PTPTN declares 4% dividend for SSPN-i, SSPN-i Plus

KUALA LUMPUR: The National Higher Education Fund (PTPTN) has declared a dividend payout of 4% for 2016 National Education Savings Scheme (SSPN-i) and SSPN-i Plus amounting to RM76.74 million, which will be paid to the depositors this month.
“The 4% dividend rate for 2016 SSPN-i and SSPN-i Plus was based on net returns on investments of deposits received.
“Last year was a challenging year for all of us, but PTPTN is still able to maintain the dividend rate for SSPN-i and SSPN-i Plus as of the previous year,” its chairman Datuk Dr Shamsul Anuar Nasarah told reporters at a press conference here yesterday.
For 2017, the education fund is targeting 350,000 new accounts, which is expected to involve a deposit worth RM550 million.
Shamsul noted that SSPN-i and SSPN-i Plus deposits rose 9.2% to RM544.49 million last year, from RM498.61 million in 2015.
“This shows that there is awareness to make savings for the purpose of higher education among Malaysians.
“Given the competitive dividend rate, it is hopeful that it will make SSPN-i and SSPN-i Plus more competitive and able to attract more new accounts opening as well as additional deposits,” he added.
For the period between 2004 and Dec 31, 2016, Shamsul said, a total of 2.7 million account holders have been recorded under the SSPN-i scheme with deposits totalling RM2.6 billion.
Meanwhile, for SSPN-i Plus, which was launched in June 2015, Shamsul said 52,615 accounts were opened as of Dec 31, 2016, involving deposits of RM19.9 million (including takaful), with takaful insurance coverage worth up to RM2.3 billion.
SSPN-i is a savings scheme designed by PTPTN for higher education. SSPN-i Plus is an upgrade of the SSPN-i, which adopts the concept of monthly savings commitments, depending on the package chosen.
As of 2015, PTPTN has disbursed a dividend payout of RM212.6 million to its depositors.