Latest news with #RM2.12bil
The Star
09-05-2025
- Business
- The Star
HIGHEST IN A DECADE
PTPTN announces 4.05% Simpan SSPN dividend for 2024 THE National Higher Education Fund Corporation (PTPTN) declared a 4.05% dividend for the National Education Savings Scheme (Simpan SSPN) in 2024. Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir said this is the highest dividend in the last 10 years and a significant jump from 2023's dividend, which stood at 3.6%. 'I would like to congratulate PTPTN for its efforts undertaken under Simpan SSPN, to ensure that saving for our children's future education can be done effectively,' he said during his address at the ministry's headquarters in Putrajaya on Apr 30. 'Over the past 21 years, the organisation has ensured that Malaysian children entering higher education are able to pursue their studies without any serious obstacles or other factors preventing their entry into institutions of higher learning. 'It has also continuously worked to encourage more Malaysians to save for their children's future, so that they have the best opportunities to further their education.' Also in attendance during the announcement ceremony were Deputy Higher Education Minister Datuk Mustapha Sakmud, PTPTN chairman Datuk Seri Norliza Abdul Rahim and chief executive Ahmad Dasuki Abdul Majid. During the announcement, Zambry added that the dividend will benefit 6.77 million depositors, involving a total allocation of RM439.87mil. This brings the total dividend payout since Simpan SSPN's inception in 2004 to RM2.12bil. He shared that interest and support from citizens are also on the rise, with over 500,000 new accounts opened just last year. Last year, Simpan SSPN received deposits amounting to RM3.17bil, an increase of RM24.37mil or 0.77%, compared to the RM3.15bil deposited in 2023. As of Dec 31, 2024, the total accumulated deposits received stood at RM20.56bil. He added that effective risk management, along with strategic portfolio selections in long-term fixed deposits and sukuk (Shariah-compliant bonds), had contributed significantly to the favourable results. 'This is a commendable achievement and a testament to the continued support of depositors, as well as PTPTN's efficiency in managing the savings fund effectively through integrity-driven and strategic governance to ensure optimal returns for depositors,' said Zambry. The 4.05% dividend also reflects a competitive and positive net investment return compared to the overnight policy rate (OPR) set by Bank Negara, which remained at 3.0% throughout 2024. Depositors can check their savings statements online via the myPTPTN app from May 2. Simpan SSPN Prime The ceremony also witnessed the launch of the Simpan SSPN Prime 2025 Loyalty Rewards campaign, which aims to disseminate various privileges and benefits to loyal depositors, including an additional 1% loyalty reward on top of the annual dividend. This savings scheme is specially curated for loyal and consistent depositors, rewarding them for their long-term savings. The loyalty reward will be given to depositors who save a minimum of RM1,000 during the promotional period, which runs till July 31. This is the sixth consecutive year the rewards campaign has been held since it was first introduced in 2019. It is open to depositors who opened their accounts from 2004 up to Dec 31, 2021. Apart from annual dividends, Simpan SSPN also offers various privileges and benefits, including individual income tax relief of up to RM8,000 per year, takaful protection for depositors, free matching grants of up to RM10,000, Shariah compliance and savings guaranteed by the government. Zambry added that the campaign also aims to encourage more Malaysians to actively save for their children's higher education from an early age. 'Under the Madani government, these schemes and policies will continue to be improved to ensure that opportunities for higher education are made available to Malaysian students in the best possible way,' he said. 'We hope more citizens will continue their efforts to save through Simpan SSPN, utilising the fund as a savings platform for their families' future.' For more information, visit
The Star
30-04-2025
- Business
- The Star
PTPTN announces 4.05% Simpan SSPN dividend
PETALING JAYA: The National Higher Education Fund Corporation (PTPTN) on Wednesday announced a 4.05% dividend distribution for the National Education Savings Scheme (SSPN) for the 2024 financial year — the highest rate in a decade. Higher Education Minister, Datuk Seri Dr. Zambry Abd Kadir, said the dividend allocation amounts to RM439.87mil, which will benefit 6.77 million depositor accounts. 'The total SSPN dividend payout now reaches RM2.12bil since its introduction in 2004,' he said during a press conference on the SSPN dividend announcement held Wednesday (April 30), reported by Sinar Harian. He also emphasised that this dividend performance reflects the stability and consistent investment performance of SSPN, as well as PTPTN's commitment to providing a profitable education savings instrument for the people.
