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


Programme Brief

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


List of PTPTN Branches
Open SSPN-i Plus 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) 

  • Shariah-compliant

  • 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? 

Eligibility Criteria

  • Malaysian citizen.

  • Depositor: Age 18-64

  • Child Beneficiary: Age below 29

  • Minimum deposit: RM30



Location: Malaysia

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