Simpan SSPN Prime

Introduction of Simpan SSPN Prime

The National Education Savings Scheme (SSPN) also known as SSPN-i was first introduced in 2004. This long-term savings product aims to foster the habit of saving among parents for the purpose of their children's higher education when they are still young in addition to offering various special benefits such as giving dividends every year, income tax assessment relief, matching grants up to RM10,000, free takaful protection and death charity.

Now, after almost 17 years in the market, SSPN-i has found a place in the hearts of Malaysians who are beginning to realize the importance of saving for their children. In line with the launch of the new savings product, SSPN-i is now known as Simpan SSPN Prime which still maintains the various benefits and privileges offered before.

Total Opening of Simpan SSPN Prime Account

The total number of Simpan SSPN Prime accounts opened from 2004 until January 2022 is 4,524,048.

Buka akaun Simpan SSPN Prime anda hari ini dan berpeluang nikmati pelbagai keistimewaan menarik.

Savings Channel
Account Opening

Total Matching Grant

The amount of grants corresponding to RM10,000 that have been updated on the statement from 2005 until January 2022 for Simpan SSPN Prime account are 2,165.




Guaranteed By The Government

Sehingga RM 8,000

Percuma ke atas pendeposit yang mempunyai simpanan RM1,000 dan ke atas

Pinjaman PTPTN

Sehingga RM10,000 untuk keluarga yang layak



guaranteed by the government

free for depositors who have a deposit of RM1,000 and above


of up to RM10,000 for eligible families


up to RM 8,000*

*Note: Individual tax assessment relief until assessment year 2024

  1. To facilitate the withdrawal of PTPTN savings from Simpan SSPN Prime and/ or Simpan SSPN Plus in the event of the depositor's death;
  2. To allow PTPTN to release Simpan SSPN Prime and/ or Simpan SSPN Plus savings to the named individual(s) for administration (for Muslims) or receipt (for non-Muslims) without the need for a Grant of Probate/ Letter of Administration/ Order of Distribution;
  3. To save costs and time in the claims process.
  • Depositors may name individuals as soon as they open a PTPTN savings account.
  • The beneficiary can nominate anyone to be a nominee with the following conditions:-
    a. The nominee must be a Malaysian citizen;
    b. There is no age limit; and
    c. Nominations are limited to 2 people at a time. If the beneficiary wishes to change the nominee, the beneficiary can do so by filling in a new nomination form or any method determined by PTPTN. New nominations will cancel previous nominations.
  • Beneficiaries must make nominations for each account separately.
  • Naming details are confidential. Beneficiaries are advised not to disclose nomination information to anyone other than the nominee.
  • Nomination applications can be made by filling in the nomination form at the PTPTN counter or downloading the nomination form from the PTPTN Portal.
  • Beneficiaries must come to the counter in person with their Identity Card for verification. Application through a representative or by post is not allowed.
  • The effective date of the nomination is upon the receiving nomination form by PTPTN.
  • The beneficiary must ensure that the nominee's information is up to date and inform PTPTN if there is any change.
  • The nomination will be void if:
    a. The nominee is deceased;
    b. The beneficiary requests the cancellation of the nomination by attending at the PTPTN counter;
    c. Through any nomination made later by the beneficiary; or
    d. The beneficiary has closed the savings account.
  • Beneficiaries must make a renaming if opening a new savings account.
Nominee Check
  • Before the heir makes a claim for deposit withdrawal, the beneficiary's heir must check first the status of the nomination made by the beneficiary during his lifetime by submitting:-
    a. Death certificate of the beneficiary; and
    b. Document proof of relationship (birth certificate/ marriage certificate/ related documents)
  • Naming information can be given to the next of kin if the above documents prove a family relationship.


Nominating Beneficiaries
  • The withdrawal application must be from the appointed nominee by the beneficiary.
  • Payment will be made based on the following priorities:-
    a. The entire savings amount will be paid to the First Nominee only.
    b. If the First Nominee is deceased or cannot be traced (with proof), payment will be made to the Second Nominee.
    c. Claims can be made by the Second Nominee if the First Nominee is under 18 years old.
    d. If both nominees are less than 18 years old or have died when the claim is made, the claim method from the heirs of the beneficiary is the same as the method without nomination.
    e. If the First or Second Nominee is declared bankrupt, they need to bring an insolvency authorization letter when the claim is made to enable the Insolvency party to manage the nominee's money flow.
  • The nominee must bring the following documents when applying for account closure:
    a. Completed Account Closure Form
    b. Copy of nominee's MyKad
    c. A copy of the beneficiary's death certificate


