PTPTN Tax Relief and Dividend Performance..

Assalamualaikum w.b.t.,

Do you know how PTPTN saving scheme perform?

Year  /  Dividend%
2004        3
2005        4
2006        4
2007        4
2008        4
2009       2.5
2010       3.25
2011       3.75
2012       ???4 (I think so-- feeling goooodd!)

If you think you want to save and invest in this scheme, I don't suggest this platform since you can get better return on other platform. But if you want to catch the tax relief up to RM 6000.00, I think this is one relief given quite high. And it is only work fine for private sector  worker whose  tax is at higher level such 17% and above.

If we convert into so call investment benefit then, saving you can make equivalent to 17% (tax level) + 3.5% (PTPTN dividend on the coming end of years). If you think this is a good option you can save for your children education then grab it. I did for 4 of my children now total up to RM15K saving. Last year I only did for RM3000.00 and missed the information that the new capping should  RM6000.00.

PTPTN "Modus operandi" a bit confusing if refer to its withdrawal procedure. To withdraw you must apply and the refund process take 3 month,  and from latest information, you can withdraw all of your saving but if you want to apply an education loan you must maintain certain amount in your account for  RM20.00. Need to confirm about this info.

Information from PTPTN website:

Starting 1 January 2012, students who wish to apply for PTPTN education financing MUST have an SSPN-i account with a minimum deposit of RM20.00.

Tax relief for current year's net savings of up to RM6,000 per annum.

Free insurance coverage for depositors with savings of RM1,000 and above.

Savings as low as RM20 at any time and guaranteed by the government.

Depositors may make withdrawals at any time subject to the regulations set by PTPTN from time to time.
(what are the regulations?)

So actually how long do we have to keep our money in SSPN before we can withdraw?

Came across this http://www.ptptn.gov.my/docs/FAQ%20SSPN.pdf:

Depositors may make withdrawals at any time subject to the regulations set by PTPTN from time to time.

Conditions for Withdrawal / Closing of Account of the National Education Savings Scheme (SSPN-i) and Required Documents

Note: Please ensure that the depositor's signature is similar to the one on the SSPN-i Account Opening Form and Closing of Account Form / Deposit Withdrawal Slip / Matching Grant Claim.

Please click here to print the SSPN-i Depositor's (the deceased) Beneficiary Confirmation Form and click here to print the  Indemnity Bond Form.

Note: Details about SSPN-i savings must be listed or specified in the Letter of Administration or Grant of Probate to allow withdrawals from the SSPN-i account of the depositor (the deceased).
Should the depositor / beneficiary prefer that the amount from withdrawal / closing of account be credited directly into a bank account, please attach a copy of the front page of the savings account book / statement of account with the depositor's bank account number stated.


A.Savings Withdrawal


Documents to be enclosed are as follows:-

1. Deposit withdrawal slip / match grant claim;
2. Copy of depositor's MyKad / military card / police card; and
3. Copy of SSPN-i card.

B.Closing of Account

Documents to be enclosed are as follows:-
1. SSPN-i Account Closing Form;
2. Copy of depositor's MyKad / military card / police card;
3. Copy of SSPN-i card; and
4. Copy of death certificate (in the event of death of the beneficiary, if applicable)

Note: Copies of depositor's MyKad / military card / police card, SSPN-i card and death certificate (if applicable) must be certified by the relevant authorities.

Matching Grant Claim
Depositors must submit  supporting documents that have been certified for the purpose of matching grant claims as follows:-

C.  Letter of offer to pursue higher education; and fee payment slip to the institute or a letter confirming active student status at institute.



D.Closing of Account upon Death of SSPN-i Depositor

Documents required for closing the SSPN-i account in the event of death of the depositor are as follows:-
1. SSPN-i Account Closing Form;
2. Copy of depositor's MyKad / police card / military card;
3. Copy of beneficiary's MyKad / police card / military card;
4. SSPN-i card; and
5. Depositor's death certificate.


If the balance of the SSPN-i savings account is less than RM1,000, the beneficiary shall:-
1. Submit the Beneficiary to SSPN-i Depositor (the deceased) Confirmation Form which must be certified by the relevant authorities; and
2. Complete the Indemnity Bond Form provided by PTPTN with a revenue stamp of RM10.

For savings in the SSPN-i account totalling RM1,000 and above, the beneficiary must obtain a letter of administration or grant of probate by producing one of the following documents from any appointed body (the original and the copy certified by the party issuing the authorisation letter):-
1. Letter of administration / grant of probate (petition under the Probate and Administration Act 1959) issued by the High Court of Malaya; or
2. Letter of administration issued by the Land and District Office; or
3. Letter of administration issued by Amanah Raya Berhad Section 17 of the Public Trust Corporation Act 1995 (declaration / instruction).

Submission  of Withdrawal / Account Closure Slip

Completed forms can be submitted via the PTPTN service counter at the One-Stop Centre, KL Sentral or any PTPTN agents as follows:
1. Bank Simpanan Nasional;
2. CIMB Bank Berhad;
3. Agro Bank;
4. Bank Kerjasama Rakyat Malaysia Berhad;
5. Bank Islam Malaysia Berhad;and
6. Maybank.

Or

Mailed to PTPTN at the following address:-
National Education Fund Corporation (PTPTN)
Education Savings Department,
Level 6, Wisma Chase Perdana,
Off Jalan Semantan, Damansara Heights,
50490 KualaLumpur.
(Attn: Withdrawal and Claims Unit)
Tel:03-2080 4455Fax: 03-2098 6589