The National Higher Education Fund Corporation (PTPTN) today (April 5) announced the dividend of the National Education Savings Scheme (SSPN) for 2022 of 3.05 percent.
Minister of Higher Education Datuk Seri Mohamed Khaled Nordin at the SSPN 2022 Savings Dividend Announcement Ceremony and SSPN Prime 2023 Simpan Loyalty Rewards Campaign Launch here today said the dividend award involves an estimated allocation of RM266.17 million which will benefit approximately 5.73 million Simpan account depositors SSPN.
“This 3.05 percent dividend is not only higher than the 3 percent dividend distribution in 2021.
“In fact, it is a competitive dividend rate because it is higher than the profit rate of savings in current accounts and fixed deposits in some banks that offer a profit interest rate between only 2.05 percent to 2.75 percent,” he said.
Mohamed Khaled said since its introduction in 2004, PTPTN has distributed total dividends worth RM1.33 billion.
As of Dec 31 last year, a total of 5.73 million SSPN Savings accounts had been opened, involving a deposit value of RM14.24 billion, he said.
Mohamed Khaled said last year, Simpan SSPN recorded a proud savings value even though the country was facing an uncertain economic environment.
“SSPN Savings Deposits received last year amounted to RM3.36 billion which is 119.93 percent higher than the initial target of RM2.8 billion.
This amount shows an increase of RM350.55 million compared to 2021 which recorded a savings value of RM3.01 billion,” he said.
In terms of opening new accounts, Mohamed Khaled said a total of 491,984 accounts were opened last year compared to the target of 400,000 accounts.
“All these achievements prove that the confidence and support of Simpan SSPN depositors remains intact and continuous,” he said.
He said the community’s encouraging response to Simpan SSPN is not surprising because the savings are supported with various privileges and benefits.
“In addition to being the only savings product that gives the privilege of exemption from income tax assessment on savings up to RM8,000 per year, Simpan SSPN is also equipped with takaful protection on depositors, Matching Grants up to RM10,000 for one eligible family, guaranteed savings government and sharia-compliant investment,” he said.
Mohamed Khaled at the event also launched the Simpan SSPN Prime Loyalty Reward Campaign 2023 at a rate of one percent as a special gift to Simpan SSPN Prime depositors who make long-term savings and as an additional reward in addition to the annual dividend.
He said the Loyalty Reward will be enjoyed by Simpan SSPN Prime depositors who make a minimum deposit of RM500 during the promotion period which is from 5 April to 31 July 2023 and are eligible to participate by depositors who opened a Simpan SSPN Prime account in 2004 to 31 Dec 2019.
“With the granting of a 3.05 percent dividend and a one percent Loyalty Reward, I hope these two incentives will continue to encourage and increase the confidence of Simpan SSPN depositors,” he said.
Meanwhile, PTPTN in its media statement informed that the dividend distribution will be directly deposited into the SSPN Savings account and depositors can check their respective savings statements online through the official portal www.ptptn.gov.my or the myPTPTN application from tomorrow.
