPN. If one put money into sspn on the 1st Jan....next year 1st Jan will get how many %?If one put money into FD on 1st Jan...end 31 Dec withdraw n put into sspn....how many % gain? |
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Feb 27 2019, 11:50 AM
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Elite
5,608 posts Joined: May 2011 From: Here, There, Everywhere
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QUOTE(MUM @ Feb 27 2019, 11:35 AM) If one put money into sspn on the 1st Jan....next year 1st Jan will get how many %? lots of "interesting" financial logic posted by fellow forumers these days eh bro.. agar wood to weird FD % calc If one put money into FD on 1st Jan...end 31 Dec withdraw n put into sspn....how many % gain? I salute your endurance in responding to these me, i just SSPN thus far is an ok tax relief & cash holding vehicle for me This post has been edited by wongmunkeong: Feb 27 2019, 01:58 PM |
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Feb 28 2019, 04:58 PM
Show posts by this member only | IPv6 | Post
#297
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Newbie
36 posts Joined: Jan 2019
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When I deposit $ to SSPN-i via PTPTN counter, will the deposit amount show up in its web immediately or need to wait for next working day?
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Mar 1 2019, 02:05 PM
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Junior Member
358 posts Joined: Dec 2007 
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QUOTE(tinyisland @ Feb 28 2019, 04:58 PM) When I deposit $ to SSPN-i via PTPTN counter, will the deposit amount show up in its web immediately or need to wait for next working day? yeah i have the same question. i just opened an account online and deposit RM20How do I check my latest statement? I try ptptn online it is still showing 2018 statement |
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Mar 1 2019, 02:21 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(attentional @ Mar 1 2019, 02:05 PM) yeah i have the same question. i just opened an account online and deposit RM20 Should be under maintenance for generating 2018 annual statement.How do I check my latest statement? I try ptptn online it is still showing 2018 statement |
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Mar 1 2019, 02:23 PM
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All Stars
21,962 posts Joined: Dec 2004 From: KL
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1. I saw previous posts saying if deposit end of the year and withdraw early of next year eligible for tax relief, is it still the same now?
2. Anywhere i can see previous years interest given out? 3. I saw above mentioned SSPN-i comes with insurance, is it a must? or any way NOT to get it? 4. Anywhere i can compare differences between SSPN vs SSPN-i (if still available) ? |
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Mar 1 2019, 02:43 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(WaCKy-Angel @ Mar 1 2019, 02:23 PM) 1. I saw previous posts saying if deposit end of the year and withdraw early of next year eligible for tax relief, is it still the same now? some FAQs...see post 1202, page 61? https://forum.lowyat.net/topic/1819492/+1200 2. Anywhere i can see previous years interest given out? Historical SSPN-i dividend payout rate is as below: http://voyager8.blogspot.com/2018/02/ptptn...d-for-sspn.html 3. I saw above mentioned SSPN-i comes with insurance, is it a must? or any way NOT to get it? see the differences.... https://financemalaysia.blogspot.com/2018/0...sspn-i-and.html 4. Anywhere i can compare differences between SSPN vs SSPN-i (if still available) ? cannot confirm, but looks like they added i (for internet) and obsolete the non i type Saya telah mempunyai akaun SSPN-i, adakah saya boleh membuka akaun SSPN-i Plus? Boleh. Pendeposit yang telah mempunyai akaun SSPN-i boleh membuka akaun SSPN-i Plus tanpa perlu menutup akaun SSPN-i. https://www.ptptn.gov.my/faq-simpanan-side/faq-sspn-i-plus This post has been edited by MUM: Mar 1 2019, 02:45 PM |
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Mar 1 2019, 03:12 PM
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All Stars
21,962 posts Joined: Dec 2004 From: KL
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QUOTE(MUM @ Mar 1 2019, 02:43 PM) some FAQs... Thx clear now.Saya telah mempunyai akaun SSPN-i, adakah saya boleh membuka akaun SSPN-i Plus? Boleh. Pendeposit yang telah mempunyai akaun SSPN-i boleh membuka akaun SSPN-i Plus tanpa perlu menutup akaun SSPN-i. https://www.ptptn.gov.my/faq-simpanan-side/faq-sspn-i-plus Few more questions.. 1. Saw earlier some said new account now can only make withdrawal after 1 or 3 years, and also limit 1 withdrawal per year, can confirm? https://www.ptptn.gov.my/pengeluaran-penutu...aun-sspn-i-side did not mentioned about it. 2. Tax relief up to 8K/year meaning how much do i need to deposit a year? Deposit 8K get 8K tax relief? https://www.ptptn.gov.my/pelepasan-taksiran...kai-sspn-i-side did not mentioned about it. |
