KUALA LUMPUR (Feb 22): A dividend of 3% has been declared for the National Education Savings Scheme (SSPN) for 2021, slightly lower than 4% dividend declared for the previous year. 

The dividend involves an estimated allocation of RM206.25 million, which will benefit 5.24 million SSPN account depositors, according to National Higher Education Fund Corp (PTPTN) chairman Wan Saiful Wan Jan. 

This brought to RM1.06 billion the total annual dividend given to distributors since SSPN was set up, he shared. 

The dividend payment is facilitated by net returns on investments made using deposits received by PTPTN. 

Wan Saiful said PTPTN earned profit on SSPN investment deposits amounting to RM267.61 million, an increase of RM30.19 million or 12.72%, compared with RM237.42 million in 2020.

“We would like to congratulate all depositors who always continued to save with PTPTN using SSPN. 

“We will continue to diversify our efforts in ensuring that this achievement can be improved in the upcoming years,” Wan Saiful said during an event on Tuesday (Feb 22). 

He said the SSPN collection of RM3.01 billion in 2021 was the highest since the establishment of PTPTN, and was higher by RM1.02 billion or 51.26% compared with the RM1.99 billion collected in 2020.

Total SSPN collection as of Dec 31, 2021 was RM10.88 billion, he added.

PTPTN also said 421,281 new SSPN accounts were opened in 2021, higher than its target of 400,000 new accounts per year.

“As at Dec 31, 2021, a total of 5.24 million accounts had been opened since SSPN was introduced in 2004,” Wan Saiful added.