The Education Savings Fund (SSPN) is a government-run savings plan designed to encourage people to save, and SSPN depositors will enjoy many benefits such as interest on deposits, insurance coverage, personal income tax rebates, death benefits, medical coverage, and more.
It is important to note that there are two types of SSPN plans, namely Simpan SSPN Prime and Simpan SSPN Plus, which are savings plans with free deposits and withdrawals, while Simpan SSPN Plus is an insurance plan with regular monthly deposits and a portion of the deposits will be used as A portion of the deposit will be used as insurance premium.
SSPN announces its annual dividend in February and has been paying an average of 4% interest for the past 10 years, although last year it only paid out 3%. With last year’s payout reduced to 3%, many people have no expectations for this year’s payout.
SSPN’s dividend payout ratio in previous years.
2008: 4.00%
2009: 2.50%
2010: 3.25%
2011: 3.75%
2012: 4.25%
2013: 4.25%
2014: 4.25%
2015: 4.00%
2016: 4.00%
2017: 4.00%
2018: 4.00%
2019: 4.00%
2020: 4.00%
2021: 3.00%
2022: (expected to be announced in February 2023)