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Mar 1 2019, 03:15 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(WaCKy-Angel @ Mar 1 2019, 03:12 PM) Thx clear now. You deposit 8k to reduce your taxable income by 8k. Few more questions.. 1. Saw earlier some said new account now can only make withdrawal after 1 or 3 years, and also limit 1 withdrawal per year, can confirm? https://www.ptptn.gov.my/pengeluaran-penutu...aun-sspn-i-side did not mentioned about it. 2. Tax relief up to 8K/year meaning how much do i need to deposit a year? Deposit 8K get 8K tax relief? https://www.ptptn.gov.my/pelepasan-taksiran...kai-sspn-i-side did not mentioned about it. How much tax is being saved depends on which tax bracket are you in. The tax relief is based on nett deposit of the assessment year. This post has been edited by David83: Mar 1 2019, 03:17 PM |
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Mar 1 2019, 03:23 PM
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All Stars
21,962 posts Joined: Dec 2004 From: KL
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QUOTE(David83 @ Mar 1 2019, 03:15 PM) You deposit 8k to reduce your taxable income by 8k. Can draft a simple example?How much tax is being saved depends on which tax bracket are you in. The tax relief is based on nett deposit of the assessment year. This tax relief should be file under which section? probably that will be clearer to me. |
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Mar 1 2019, 03:29 PM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(WaCKy-Angel @ Mar 1 2019, 03:23 PM) Can draft a simple example? Under PELEPASANThis tax relief should be file under which section? probably that will be clearer to me. Tabungan bersih dalam Skim Simpanan Pendidikan Nasional Let's your taxable income is RM 100k, your tax rate is 21% and payable tax is RM 10,900 If you contribute RM 6k in 2018, your taxable income is reduced to RM 94k, your taxable income becomes RM 9,640 Tax saving is RM 1,260 This post has been edited by David83: Mar 1 2019, 03:30 PM |
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Mar 2 2019, 09:20 PM
Show posts by this member only | IPv6 | Post
#306
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Newbie
36 posts Joined: Jan 2019
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I think right now SSPN is linked to Income Tax. It will auto-fill up the tax relief $ under SSPN column. No more manual fill in.
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Mar 5 2019, 09:56 AM
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Senior Member
8,259 posts Joined: Sep 2009
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Is there still tax exemption of 6K by deposit SSPN for 2019? Meaning claim income tax in 2020..
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Mar 5 2019, 09:59 AM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(Kaka23 @ Mar 5 2019, 09:56 AM) Is there still tax exemption of 6K by deposit SSPN for 2019? Meaning claim income tax in 2020.. From 2019, the Government has increased the tax relief amount for SSPN deposits by parents from RM6,000 to RM8,000 a year. This is an additional RM2,000 that you can get back from the Government to offset your annual income tax from previous years, making it an extremely lucrative savings plan (provided your annual income tax is high enough to claim the full amount!) https://ringgitplus.com/en/blog/Duit-The-Ea...Incentives.html |
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Mar 5 2019, 11:12 AM
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Senior Member
8,259 posts Joined: Sep 2009
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QUOTE(MUM @ Mar 5 2019, 09:59 AM) From 2019, the Government has increased the tax relief amount for SSPN deposits by parents from RM6,000 to RM8,000 a year. Thanks bro.. appreciate your informationThis is an additional RM2,000 that you can get back from the Government to offset your annual income tax from previous years, making it an extremely lucrative savings plan (provided your annual income tax is high enough to claim the full amount!) https://ringgitplus.com/en/blog/Duit-The-Ea...Incentives.html Need to start saving now! |
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Mar 5 2019, 03:33 PM
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All Stars
18,415 posts Joined: Oct 2010
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So PTPTN has already announced the dividend of SSPN-i for 2018 on 29Jan2019. Am I allowed to withdraw most of the SSPN-i including the dividend for my child's local college education and leave a couple of hundreds in the balance?
