The National Higher Education Fund Corporation (PTPTN) announced the dividend distribution for National Higher Education Savings Scheme (Simpan SSPN) for the year of 2021 and launched a Kempen Ganjaran Kesetiaan Simpan SSPN Prime 2022 today at Menara PTPTN, Kuala Lumpur.
SIMPAN SSPN 3 PERCENT DIVIDEND
The Chairman of PTPTN, Datuk Wan Saiful Wan Jan has announced the dividend distribution for Simpan SSPN to the depositors for 2021 is 3 percent. The Chairman of PTPTN and the Top Management of PTPTN, Encik Ahmad Dasuki Abdul Majid was also present at the event.
The dividend distribution of Simpan SSPN involves an estimated allocation of RM206.25 million which will benefit 5.24 million depositors of Simpan SSPN account. This makes the total dividend distribution amount to RM1.06 billion since Simpan SSPN was introduced. The given dividend rate to Simpan SSPN depositors is based on the net return of investments that have been made on deposits that have been received by PTPTN.
As said by Datuk Wan Saiful Wan Jan, The Chairman of PTPTN, “The dividend given is still competitive than the current accounts and fixed accounts revenue. It also takes into account that PTPTN’s permitted investment mandate is limited in the money market and sukuk market. Therefore, if you at the 3 percent rate compared to the overnight policy rate set by Bank Negara Malaysia at 1.75 percent and profit/ interest rate of savings products offered by local banks for the year 2021 between 1.50 percent and 2.20 percent, SSPN Savings products still offers and attractive rate of return.”
In addition to dividend, Simpan SSPN is also offering various benefits to depositors such as tax assessment relief of up to RM8,000 per year, takaful protection and free matching grants of up to RM10,000 for one eligible family. This means that Simpan SSPN depositors will enjoy double profits and not just a 3 percent dividend rate,” he added.
Wan Saiful also explained, “The granting of a dividend at 3 percent rate clearly shows that Simpan SSPN remains competitive compared to other savings products offered in the market. This also proves that Simpan SSPN is very relevant for savings by giving a competitive dividend rate even in an uncertain national economy. My hope is that with the 3 percent dividend and 1 percent Ganjaran Kesetiaan given, this can attract the interest of Malaysians to make Simpan SSPN the main choice for children’s education savings.”
With PTPTN’s effort and people’s support as well as Simpan SSPN depositors, the total deposit for Simpan SSPN for 2021 amounted to RM3.01 billion or 167.08 percent compared to the target of RM1.8 billion. This makes the total amount of Simpan SSPN deposits until 31 December 2021 to be RM10.88 billion. While the Simpan SSPN deposit investment profit for the year 2021 amounted to RM267.61 million.
As for Simpan SSPN's new account opening performance, a total of 421,281 accounts were successfully opened in 2021 compared to the annual target of 400,000 accounts. This achievement is 105.32 percent compared to the annual target. In total, up to 31 December 2021 a total of 5.24 million Simpan SSPN accounts have been opened since this savings instrument was introduced in 2004.
Simpan SSPN depositors can check the dividend on their respective savings statements through the official portal www.ptptn.gov.my from 25 February 2022 (Friday).
GANJARAN KESETIAAN SIMPAN SSPN PRIME 1 PERCENT
In the same event, PTPTN also launched the Kempen Ganjaran Kesetiaan Simpan SSPN Prime 2022 at a rate of 1 percent. This loyalty reward is a special gift and as a token of PTPTN's appreciation to depositors who make long-term savings.
"This Ganjaran Kesetiaan will be enjoyed by Simpan SSPN Prime depositors who make accumulated savings during the promotional period with a minimum amount of RM500.00. The promotion period starts from 22 February 2022 to 30 April 2022 and is eligible to be joined by depositors who opened a Simpan SSPN Prime account in 2004 until 31 December 2018. The Ganjaran Kesetiaan that will be given is very worthwhile as an additional return in addition to the annual dividend. To eligible Simpan SSPN Prime depositors, grab this golden opportunity," said Datuk Wan Saiful.
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