KUALA LUMPUR: The National Higher Education Fund Corporation (PTPTN) has declared a dividend of three per cent for the National Education Savings Scheme (Simpan SSPN) 2021.
PTPTN chairman Datuk Wan Saiful Wan Jan at the announcement ceremony today said the dividend involved an estimated allocation of RM206.25 million, which would benefit 5.24 million Simpan SSPN account depositors.
"This brings the total annual dividend given to depositors since Simpan SSPN was set up in 2004 to a whopping RM1.06 billion.
"The dividend payout is from the net returns on investments made using the deposits received by the PTPTN," he said in his speech.
He said the dividend given by PTPTN through its Simpan SSPN scheme was still competitive compared with current savings and fixed deposit rates at local banks, which ranged between 1.5 and 2.2 per cent per annum.
"We must take into account that PTPTN is only permitted to invest in limited markets and the sukuk market.
"Therefore, if you look at the three per cent dividend compared with the 1.75 overnight policy rate set by the Bank Negara Malaysia, the pay-out is much better.
"Apart from the dividend, SSPN also offers various privileges to depositors, such as tax relief up to RM8,000 per annum, Takaful coverage and matching grants for free, up to RM10,000 per family depending on the eligiblity.
"This means, Simpan SSPN depositors will actually enjoy double profit and not just a three per cent dividend rate," Wan Saiful added.
Present at the ceremony was PTPTN chief executive officer Ahmad Dasuki Abdul Majid.
He said the ability of PTPTN to give a three per cent dividend, despite the economic slowdown brought on by the pandemic, showed that it was reliable and competitive in the market, besides being the best option for parents to save for their children's education.
"Simpan SSPN depositors can check their dividend on their statement through the official portal www.ptptn.gov.my from Friday (Feb 25) onwards.
At the same event, Wan Saiful also launched the Ganjaran Kesetiaan Simpan SSPN Prime 2022 campaign, which pays out a one per cent return from the Simpan SSPN programme for those who had been saving from 2004 until Dec 31, 2018.
"The campaign started today and will run until the end of April. This campaign will be enjoyed by Simpan SSPN Prime depositors, who make accumulated savings during the promotion period with a minimum amount of RM500.
"This campaign is also very worthwhile as an additional return to the annual dividend. To all eligible Simpan SSPN depositors, make sure you grab this golden opportunity, " Wan Saiful said.