
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
Contacts
Ministry: Ministry of Education
Agency: Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN)
Website:
Mailing address : Tingkat Bawah, Menara PTPTN, Blok D, Megan Avenue II, No.12, Jalan Yap Kwan Seng, 50450 Kuala Lumpur.
Telephone: 03-2193 3000
Web-links
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).
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Qualified to apply for the PTPTN education loans (the account must have an invested minimum amount as specified by PTPTN)
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Shariah-compliant
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Competitive tax exempted dividend rate (average 4%) on the amount invested
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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.
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Savings are guaranteed by the Malaysian Government
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Insurance coverage for death or permanent disabilities
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Funeral Expenses (Khairat)
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No medical check-up required for insurance coverage
Who can apply?
Eligibility Criteria
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Malaysian citizen.
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Depositor: Age 18-64
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Child Beneficiary: Age below 29
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Minimum deposit: RM30
Contacts
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