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Mar 5 2019, 03:40 PM
Show posts by this member only | IPv6 | Post
#311
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Junior Member
375 posts Joined: Mar 2018
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QUOTE(MGM @ Mar 5 2019, 03:33 PM) So PTPTN has already announced the dividend of SSPN-i for 2018 on 29Jan2019. Am I allowed to withdraw most of the SSPN-i including the dividend for my child's local college education and leave a couple of hundreds in the balance? Yes you can. You can also close off the account. |
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Mar 5 2019, 05:01 PM
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All Stars
18,415 posts Joined: Oct 2010
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QUOTE(ChessRook @ Mar 5 2019, 03:40 PM) Yes you can. You can also close off the account. Shouldnt I keep the account in case I need to get loan for Tertiary education? |
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Mar 5 2019, 05:35 PM
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Junior Member
375 posts Joined: Mar 2018
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QUOTE(MGM @ Mar 5 2019, 05:01 PM) Shouldnt I keep the account in case I need to get loan for Tertiary education? In this case, yes. I wrongly assume you don't need the loan. |
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Mar 5 2019, 09:42 PM
Show posts by this member only | IPv6 | Post
#314
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Junior Member
555 posts Joined: Aug 2013 From: Bolehland
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QUOTE(tinyisland @ Mar 2 2019, 09:20 PM) I think right now SSPN is linked to Income Tax. It will auto-fill up the tax relief $ under SSPN column. No more manual fill in. Yup. Same case here |
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Mar 5 2019, 09:44 PM
Show posts by this member only | IPv6 | Post
#315
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All Stars
52,874 posts Joined: Jan 2003
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That's a a good improvement as it saves the headache on how much deposits are really eligible for tax relief.
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Mar 5 2019, 09:45 PM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(ketupatlazat @ Mar 5 2019, 09:42 PM) Yup. Same case here thanks for confirming....the auto fill.so now I no need to print out a copy from SSPN and keep liao |
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Mar 5 2019, 09:46 PM
Show posts by this member only | IPv6 | Post
#317
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(yklooi @ Mar 5 2019, 09:45 PM) thanks for confirming....the auto fill. From book-keeping wise, you still need to do it.so now I no need to print out a copy from SSPN and keep liao Since it just started this year, I doubt many of their staffs (especially the auditors) are aware of it. This post has been edited by David83: Mar 5 2019, 09:50 PM |
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Mar 6 2019, 03:41 PM
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Junior Member
358 posts Joined: Dec 2007
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QUOTE(ketupatlazat @ Mar 5 2019, 09:42 PM) Yup. Same case here Is the amount adjustable by you or locked by the system?This post has been edited by attentional: Mar 6 2019, 03:42 PM |
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Mar 11 2019, 11:57 AM
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Junior Member
358 posts Joined: Dec 2007
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Quick question on the RM8k tax relief for 2019. If I deposit RM8k end of Dec 2019 also entitle for tax relief right? Reason is I am still earning FD interest of 4.38% if I don't deposit now.
This post has been edited by attentional: Mar 11 2019, 11:57 AM |
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Mar 11 2019, 12:06 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(attentional @ Mar 11 2019, 11:57 AM) Quick question on the RM8k tax relief for 2019. If I deposit RM8k end of Dec 2019 also entitle for tax relief right? Reason is I am still earning FD interest of 4.38% if I don't deposit now. Yes.....by Dec 2019...But yr tis 4.38% is pa right....thus if you put in now...hv to wait till Mar 2020 to get full 4.38%...right? |
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Mar 11 2019, 12:50 PM
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Junior Member
358 posts Joined: Dec 2007
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QUOTE(MUM @ Mar 11 2019, 12:06 PM) Yes.....by Dec 2019... My excess funds are always in FD. The interest I'm getting now is 4.38% pa renewed annually. That's why I don't want to withdraw my FD to dump into SSPN first. I'll wait till end of Dec to do it. I'm sure SSPN has interest too but I'm not too sure how it is calculated.But yr tis 4.38% is pa right....thus if you put in now...hv to wait till Mar 2020 to get full 4.38%...right? This post has been edited by attentional: Mar 11 2019, 12:50 PM |
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Mar 16 2019, 12:17 AM
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Junior Member
200 posts Joined: Jul 2007
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QUOTE(tinyisland @ Mar 2 2019, 09:20 PM) I think right now SSPN is linked to Income Tax. It will auto-fill up the tax relief $ under SSPN column. No more manual fill in. As I know from you guys, the SSPN deposit will be auto filled under tax relief. My question is how do I get SSPN statement for year 2018? This is for my own reference for safe-keeping.This post has been edited by simonmada: Mar 16 2019, 12:21 AM |
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Mar 16 2019, 01:12 AM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(simonmada @ Mar 16 2019, 12:17 AM) As I know from you guys, the SSPN deposit will be auto filled under tax relief. My question is how do I get SSPN statement for year 2018? This is for my own reference for safe-keeping. Google sspn statement.....Then goto to the site.... Register as a user Log into it to access your a/c to view or print tax relief statement |
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Mar 16 2019, 06:11 PM
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All Stars
11,954 posts Joined: May 2007
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Not sure why ppl still go with SSPN-i?
