PTPTN announces 4% dividend for SSPN-I, SSPN-I Plus

KUALA LUMPUR: The National Higher Education Fund (PTPTN) has announced a 4% dividend for the education savings scheme SSPN-i and SSPN-i Plus for 2016. 

Chairman Datuk Dr Shamsul Anuar Nasarah said the dividend involves an allocation of RM76.74 million which will be paid starting from this month.

"The dividend will benefit more than 2.7 million SSPN-i and SSPN-i Plus depositors," he told reporters after announcing the distribution in Kula Lumpur on Monday.

Shamsul Anuar said the 4% dividend for the SSPN-i and SSPN-i Plus in 2016 was based on net returns on investments of deposits received.

"Last year was challenging for all concerned, but the PTPTN has been still able to maintain the dividend for the SSPN-i and SSPN-i Plus as from the previous year," he added.

He said the level of savings for the SSPN-i/SSPN-i Plus rose 9.2% to RM544.49 million in 2016 compared to RM498.61 million previously.

"This shows there is an awareness to save for the purpose of higher education within the community," he added.

From its launch in 2004 to Dec 31, 2016, the number of SSPN-i accounts opened stood at 2.7 million with deposits amounting to more than RM2.6 billion. 

For the SSPN-i Plus launched on June 8, 2015, the number of accounts is at 52,615 with total deposits of RM15.8 million and takaful protection benefits of up to 2.3 billion recorded as of end-2016. 

For 2017, the PTPTN aims to collect RM550 million with an increase in the number of new accounts of 350,000 via campaigns throughout the country, said Shamsul Anuar. - Bernama