PTPTN declares four per cent dividend for SSPN1M in 2017
KUALA LUMPUR: The National Higher Education Fund Corporation ( PTPTN) has declared a four per cent dividend for its two savings products SSPN-i and SSPN-i Plus under its 1Malaysia National Education Savings Scheme (SSPN1M) 2017.
Its chairman Datuk Dr Shamsul Anuar Nasarah said the dividends amounted to RM92.56 million and will benefit more than 3.2 million SSPN1M depositors.
“The four per cent SSPN1M 2017 dividend is based on the net returns of investments made through deposits received by PTPTN.
“The PTPTN is still able to maintain the dividend rate given last year even though 2017 was a challenging year,” he said.
“As of 2016, PTPTN paid out RM288.6 million in dividends to depositors,” he said at a function to announce the 2017 SSPN1M Scheme dividend at Menara PTPTN yesterday.
Shamsul said since it was introduced in 2004 till Dec 31, 2017, SSPN1M recorded a total of RM3.3 billion in deposits with a total of 3.2 million accounts.
He said in 2017, the amount of deposits in SSPN1M was RM727.40 million, surpassing the original target of RM550 million, with 447,039 new accounts opened by depositors.
“This indirectly shows that the people have begun making early preparations for their children’s education and depending less on loans for higher education,” he said.
Asked about the target for 2018, Shamsul said PTPTN was targeting a deposit collection of RM600 million with an increase of about 350,000 new accounts. — Bernama