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

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

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

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

Maximise as in:
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

Clarification for the unclear - not worth it to me in/out/in/out SSPN.
For just plonk & forget - worthwhile for me at my tax bracket.

er.. look at my signature's 3rd link - SSPN.
I didn't say "not worth it" only - it can be better if one mixes it with equity investments.

Sorry - i don't want waste time on in/out/in/out all within a year or less.
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.

eh - like that i think better focus on EPF Ac1 --> investments & Ac2 --> monthly out, more oomph for "don't trust Gov with big % of $"
other than tax optimization your method with SSPN lar
just a thought

Tai loh, online can top up
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

bandar utama, between 1U & Tropicana

Will PM U - i worry may not be too right for his details plastered here by me

Dagnabit.. i didn't see that.
Thanks SmallPotato
<starts counting $5K+ into points or cash back =...>

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

"owner" of a/c = parent
beneficiary = 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?

I heard if withdraw the money, you will need to pay back all the tax deduction that you had, is that true?
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

hehe - happens to me too when blood caffeine's low. yup, i suffer from that, not low blood sugar

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

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)

Yup, 2 parents to 1 kid
coz 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

Yup, Maybank2U online payment

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

mine dah masuk in my gir's SSPN liao
now aiming for the petrol cards bwhaaha

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

no lar - i received the RM500 early in the year ma (Jan) then the added this info

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