Claims From Nominees Who Are Physically And Mentally Incapacitated
  • If the First Nominee suffers from health problems (physical and mental incapacity), then the Second Nominee can make a claim.
  • If the First Nominee dies, while the Second Nominee is physically and mentally incapacitated and certified unable to administer the savings, then other heirs are entitled to make a claim.
  • If both nominees are physically and mentally incapable, then the other heirs have the right to make the claim.
  • All three conditions above must be proven with a death certificate
    The nominee or the nominee's medical report by a Registered Medical Practitioner before the claim by the heir is made.
  • The claim method by heirs remains unchanged as the claim method without naming or any rules set by PTPTN from time to time.


Unnamed Beneficiaries
  • Heirs who make a claim must submit the following supporting documents to PTPTN for processing:
    a. Letter of Administration/ Grant of Probate/ Distribution Order
    b. Completed Account Closure Form
    c. A copy of the applicant's MyKad
    d. A copy of the beneficiary's death certificate
  • However, PTPTN can pay claims to applicants without an Administrative Letter of Administration/ Grant of Probate/ Distribution Order if the deposit does not exceed RM3,000 by filling in the Liability Bond Form and the Heir Confirmation Form and the application is made after a period of 2 months from the date of the beneficiary's death.
  • PTPTN will pay the claim by crediting it to the applicant's bank account.
  • Payment of claims for savings to the nominee is a valid release by PTPTN, all actions of the heirs against the nominee i.e. the executor are beyond the jurisdiction of PTPTN. However, PTPTN can only advise nominees (wasi) to distribute the savings according to Hukum Syarak (for Muslim beneficiaries). While the non- Muslim nominees is the beneficiary of the beneficiary's savings.
  • If the savings are not claimed by the nominee/ heir after 7 years from the claim eligibility date (nominee is 18 years old), PTPTN has the right to manage the beneficiary's account under the Unclaimed Money Act or in accordance with the relevant laws and regulations.

Income tax assessment on Simpan SSPN Prime savings:

  1. Parents and adoptive parents/ legal guardians who save in the SSPN Prime Savings account for the benefit of the child are given relief up to a maximum of RM8,000.00 per year subject to the current year's net savings amount;
  2. Parents who make separate assessments and have opened a separate Simpan SSPN Prime savings account for the same child are granted relief up to a maximum of RM8,000.00 per person per year;
  3. Parents who make a joint assessment and have opened a separate Simpan SSPN Prime savings account are given relief up to a maximum of RM8,000.00 per year; and
  4. Individuals who save for themselves are not given tax assessment relief.

*Note: Individual tax assessment relief until assessment year 2024

Takaful Protection
Takaful Protection
  • Takaful contributions are paid by PTPTN.
  • Ringgit to Ringgit coverage for general accounts.
  • Protection:
DeathPermanent Loss/Blindness
  • Benefit Amount equal to account balance (Ringgit to Ringgit)
  • Death benefit equivalent to RM2,000.00 (depositor)
  • Death benefit equivalent to RM500.00 (beneficiary)
  • Benefit Amount equal to account balance (Ringgit to Ringgit)

Note: Takaful benefit payments will be paid only once for an account in the event of permanent disability or death of the depositor according to the previous claim subject to the conditions defined in the Master Certificate.

  1. Depositors eligible for takaful protection are:
    i. Depositors between the ages of 18 and 65;
    ii. Depositors who have a savings balance at least RM1,000.00 and above on the date of the incident.
  2. For the purpose of a charitable death claim, the beneficiary must be between 1 day and 28 years old.

*Eligible before birthday date.

Matching Grant
Matching Grant

Matching Grants are financial incentives offered to depositors (parents or legal guardians). Starting from 1 January 2015, depositors whose monthly family income (basic salary) does not exceed RM4,000.00 per month are eligible to be considered for a Matching Grant according to the following conditions:

  1. The total amount of the Matching Grant that will be given to each eligible depositor is not more than RM10,000.00 per family.

  2. The depositor has a family monthly income (basic salary) not exceeding RM4,000.00.

  3. Beneficiaries (children) accepted and enrolled in any Higher Education Institution (HEI) recognized by the Government at the certificate, foundation, matriculation, diploma and above levels are eligible to be considered for a Matching Grant.

