MyBenefits: Safety Net
Government Savings Scheme - National Education Savings Scheme (SSPN-i Plus)
Government higher education saving scheme with insurance coverage
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 Plus)
Updated on October 09, 2018
What is this programme about?
Purpose of the Programme
Similar to the SSPN-i programme, SSPN-I Plus is an education saving scheme for Malaysian parents to save and invest for their children’s future higher education funding needs. SSPN-I Plus gives the depositor the option to purchase insurance coverage (takaful) at a minimal and affordable cost. It is also Shariah-compliant and the fund is managed by Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN), an agency under the Ministry of Education (MoE). The insurance covers medical allowance, death and total/permanent disability (TPD).
How much I need to Pay?
Consumers can choose from six SSPN-i Plus packages of education fund savings and insurance premium combinations.
Check the savings and insurance plan offered
Assistance: Education Fund with insurance coverage
Income Group: All Malaysians
Target Group: All Malaysians
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
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)
Competitive tax exempted dividend rate (average 4%) on the amount invested
Income tax relief of up to RM6, 000 per year with and the portion paid for the insurance coverage can be added to the EPF/life insurance contribution relief category.
Savings are guaranteed by the Malaysian Government
Insurance coverage for death or permanent disabilities
Funeral Expenses (Khairat)
No medical check-up required for insurance coverage
Who can apply?
Depositor: Age 18-64
Child Beneficiary: Age below 29
Minimum deposit: RM30
If you have any positive ideas or comments to share or help us improve our work, we would love to hear from you.
Cost of Living Reliefs
Retirement & Savings
Follow the Journey of the New Malaysia
Things that Matter to all Malaysians
The Malaysian Ringgit >