9 Benefits of SSPN-i Plus by PTPTN

As parents, I believe we all know and acknowledged that education cost is going to cost a toll on every parent.

I was a PTPTN (Perbadanan Tabung Tinggi Pendidikan Nasional) borrower to complete my degree at a local university. On top of my PTPTN study loan, my parents still provide me with weekly pocket money.

I am truly thankful to my parents and PTPTN to support me throughout my university days. That was slightly more than 20 years ago. Time really flies.

Now, we have SSPN-i Plus for parents to prepare for their children’s education funds.

What is SSPN-i Plus?

Probably many of you have not heard of SSPN-i Plus (Skim Simpanan Pendidikan National or National Education Saving Scheme).

But, I guess you have come across the term SSPN under the tax relief section when you fill in your yearly LHDN (Lembaga Hasil Dalam Negeri) income tax either through the hardcopy or e-filling.

SSPN-i Plus is an effort by PTPTN for fellow Malaysian to save for higher education.

The earlier version is called SSPN, SSPN-i Plus is a newer version with enhancement and different plans to cater for different needs.

What are the benefits of SSPN-i Plus?

So, should you consider investing in SSPN-i Plus?

Here I would like to share 9 benefits when you sign up for SSPN-i Plus:

1. A trusted education saving scheme by PTPTN. Less worry as it is backed by the Malaysian government.
2. Come with Death Benefits/Total Permanent Disability Benefits (TPD) up to RM1,000,000.
3. Takaful benefits for 36 illness
4. Hospitalization benefits
5. No medical check-up is required.
6. Competitive dividend and it is tax exempted.
7. Occasionally, there will be lucky draws for its depositor.
8. Enjoy income tax relief up to RM8,000 and an additional RM7,000 for government pensioners. This is the immediate benefit enjoyed by most parents enrolled for SSPN-i Plus.
9. Eligible to apply for PTPTN study loan

What are the advantages of SSPN-i Plus

Below are 3 advantages of SSP-i Plus:

1. It is a convenient saving plan. Because you may open an account through online or PTPTN offices or certified PTPTN online agents.
2. SSPN-i Plus offers Six different plans to cater to the different needs of each family. The plan starts from as low as RM30 per month.
3. For top-up, you may top-up through online banking, monthly deduction from your salary, auto-debit through selected local banks, online banking (MBB and CIMB), Jompay or PTPTN offices nationwide.

Since education cost keeps increasing, parents might want to consider starting saving early.

Final thoughts

I hope my sharing above is able to provide you with information on SSPN-i Plus, especially on its benefits.

If you have young kids, do consider investing in this scheme. Your kids will be thankful to you for this simple but wise decision you made for them.

To subscribe, you may visit the SSPN-i Plus website (referral link).

Read more: The cost of having a baby in Malaysia