The National Higher Education Fund Corporation (PTPTN) has recently declared the dividend for Simpan SSPN Prime. Its FY2024 dividend is 4.05%.
Dividend history
Click here to see Simpan SSPN Prime past dividends.
This dividend is 12.5% higher than the rate last year and is the highest in the last 10 years.
My view
For me, Simpan SSPN Prime is primarily a tax-saving instrument. Thus, I consider this rate to be very good. Furthermore, the tax relief (up to RM 8,000) is extended till year 2027. Nonetheless, unlike in previous years, the tax relief can be claimed by either one parent only, starting from 2025. Thus, you have to do some planning to maximise this tax relief. If you need my help in this matter, just leave your details by clicking the button below.
As I have withdrawn a large sum from my Simpan SSPN Prime account for house renovation, I would not be able to claim this tax relief in YA2025. Thus, I will ask my wife to claim this tax relief by contributing to our daughter’s account. I plan to continue contributing to Simpan SSPN Prime next year to claim the tax relief as my tax liability is higher than my wife.
In addition to the annual dividend, PTPTN also launched the Simpan SSPN Prime 2025 Loyalty Reward campaign, offering a 1% reward as a special token of appreciation for long-term depositors. However, this campaign is only open to depositors who opened a Simpan SSPN Prime account between 2004 and 31 December 2021. To qualify, depositors must make a minimum deposit of RM1,000 during the promotional period from May 1 to July 31, 2025. Sadly, I opened my account in 2022, so I am not qualified. If you are eligible, do take this chance to increase your return.
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Disclaimer: This post is for informational purpose only. You should use judgment and conduct due diligence before taking any action or implementing any plan suggested or recommended in this article.
