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Government Savings Scheme - National Education Savings Scheme (SSPN-i)

Government higher education saving scheme 

Posted on October 09, 2018

All information has not been verified by the relevant Ministry/Agency

New Malaysia | New Government Programmes |

National Education Savings Scheme (SSPN-i)

Updated on October 09, 2018


What is this programme about?

Purpose of the Programme

The National Education Savings Scheme (SSPN-i) is an education saving scheme for Malaysian parents to save and invest for their children’s future higher education funding needs.  The SSPN-i is a Shariah-compliant fund that is managed by Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN), an agency under the Ministry of Education (MoE). As of Aug 31, 2018, there were 3.67 million SSPN accounts with total savings of RM3.8bil. In 2018, SSPN-i was rebranded Skim Simpanan Pendidikan Nasional 1 Malaysia (SSPN1M-i).


How much can you save?
SSPN-I is a flexible voluntary monthly savings scheme with a required minimum of RM20, you invest what you can afford.  According to the PTPTN calculation, for every RM100 monthly investment, you could save up to RM15,000 in 10 years.  Check the estimated savings at Anggaran Tabungan.


Programme Brief

Assistance: Education Fund 
Income Group: All Malaysians 
Target Group: All Malaysians
Subsidy: The government provides a matching grant for qualified households earning less than RM4,000 a month



Ministry: Ministry of Education 
Agency: Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN)
Mailing address : Tingkat Bawah, Menara PTPTN, Blok D, Megan Avenue II, No.12, Jalan Yap Kwan Seng, 50450 Kuala Lumpur.
Telephone: 03-2193 3000


List of PTPTN Branches
Open SSPN-i account

What are myBenefits? 
The benefits of the programme
This scheme comes with multiple privileges for savers (there are terms and conditions applied to the benefits, check with PTPTN).

  • Qualified to apply for the PTPTN education loans (the account must have an invested minimum amount as specified by PTPTN) 

  • Income tax relief of up to RM6, 000 per year

  • Takaful coverage free of charge for accounts with savings of RM1, 000 and above

  • A matching grant of up to RM10, 000 for eligible low-income families earning less than RM4,000 a month

  • Competitive tax exempted dividend rate (average 4%)

  • Savings are guaranteed by the Malaysian Government

  • In the 2018, for first 500,000 contributors age 17 – 12, the government contributes RM500


Who can apply? 

Eligibility Criteria

  • Malaysian citizen.

  • Depositor: Age 18-64

  • Child Beneficiary: Age below 29

  • Minimum deposit: RM20



Location: Malaysia

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