Savings
 
Statement and Withdrawal

ACCOUNT STATEMENT

  • The account statement is prepared and posted to the address of the depositor twice annually
  • No savings book is given
  • All beneficiaries will be given SSPN membership cards
 
WITHDRAWAL

Withdrawal of savings can only be done after one (1) year of saving in the SSPN. The withdrawal of 10% of the balance in the account or RM500 (whichever is lower) once annually is allowed (after one year of becoming member). Withdrawal of up to 100% of the balance of the account is allowed if the beneficiaryfulfils one of the following criteria:
 

  • Is accepted to any government recognised IPT;
  • Withdraws voluntarily from the education system or is terminated for specific reasons;
  • Chronic illness with no hope of recovery with doctor’s certification;
  • Permanent disability; or
  • Death