KUALA LUMPUR: The National Higher Education Fund Corporation (PTPTN) today declared a dividend of three per cent for the National Education Savings Scheme (SSPN) 2021 through two savings products, namely 'Simpan SSPN Prime' and 'Simpan SSPN Plus'.

Its chairman, Datuk Wan Saiful Wan Jan said it involved the distribution of dividends with an estimated allocation of RM206.25 million and would benefit 5.24 million PTPTN depositors.

"The dividend payout given to Simpan SSPN depositors is based on the net returns on investments made on deposits received by PTPTN.

"The dividend given is still competitive compared to the current account profits and fixed deposits (rates). It also takes into account that PTPTN is only permitted to invest in limited markets and sukuk market," he said.

Wan Saiful said this to reporters after announcing the Simpan SSPN dividends for 2021 and launching "Ganjaran Kesetiaan Simpan SSPN Prime 2022" campaign. Also present at the event were PTPTN chief executive officer Ahmad Dasuki Abdul Majid and chief operating officer Mastura Mohd Khalid.

Wan Saiful said the three per cent dividend payout clearly shows that Simpan SSPN remained competitive compared to other savings products offered in the market despite the country's volatile economy.

He hopes that this will attract Malaysians to make Simpan SSPN the main choice for their children's education savings.

He said apart from dividends, Simpan SSPN also offers tax assessment relief of up to RM8,000 a year, takaful coverage and matching grants for free up to RM10,000 for each eligible family.

Meanwhile, Wan Saiful also launched the SSPN Prime 2022 Savings Loyalty Reward campaign at a rate of one per cent as a sign of PTPTN's appreciation to depositors who make long-term savings.

He also said the promotion period is from Feb 22 to April 30, and depositors who are eligible are those who opened SSPN Prime Savings accounts between 2004 and Dec 31, 2018.

He added the loyalty reward would be enjoyed by SSPN Prime Savings depositors who made accumulated savings during the promotion period with a minimum amount of RM500 and this campaign is also very worthwhile as an additional return to the annual dividend.

-- BERNAMA