Does it insurance cost is lower compared with other insurance company? |
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Mar 17 2019, 12:55 AM
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Senior Member
3,094 posts Joined: Dec 2007
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QUOTE(MNet @ Mar 16 2019, 06:11 PM) Not sure why ppl still go with SSPN-i? SSPN-i doesn't have any insurance packaged along. That's SSPN-i Plus.Does it insurance cost is lower compared with other insurance company? If you have a kid, he / she needs to have a SSPN account to be eligible to apply for PTPTN in the future. Also, those with kid can deposit SSPN-i for them for tax relief purpose. |
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Mar 17 2019, 07:38 AM
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All Stars
11,954 posts Joined: May 2007
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What the diffrerent between sspn and sspn-i in term of benefit?
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Mar 17 2019, 11:45 AM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(MNet @ Mar 17 2019, 07:38 AM) What the diffrerent between sspn and sspn-i in term of benefit? SSPN no longer available right? |
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Mar 17 2019, 11:47 AM
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Senior Member
3,094 posts Joined: Dec 2007
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QUOTE(MNet @ Mar 17 2019, 07:38 AM) What the diffrerent between sspn and sspn-i in term of benefit? SSPN = SSPN-i |
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May 7 2019, 11:20 AM
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All Stars
10,783 posts Joined: Jan 2003
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hi, just deposit into SSPN-i via FPX.. when i login to E-SSPN-i to check Penyata it shows 0.00.. need to wait the next day to reflect?
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May 26 2019, 12:07 PM
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Junior Member
226 posts Joined: Feb 2013
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hye if im single and i just want to opeen sspn for tax relief is it possible ?
i dun need the sspn i plus |
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May 26 2019, 12:25 PM
Show posts by this member only | IPv6 | Post
#331
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(yahoo12345 @ May 26 2019, 12:07 PM) hye if im single and i just want to opeen sspn for tax relief is it possible ? Yes... If you are a legal guardian to someone else child.i dun need the sspn i plus Else.... No |
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May 26 2019, 12:45 PM
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Junior Member
226 posts Joined: Feb 2013
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QUOTE(MUM @ May 26 2019, 12:25 PM) Yes... If you are a legal guardian to someone else child. no im not a guardianElse.... No so that means i cant enjoy the sspn tax relief ? |
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May 26 2019, 12:59 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(yahoo12345 @ May 26 2019, 12:07 PM) hye if im single and i just want to opeen sspn for tax relief is it possible ? i dun need the sspn i plus QUOTE(yahoo12345 @ May 26 2019, 12:45 PM) no im not a guardian Individu yang menyimpan untuk diri sendiri tidak diberi pelepasan taksiran cukai.so that means i cant enjoy the sspn tax relief ? https://www.ptptn.gov.my/pelepasan-taksiran...kai-sspn-i-side |
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Jun 14 2019, 03:34 PM
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Junior Member
297 posts Joined: Apr 2010
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is there any option to withdraw sspn-i money using atm ?
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Jun 14 2019, 03:42 PM
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Senior Member
8,188 posts Joined: Apr 2013
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QUOTE(notok @ Jun 14 2019, 03:34 PM) is there any option to withdraw sspn-i money using atm ? try the SSPN thread....there was a very recent discussion about it... |
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Sep 7 2019, 08:10 AM
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Junior Member
402 posts Joined: Dec 2005
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if i pay my sspn-i plus Komitmen Bulanan in advance, will i get interest on the excess payment, anyone know?
