KUALA LUMPUR – The National Higher Education Fund Corporation (PTPTN) announced the dividend for the National Education Savings Scheme (SSPN), SSPN-I and SSPN-I Plus for the financial ending year 2019 at 4%.
Its Chairman, Wan Saiful Wan Jan said, the dividend distribution involves an allocation of RM147.25 million and will be enjoyed by over 4.39 million of SSPN depositors.
“Alhamdulillah, with the great efforts and efficiency of the management and officers in managing the fund, PTPTN is able to provide an SSPN dividend rate of 4% despite the less encouraging economic situation,” he said, stating that the dividend will be credited to the accounts of its depositors on 8 February.
According to him, PTPTN has distributed a total of RM647.65 million to its depositors since 2014.
He also announced that the investment profit of SSPN last year had increased to RM205.27 million compared to RM163.54 million in 2018.
Besides that, Wan Saiful also said that the SSPN had collected a total deposit of RM1.37 billion last year, the highest deposits achieved by PTPTN since its inception in 2004.
“This achievement shows an increment of RM240 million or 21.24% compared to 2018,” he announced today.
The strong increment, according to him, is a sign that most Malaysians have realised the importance of financial planning for their children.
“It is based on the 455,952 new accounts opened in 2018,” he said.
For this year, the PTPTN targets a collection of RM1.5 billion in SSPN deposits.
“The target is based on the positive achievement of SSPN last year and the various proactive measures which will be taken by PTPTN in its operation and marketing throughout 2020,” he added.
At the same time, Wan Saiful also launched the Loyalty Award of 1% to the SSPN-I depositors who opened their accounts before 2017.
The recipients of the award also need to increase their savings throughout the promotional period between 5 February and 30 April 2020. -MalaysiaGazette