SSPN stands for Skim Simpanan Pendidikan National.
5 commons way to fund your child(ren) education.
Beside Tax Saving, for which some people don't care because of low tax bracket, there is ONE more reason you might want to consider to 'save' with SSPN - effective 2012, you can't borrow from PTPTN unless you have saving in PTPTN (under SSPN)
However, the new scheme has a surprise element - the 'takaful' element THAT you are 'forced' to buy insurance (in Bahasa, Sumbangan Takaful) which is relatively 'expensive' but it is still a good plan for those can't afford a conventional medical plan, or life insurance, yet want to provide a saving for their child(ren) education.
IF you don't wish to have the "takaful" element., stick to the SSPN-i (without the Plus)
SSPN-i Plus Plans
PAKEJ
|
INTAN
|
DELIMA
|
TOPAS
|
ZAMRUD
|
NILAM
|
BERLIAN*
|
Simpanan
SSPN-i |
RM20
|
RM40
|
RM90
|
RM180
|
RM270
|
RM200
|
Sumbangan Takaful
|
RM10
|
RM10
|
RM10
|
RM20
|
RM30
|
RM300
|
Jumlah
|
RM30
|
RM50
|
RM100
|
RM200
|
RM300
|
RM500
|
MANFAAT TAKAFUL
| ||||||
Kematian/Keilatan Kekal & Menyeluruh (Kemalangan)
|
RM40,000
|
RM40,000
|
RM40,000
|
RM80,000
|
RM120,000
|
RM1,000,000
|
Kematian/Keilatan Kekal & Menyeluruh (Biasa)
|
RM20,000
|
RM20,000
|
RM20,000
|
RM40,000
|
RM60,000
|
RM500,000
|
Keilatan Kekal & Sebahagian
(Biasa dan Kemalangan) |
Tiada
|
Tiada
|
Tiada
|
Tiada
|
Tiada
|
RM100,000
|
36 Penyakit Kritikal (Bayaran manfaat dipercepatkan)
|
RM10,000
|
RM10,000
|
RM10,000
|
RM20,000
|
RM30,000
|
RM100,000
|
Elaun Kemasukan Hospital/hari**
|
RM20
|
RM20
|
RM20
|
RM40
|
RM60
|
RM200
|
Khairat Kematian Pendeposit, Pasangan (yang pertama & sah sahaja) dan anak
|
RM2,500 (Pendeposit dan pasangan)
RM2,500
RM1,000 (setiap anak – maksimum 3 orang anak sahaja)
|
RM18,000
(pendeposit)
RM9,000
(pasangan)
RM2,000
(setiap anak – maksimum 3 orang anak) | ||||
Dividend
Based on my personal experience, the effective rate of return for past 10 years is merely ~3.75% p.a.Why save with PTPTN?
- Tax relief, which may be 28% for those having chargeable income of RM1,000,000 and above OR 21% for hose having chargeable income of RM70,000 and above, which is still substantial for first year of contribution.
Disadvantage of PTPTN saving (i.e. SSPN)??
- Low return (2007 to 2016, effectively only 3.75% p.a.)
- SSPN-i required contribution for insurance element, which you may not need (or aware...). The benefits is not provided to you FREE, you pay for it.
Tried to open an account for 2nd child but server down. You may try it here to open SSPN-i account online, save for Tax Relief before 31.12.2017.
To check SSPN account balance, click here.
Source:-
PTPTN Website