lets say i pay 3 years in advance, will the advance payment yield any interest? |
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Sep 7 2019, 10:44 AM
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All Stars
11,954 posts Joined: May 2007
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Yes u will earn interest
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Sep 7 2019, 03:45 PM
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Junior Member
402 posts Joined: Dec 2005
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QUOTE(MNet @ Sep 7 2019, 10:44 AM) Yes u will earn interest thanks for your reply. how is the interest rate? follow the dividend rate of 4%? |
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Oct 18 2019, 04:02 PM
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Senior Member
1,103 posts Joined: Nov 2009
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QUOTE(MUM @ May 26 2019, 12:59 PM) Individu yang menyimpan untuk diri sendiri tidak diberi pelepasan taksiran cukai. If no anak sendiri then how ar ? Belum adahttps://www.ptptn.gov.my/pelepasan-taksiran...kai-sspn-i-side |
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Oct 18 2019, 04:28 PM
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All Stars
21,962 posts Joined: Dec 2004 From: KL
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QUOTE(Left4Dead2 @ Oct 18 2019, 04:02 PM) If no anak sendiri then how ar ? Belum ada make one or adopt one Takudan liked this post
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Oct 18 2019, 04:48 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(Left4Dead2 @ Oct 18 2019, 04:02 PM) If no anak sendiri then how ar ? Belum ada save the money else where and wait till you are eligible to contribute WaNaWe900 liked this post
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Nov 4 2019, 09:45 AM
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Senior Member
1,103 posts Joined: Nov 2009
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For those already open SSPN account, can withdraw through online or counter ? What is the procedure required ? Anybody withdraw before ?
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Dec 27 2019, 05:06 PM
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Junior Member
254 posts Joined: May 2014 From: Selangor
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hey guys, I wanted to know too if whether can withdraw from SSPN and the procedure and conditions?
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Dec 27 2019, 05:13 PM
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Junior Member
254 posts Joined: May 2014 From: Selangor
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Withdrawing Your Money Unfortunately, withdrawing money from your SSPN account is not a simple task! Unlike normal savings accounts, SSPN has very strict rules when it comes to withdrawing your money. Depositors can only withdraw their money once a year, and the maximum amount that is allowed to be taken out is only RM500 or 10% of your total savings. alright, I found the answer from google and they required lots of gov doc to withdraw which I found in their sspn website... happy new year. WaNaWe900 liked this post
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Dec 27 2019, 05:20 PM
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(Left4Dead2 @ Nov 4 2019, 09:45 AM) For those already open SSPN account, can withdraw through online or counter ? What is the procedure required ? Anybody withdraw before ? QUOTE(BlurGuy1992 @ Dec 27 2019, 05:06 PM) hey guys, I wanted to know too if whether can withdraw from SSPN and the procedure and conditions? QUOTE(BlurGuy1992 @ Dec 27 2019, 05:13 PM) Withdrawing Your Money try page 115, post 2294Unfortunately, withdrawing money from your SSPN account is not a simple task! Unlike normal savings accounts, SSPN has very strict rules when it comes to withdrawing your money. Depositors can only withdraw their money once a year, and the maximum amount that is allowed to be taken out is only RM500 or 10% of your total savings. alright, I found the answer from google and they required lots of gov doc to withdraw which I found in their sspn website... happy new year. post 2297 lagi easy.... SSPN, Skim Simpanan Pendidikan Nasional https://forum.lowyat.net/topic/1819492/+2280 This post has been edited by MUM: Dec 27 2019, 05:22 PM |
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Nov 2 2020, 01:59 PM
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Probation
7 posts Joined: Oct 2020
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Anyone know if I want change my SSPN-i to SSPN-i plus can? or i need to register new sspn-i-plus online?
