KUALA LUMPUR: PTPTN expects the dividends for the National Education Savings Scheme (Simpan SSPN) for 2023 to be higher than last year, according to its chairman Datuk Norliza Abdul Rahim. This is due to an increase in investment profits, performance trends of Simpan SSPN deposits, and the privileges and benefits of the scheme.
Norliza said that in 2023, PTPTN recorded an investment return of Simpan SSPN deposits of RM287.64mil for the period from January to September, compared with RM220.60mil for the same period in 2022. The increase in the overnight policy rate to 3% on May 3 helped PTPTN obtain more consistent investment returns, and it declared a 3.05% dividend for Simpan SSPN for 2022.
The increased profits were supported by short- and long-term syariah-compliant investment methods in the local money market, which protected the principal and provided high returns. The investment strategy’s focus on long-term fixed savings and involvement in the sukuk market also helped increase returns.
PTPTN will continue raising public awareness to encourage saving in Simpan SSPN to avoid relying on loans. Norliza urged parents to save in Simpan SSPN to enjoy various benefits, including takaful protection for depositors and matching grants of up to RM10,000 for each eligible family. Simpan SSPN deposits are also the only savings product that provides tax assessment relief of up to RM8,000 annually.
