SSPN stands for Skim Simpanan Pendidikan Nasional.
For those of you who has fully utilized your EPF and insurance premium to reduce your tax, you may consider to open an account with SSPN because saving with them also entitled tax payer to claim a tax relief up to RM3,000 per year.
There are 3 categories of SSPN’s accounts:
Category 1:
An account opened by the parents/guardian OR any Malaysian FOR any Malaysian whose age does not exceed 18 years old and it can be maintained until the age of 28 years;
Category 2:
Malaysians whose age is 18 years old and above, have the option of either opening the account on their own OR being opened by their parents/guardian; and
Category 3:
Malaysians whose age is 29 years old and above, have to open the account on their own.
Saving can be done through e-SSPN (for those who have savings accounts in Bank Islam Malaysia Berhad, CIMB Bank, Hong Leong Bank, Public Bank Berhad and Maybank) or alternatively you may get the application form from the abovementioned banks.
For details, kindly log into website:
http://www.ptptn.gov.my/web/english/savings/gen-info
http://www.hasil.gov.my/lhdnv3e/individuIndex.jsp?process=21000&menu=34
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