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Nov 23 2020, 11:38 AM
Show posts by this member only | IPv6 | Post
#347
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Probation
4 posts Joined: Nov 2020 From: Malaysia
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QUOTE(Capitar25 @ Nov 2 2020, 01:59 PM) Anyone know if I want change my SSPN-i to SSPN-i plus can? or i need to register new sspn-i-plus online? Hi. Yes can change easily from SSPN-i to SSPN-iplus. |
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Nov 23 2020, 11:40 AM
Show posts by this member only | IPv6 | Post
#348
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Probation
4 posts Joined: Nov 2020 From: Malaysia
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QUOTE(MUM @ Dec 27 2019, 05:20 PM) try page 115, post 2294 Hi, you can do withdrawal of ur SSPN money now via online or walk in to any our office. Minimum RM20 is required to be kept in the account for activation purposes and the rest you can do withdrawal.post 2297 lagi easy.... SSPN, Skim Simpanan Pendidikan Nasional https://forum.lowyat.net/topic/1819492/+2280 |
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Nov 23 2020, 11:41 AM
Show posts by this member only | IPv6 | Post
#349
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Probation
4 posts Joined: Nov 2020 From: Malaysia
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QUOTE(simonmada @ Mar 16 2019, 12:17 AM) As I know from you guys, the SSPN deposit will be auto filled under tax relief. My question is how do I get SSPN statement for year 2018? This is for my own reference for safe-keeping. Hi for statement, please do contact me, I can email or WhatsApp to you. Thankyou 😀 |
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Nov 23 2020, 09:58 PM
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Probation
7 posts Joined: Oct 2020
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QUOTE(Nitha_STAFF SSPN @ Nov 23 2020, 11:38 AM) Hi. Yes can change easily from SSPN-i to SSPN-iplus. Thanks NithaI just bank in SSPN-i using boost, may i know where can i view the latest update of my account to ensure its credited? |
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Dec 21 2020, 02:35 PM
Show posts by this member only | IPv6 | Post
#351
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Probation
4 posts Joined: Nov 2020 From: Malaysia
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QUOTE(Capitar25 @ Nov 23 2020, 09:58 PM) Thanks Nitha Hi Sir/Madam,I just bank in SSPN-i using boost, may i know where can i view the latest update of my account to ensure its credited? Please WhatsApp me will give you the full details. http://wasap.my/60143122195DepositSSPN |
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Jan 4 2021, 07:18 PM
Show posts by this member only | IPv6 | Post
#352
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Senior Member
1,210 posts Joined: Jun 2005 From: penang
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i have a sspn-i online account since my university day
can i still put money in and earn the interest rate? |
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Jan 5 2021, 08:49 AM
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All Stars
12,387 posts Joined: Feb 2020
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QUOTE(ahbenchai @ Jan 4 2021, 07:18 PM) i have a sspn-i online account since my university day Should be fine as long as the account is still active.can i still put money in and earn the interest rate? |
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Jan 5 2021, 10:50 AM
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Junior Member
671 posts Joined: Dec 2011
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QUOTE(BlurGuy1992 @ Dec 27 2019, 05:13 PM) Withdrawing Your Money no lah. withdraw is straight forward. Just visit the branch or do it online. u will get yr money in next few days.Unfortunately, withdrawing money from your SSPN account is not a simple task! Unlike normal savings accounts, SSPN has very strict rules when it comes to withdrawing your money. Depositors can only withdraw their money once a year, and the maximum amount that is allowed to be taken out is only RM500 or 10% of your total savings. alright, I found the answer from google and they required lots of gov doc to withdraw which I found in their sspn website... happy new year. thk |
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Jan 5 2021, 10:05 PM
Show posts by this member only | IPv6 | Post
#355
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Senior Member
8,259 posts Joined: Sep 2009
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got news when they will announce the dividend?
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Jan 6 2021, 09:07 AM
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Junior Member
671 posts Joined: Dec 2011
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QUOTE(Nitha_STAFF SSPN @ Nov 23 2020, 11:40 AM) Hi, you can do withdrawal of ur SSPN money now via online or walk in to any our office. Minimum RM20 is required to be kept in the account for activation purposes and the rest you can do withdrawal. @Nitha_STAFF SSPN do u know when will b SSPN-i allowed to withdraw?Now is frozen for year end closed. Thks |
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Feb 18 2021, 05:12 PM
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Junior Member
40 posts Joined: Jan 2005 From: Kepong
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still no news on dividend
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Feb 20 2021, 10:32 AM
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Junior Member
490 posts Joined: Jan 2006 From: Kuala Lumpur
