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New Straits Times
02-05-2025
- Business
- New Straits Times
PTPTN dividend reflects strong governance
KUALA LUMPUR: The National Higher Education Fund Corp (PTPTN) has announced a 4.05 per cent dividend for its Simpan SSPN savings scheme for 2024 — the highest return in 10 years. The dividend rate surpasses the 3.60 per cent distributed in 2023 and marks a milestone in PTPTN's track record of prudent financial management. Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir said the increase reflected the efficient, strategic and high-integrity governance of the fund, delivering optimal returns to depositors. He said that since its launch in 2004, PTPTN had grown into a crucial tool for Malaysians to financially plan for their children's future education. Zambry highlighted the scheme's broader role in the national education landscape. "For the past 28 years since its establishment, PTPTN has played a vital role in upholding higher education through the loan facilities provided to students at institutions of higher learning," he said. The dividend announcement, he said, demonstrated PTPTN's unwavering commitment to managing education savings with long-term sustainability in mind. He said effective risk management, along with strategic portfolio selections in long-term fixed deposits and sukuk (syariah-compliant bonds), had contributed significantly to the favourable results. Zambry said the 4.05 per cent dividend represented a positive net investment return compared with Bank Negara Malaysia's Overnight Policy Rate (OPR), which was maintained at three per cent throughout 2024. "This shows how PTPTN's investments outperformed market benchmarks while ensuring capital protection," he said. Beyond dividend performance, Zambry highlighted the strong public confidence in Simpan SSPN, citing the wide range of benefits it offered. "Most notably, it is the only savings product in the country offering tax relief of up to RM8,000 per year," he said. Other key benefits include takaful protection for depositors, a matching grant of up to RM10,000 for eligible families, government-backed savings, and strict syariah compliance. In terms of performance, PTPTN reported deposits totalling RM3.17 billion for Simpan SSPN in 2024 — an increase of RM24.37 million or 0.77 per cent from the previous year. More than 500,000 new accounts were opened, and by Dec 31 last year, the total cumulative deposits reached RM20.56 billion across 6.77 million accounts. "Over the past two decades, Simpan SSPN has recorded consistent positive performance and continued to gain public trust and confidence," said Dr Zambry. To reward long-term savers, Zambry announced the Ganjaran Kesetiaan Simpan SSPN Prime Campaign. "As a special gesture, a one per cent Loyalty Reward will be given in addition to the annual dividend to long-term Simpan SSPN Prime depositors," he said. The campaign runs from May 1 to July 31, 2025, and applies to those who opened accounts between 2004 and Dec 31, 2021, with a minimum deposit of RM1,000 during the campaign period. "Don't miss the opportunity to boost your savings and enjoy this additional reward," he said, calling the loyalty campaign a "win-win incentive" for long-term depositors. Zambry hoped the competitive dividend would encourage more new depositors to save with Simpan SSPN and motivate existing ones to increase their savings. He expressed optimism that Simpan SSPN would remain the top choice for Malaysians saving for children's higher education.
Free Malaysia Today
30-04-2025
- Business
- Free Malaysia Today
PTPTN declares 4.05% dividend for Simpan SSPN scheme, highest in a decade
Higher education minister Zambry Abdul Kadir (second from left) and PTPTN CEO Norliza Abdul Rahim (left) holding up the placards announcing the Simpan SSPN dividends. (PTPTN pic) PUTRAJAYA : The National Higher Education Fund Corporation (PTPTN) has declared a 4.05% dividend for Simpan SSPN for 2024, the highest rate recorded in the last 10 years. Higher education minister Zambry Abdul Kadir said the dividend, which involves a total distribution of RM439.87 million, would benefit some 6.77 million depositors. He said since the scheme was introduced in 2004, the total dividends distributed came up to RM2.12 billion. In 2023, PTPTN declared a dividend of 3.60%. Zambry said the dividend declared in 2024 highlighted PTPTN's efficiency in managing funds to ensure optimum returns for its clients. He said the increase in dividends was also due to long and short-term shariah-compliant investment strategies which not only ensure higher returns but were inline with its principles. 'The declaration of a 4.05% dividend also highlights a positive return of investment when compared with the 3.0% overnight policy rate set by Bank Negara Malaysia,' he said when announcing Simpan SSPN dividends for 2024 and launching the Ganjaran Kesetiaan Simpan SSPN Prime 2025, here. Also present were deputy minister of higher education Mustapha Sakmud, PTPTN chairman Norliza Abdul Rahim and the fund's CEO Ahmad Dasuki Abdul Majid. According to PTPTN, the dividends will be banked directly into the Simpan SSPN accounts and depositors can check their statements via the myPTPTN app from May 2 onwards. Last year, Simpan SSPN received total deposits of RM3.17 billion, while over 500,000 new accounts were opened. 'The figure represents an increase of RM24.37 million or 0.77% compared to the RM3.15 billion declared in 2023. 'The total deposits collected as of Dec 31, 2024 was RM20.56 billion involving some 6.77 million accounts. It is an achievement to be proud of as well as proof that the public support for the SSPN scheme remains strong.'
