As of September 30, 2023, there were a total of 6.11 million SSPN accounts with total deposits of RM15.94 billion.
The National Education Savings Fund (SSPN) is a savings plan launched by the government to encourage people to save. SSPN depositors will enjoy many benefits, such as deposit interest, insurance protection, personal income tax rebates, death benefits, medical protection, etc.
SSPN will announce dividends from February to March every year. This year’s dividend is 3.05%, while last year’s dividend was 3%. The dividends in previous years were around 4%.
SSPN is divided into 2 plans, namely Simpan SSPN Prime and Simpan SSPN Plus.
1. Simpan SSPN Prime
Simpan SSPN Prime is a savings plan, and depositors can deposit and withdraw money freely. One advantage of Simpan SSPN Prime is that users can deposit according to their financial ability. If money is tight this month, you can choose not to deposit money temporarily. You can choose to make a deposit next month when your money is tight.
2. Simpan SSPN Plus
As for Simpan SSPN Plus, it is an insurance plan that requires regular monthly deposits, and part of the deposit will be used as insurance premiums. It is not recommended that you deposit Simpan SSPN Plus because you need to deposit a specific amount every month, and part of it will be used to pay insurance premiums.