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QUOTE(ylihao @ Feb 18 2021, 05:12 PM) still no news on dividend This is not acceptable. Holding back so long.  |
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May 25 2021, 03:32 PM
Show posts by this member only | IPv6 | Post
#359
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Senior Member
1,485 posts Joined: Dec 2005
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QUOTE(Nitha_STAFF SSPN @ Nov 23 2020, 11:40 AM) Hi, you can do withdrawal of ur SSPN money now via online or walk in to any our office. Minimum RM20 is required to be kept in the account for activation purposes and the rest you can do withdrawal. hi, i believe i can withdraw all the fund deposited with SSPN before year 2020 and only maintain the RM20 to to be kept in the account for activation purposes however, will it affected my 2020 tax relief from LHDN i.e. RM8k deposited on dec of 2020? Thanks |
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May 25 2021, 03:44 PM
Show posts by this member only | IPv6 | Post
#360
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(asiatrader98 @ May 25 2021, 03:32 PM) hi, i believe i can withdraw all the fund deposited with SSPN before year 2020 and only maintain the RM20 to to be kept in the account for activation purposes if i am not mistaken,...however, will it affected my 2020 tax relief from LHDN i.e. RM8k deposited on dec of 2020? Thanks if you had withdrawn all in 2019, you will not be get tax relief for year 2019 then you deposited RM8k in Dec 2020, you will get tax relief of RM8k for year 2020 to be declared during tax submission in April 2021 |
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May 25 2021, 03:52 PM
Show posts by this member only | IPv6 | Post
#361
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Senior Member
1,485 posts Joined: Dec 2005
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QUOTE(MUM @ May 25 2021, 03:44 PM) if i am not mistaken,... thank MUMif you had withdrawn all in 2019, you will not be get tax relief for year 2019 then you deposited RM8k in Dec 2020, you will get tax relief of RM8k for year 2020 to be declared during tax submission in April 2021 I am not keen to deposit any amount for claim tax relief in Y2021 but just worry if I withdraw all (but to maintain RM20 later for applying the PPTN) now i.e.Y2021 May, will it affect my claim tax relief RM8k deposited on Y2020 |
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May 25 2021, 03:57 PM
Show posts by this member only | IPv6 | Post
#362
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(asiatrader98 @ May 25 2021, 03:52 PM) thank MUM your claim for tax relief for money deposited in year 2020 should have been done in April 2021,....(under BE)I am not keen to deposit any amount for claim tax relief in Y2021 but just worry if I withdraw all (but to maintain RM20 later for applying the PPTN) now i.e.Y2021 May, will it affect my claim tax relief RM8k deposited on Y2020 IF in May 2021 if you withdraw ALL (bal 20) out,....then there should be NO tax relief claim for year 2021....cannot submit tax relief claim in April 2022 This post has been edited by MUM: May 25 2021, 03:58 PM |
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May 25 2021, 04:04 PM
Show posts by this member only | IPv6 | Post
#363
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Senior Member
1,485 posts Joined: Dec 2005
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QUOTE(MUM @ May 25 2021, 03:57 PM) your claim for tax relief for money deposited in year 2020 should have been done in April 2021,....(under BE) thank you MUM, I got the pointIF in May 2021 if you withdraw ALL (bal 20) out,....then there should be NO tax relief claim for year 2021....cannot submit tax relief claim in April 2022 so withdraw all (bal RM20) will not affected my tax relief (under B) to this account on Y2020 no issue for no tax relief claim for this account on Y2021 because I will deposit RM8k to another account for tax relief claim, I have 3 kids  This post has been edited by asiatrader98: May 25 2021, 04:06 PM |
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May 25 2021, 04:09 PM
Show posts by this member only | IPv6 | Post
#364
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(asiatrader98 @ May 25 2021, 04:04 PM) thank you MUM, I got the point if this 3 kids SSPN a/c are linked to your a/c....then any withdraw of any 1 of them will affect your tax relief claimsso withdraw all (bal RM20) will not affected my tax relief (under B) to this account on Y2020 no issue for no tax relief claim for this account on Y2021 because I will deposit RM8k to another account for tax relief claim, I have 3 kids Your NRIC number are linked as depositor to them as Beneficiaries...all these will be reflected in your SSPN annual tax relief statement |
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Jun 14 2021, 05:21 PM
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Junior Member
189 posts Joined: Feb 2010
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Hi, may i know how to add another kid (beneficiary) under my name? Can I do it online?
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Jun 14 2021, 05:34 PM
Show posts by this member only | IPv6 | Post
#366
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All Stars
14,888 posts Joined: Mar 2015
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QUOTE(mygarage88 @ Jun 14 2021, 05:21 PM) Hi, may i know how to add another kid (beneficiary) under my name? Can I do it online? maybe as per this?PANDUAN PEMBUKAAN AKAUN SSPN-i https://www.lovesspnonline.com/caradaftarsspni.html hopefully it is applicable to your need |
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