  4. Beneficiaries must not have reached the age of 29 at the time of application for the issuance of a Matching Grant.

  5. Matching Grant claims must be made during the beneficiary's study period.


The depositor must submit supporting documents that have been verified for the purpose of claiming the Matching Grant as follows:

  1. Income verification/ copy of income slip/ ​​copy of Pension Statement/ copy of Pensioner Card stating monthly pension of depositor and spouse;

  2. Copy of Birth Certificate/ Adoption Certificate/ Statutory Declaration Letter of beneficiary;

  3. Copy of spouse's MyKad/ Death Certificate/ Divorce Letter;

  4. A copy of the letter of offer to enroll in the IPT and the receipt of the enrollment fee in the IPT;

  5. Confirmation letter of active study from the relevant HEI/Agency and must record the course of study (if item 4 is not met)

  6. If the beneficiary gets a PTPTN education loan, documents (4) and (5) are not required.


Average savings based on monthly deposits for 17 years.


Note: The assumption of a dividend of 4% throughout the savings period

Age Limit For Account Opening Category
Age Limit For Account Opening Category

Accounts are opened by parents/legal guardians/other Malaysian citizens for beneficiaries aged 1 day to 29 years of age.

Malaysian citizens aged 18 to 29 have the option to either open an individual account or be a beneficiary where the account is opened by a parent/ legal guardian/ other Malaysian citizen.

Malaysian citizens who are 29 years old and above need to open an individual account.

Withdrawal/Closing of Simpan SSPN Prime Account
Withdrawal/Closing of Simpan SSPN Prime Account

Depositors may make withdrawals or close their accounts at any time, subject to the regulations set by PTPTN. Starting from 2 August 2023, the daily withdrawal/transfer limit (onlinethrough PTPTN's Official Portal is up to RM1,000 per account (including the qualifying amount for the Grant of up to RM500 and other specified account maintenance conditions). If a depositor wishes to make a withdrawal/transfer exceeding the set limit, they can submit a request for withdrawal/transfer at the PTPTN office counter.

Required documents:

  1. Deposit Withdrawal Slip/ Matching Grant Claim or Withdrawal Form/ Account Closure/ Matching Grant Claim.

  2. Submit the depositor's bank account number if you want the savings to be credited to the depositor's account. The account must be in the name of the depositor and not a joint account.

Required documents:

  1. Deposit Withdrawal Slip/ Matching Grant Claim or Borang Pengeluaran/ Penutupan Akaun/ Tuntutan Geran Sepadan;
  2. Copy of MyKad/ Police Card/ Military Card of the Depositor;
  3. Copy of MyKad/ Police Card/ Waris Military Card; and
  4. Death Certificate of Depositor.

If The Deposit Is Less Than RM3,000.00

Required documents:

  1. Account Closure Form or Borang Pengeluaran/ Penutupan Akaun/ Tuntutan Geran Sepadan;
  2. Copy of the heir's MyKad/ Police Card/ Military Card;
  3. Copy of the depositor's Death Certificate;
  4. Heir Confirmation Form to the depositor of Simpan SSPN Prime (deceased);
  5. Loss Liability Bond form prepared by PTPTN and stamped Revenue Stamp worth RM10.00;
  6. The heir's personal bank account number if the savings are to be credited to the heir's account.

For Savings Amounting to RM3,000.00 and Above

Documents to be submitted by the heir:

  1. Account Closure Form or Disbursement Form/ Account Closure/ Corresponding Grant Claim;
  2. A copy of the heir's MyKad/ Police Card/ Military Card certified by an authorized party;
  3. Copy of the depositor's Death Certificate;
  4. Submit one of the following documents from any designated body (original and copy):
    1. Power of Administration/Grant of Probate (Petition under the Probate and Administration Act 1959) issued by the High Court of Malaya; or
    2. Administrative Power of Attorney issued by the Land and District Office; or
    3. Administrative Power of Attorney issued by Amanah Raya Berhad Section 17 of the Amanah Raya Corporation Act 1995 (Declaration / Instructions).

The details of Simpan SSPN Prime must be listed or specified in the Administrative Power of Attorney or Probate Grant to enable the withdrawal of Simpan SSPN Prime from the depositor's (deceased) account.


Malaysian citizens aged 16 years old and above

Beneficiaries aged 1 day up to before 29 years old

Beneficiaries consist of oneself/ biological children/ legally adopted children only

Beneficiaries who have reached the age of 18 can choose to open an account for themselves

Account Opening Steps

Log into myPTPTN

Click "SERVICES" then click "Open Simpan SSPN Prime Account" and fill in all the information completely

Check the account information and make a self-declaration confirmation

Make payment and the system will generate a receipt that can be saved and printed if the transaction is successful

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