On 1st July 2024, The National Higher Education Fund Corporation (PTPTN) in collaboration with the Selangor Zakat Board (LZS) introduced a new initiative to facilitate depositors in paying zakat on their Simpan SSPN accounts.
LZS plays a crucial role in the collection and distribution of zakat in the state of Selangor. Through this collaboration PTPTN not only provides a zakat calculation facility but also acts as a zakat payment channel ensuring that all eligible depositors can fulfill their zakat obligations more easily, quickly and securely through the myPTPTN web application.
What is Zakat Simpan SSPN?
Zakat Simpan SSPN is the zakat imposed on savings in Simpan SSPN Prime and Simpan SSPN Plus accounts. This zakat must be paid by Muslim depositors when their savings meet the haul (one-year period) and nisab (minimum savings amount) conditions. The current nisab is determined based on the value of 85 grams of gold.
What are the Conditions for Zakat Payment?
Every individual who wishes to pay zakat must consider the conditions that need to be understood and fulfilled before making an assessment. These conditions are as follows:
a) Islam – Zakat is mandated for owners of wealth who are Muslim. Non-Muslims are not obligated to pay zakat, and if they do, it is not considered valid because zakat is considered an act of worship;
b) Full Ownership – Complete Ownership means “A person’s legal ownership of assets throughout the haul (one-year period) and having full authority to manage and benefit from the assets without any legal restrictions or controls”;
c) Completion of Nisab – Nisab is the minimum threshold of ownership of wealth that obligates zakat on that wealth; and
d) Completion of Haul – Haul is the lunar (qomariah) year period of continuous ownership of zakatable wealth by an individual, excluding grains, fruits, minerals, and treasure.
How to Calculate Zakat?
The calculation of zakat for Simpan SSPN accounts follows a haul of 12 months from the account opening date.For depositors with more than one Simpan SSPN account, zakat must be paid even if only one account meets the haul condition. The balance in the account at the end of the haul, and the amount exceeding the nisab (value of 85 grams of gold), must be subject to zakat at a rate of 2.5%. PTPTN menyediakan platform dalam aplikasi web myPTPTN untuk membantu pendeposit mengira zakat yang perlu dibayar.
Steps for Paying Zakat Simpan SSPN
Depositors can make zakat payments through the myPTPTN web applicationThe platform provides facilities for zakat calculation (calculator), zakat payment, and review of zakat payment records.
The initiative to facilitate Zakat Simpan SSPN payments through the myPTPTN web application is a positive step in making it easier for depositors to fulfill their obligations as Muslims. It also demonstrates the commitment of PTPTN and LZS to providing efficient and user-friendly services.
By using this facility, we can ensure that zakat is directed to those in need and strengthen Islamic financial management in our country. Let's fulfill your zakat through Simpan SSPN and take advantage of the provided conveniences.
Read the User Guide for Zakat Simpan SSPN Payment.
Read the FAQs Zakat Simpan SSPN.
