Competitive dividend: The announcement of Simpan SSPN 2021 dividend of 3% was made by Wan Saiful (right), alongside Ahmad Dasuki.

AS a sign of appreciation to depositors, the National Higher Education Fund Corporation (PTPTN) will give loyalty rewards and dividend payments.

Its chairman Datuk Wan Saiful Wan Jan said that the ‘Ganjaran Kesetiaan Simpan SSPN Prime 2022’ campaign at a rate of 1% is a part of PTPTN’s appreciation to depositors who make long-term savings.

“This campaign will be enjoyed by Simpan SSPN Prime depositors who make accumulated savings during the promotion period with a minimum amount of RM500.

“The promotion period runs from Feb 22 to April 30 and is meant for depositors who opened a Simpan SSPN Prime account between 2004 until Dec 31, 2018,” he said at the virtual announcement on Simpan SSPN dividends for 2021, which also saw the launch of ‘Ganjaran Kesetiaan Simpan SSPN Prime 2022’.

Also present at the event were PTPTN chief executive officer Ahmad Dasuki Abdul Majid.

He added that this campaign is also worthwhile as an additional return on top of the annual dividend.

Wan Saiful declared a dividend of 3% for the National Education Savings Scheme (Simpan SSPN) 2021.

New launch: The Simpan SSPN dividends for 2021 virtual announcement also saw Wan Saiful (right) and Ahmad Dasuki launch ‘Ganjaran Kesetiaan Simpan SSPN Prime 2022’.New launch: The Simpan SSPN dividends for 2021 virtual announcement also saw Wan Saiful (right) and Ahmad Dasuki launch ‘Ganjaran Kesetiaan Simpan SSPN Prime 2022’.

“The distribution of the Simpan SSPN dividend involves an estimated total allocation of RM206.25mil and would benefit 5.24 million PTPTN depositors.

“The dividend payout given to Simpan SSPN depositors is based on the net returns on investments made on deposits received by PTPTN,” he said, adding that the dividend given is still competitive compared to the current account profits and fixed deposits.

It also takes into account that PTPTN is only permitted to invest in limited markets and sukuk markets.

“The dividend payment of 3% shows that Simpan SSPN remains competitive. It also proves that Simpan SSPN is very relevant for savings with competitive dividends even in a volatile national economy.

“My hope is that with the 3% dividend and 1% loyalty reward given, it can attract the interest of the Malaysian community to make Simpan SSPN the main choice for children’s education savings,” he said.

Apart from dividends, Simpan SSPN also offers tax relief of up to RM8,000 a year, takaful coverage and matching grants for free up to RM10,000 for each eligible family.

He opines that along with PTPTN’s efforts and the support of the community as well as Simpan SSPN depositors, the total Simpan SSPN deposits for 2021 will amount to RM3.01bil.

“This brings the total Simpan SSPN deposits as at Dec 31, 2021 to RM10.88bil. Meanwhile, the investment profit of the Simpan SSPN deposit for the year 2021 is RM267.61mil.

“As for the performance of opening new Simpan SSPN accounts, a total of 421,281 accounts were successfully opened in 2021 compared to the annual target of 400,000 accounts,” he said.

He added that in total, as at Dec 31, 2021, a total of 5.24 million Simpan SSPN accounts have been opened since the introduction of this savings instrument in 2004.

Simpan SSPN depositors can check dividends on their savings statements through the official portal, www.ptptn.gov.my, from Feb 25, 2022 onwards.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Education

Renowned educationist Prof Dr Sidek Baba passes away
UTM young scientist bags award
Accountants are still in demand in this age of technology
Two Malaysian varsities claim spots in latest GEURS survey
Confucius Institute of UMS hopes to promote Chinese language teaching in Sabah schools
UTM urged to strive for greater heights as it celebrates 50th anniversary
Study: Young adults taking precautionary measures to cope with rising prices
ACS Ipoh scores fourth national record
Young changemakers to the fore
TAR UMT celebrates first convo with new status

Others Also Read