KUALA LUMPUR: National Education Savings Scheme (SSPN) account holders will receive a four per cent annual dividend for 2020.
Higher Education Minister Datuk Seri Dr Noraini Ahmad said about 4.82 million SSPN account holders will benefit from the RM201.3 million dividend.
"This dividend distribution is made possible by the net return on investments made through deposits received by the National Higher Education Fund Corporation (PTPTN) for the whole of 2020.
"This payout would bring the total amount of dividend paid to RM856.6 million since the scheme was introduced in 2004," she said.
Noraini said PTPTN's efficiency in implementing shariah-compliant investment methods in the local market and offer protection to the principal money has seen the fund gain high returns.
She said SSPN earned an investment profit totalling RM237.42 million in 2020 as compared to RM205.28 million the year before (2019).
"SSPN deposits rose to an all-time high of RM1.99 billion last year from RM1.37 billion in 2019.
"As of Dec 31, total deposits for SSPN stood at RM7.88 billion. Congratulations to the PTPTN management for its excellent performance despite the pandemic and economic slowdown," she said.
Noraini said the 4 per cent dividend is a very competitive rate.
She added that the ministry will continue to support PTPTN in any noble effort to improve the SSPN savings plan, or any initiative which reduces dependence on education loans.
"As the country's main education fund, PTPTN's excellent achievements should be praised and acknowledged. May the culture of saving money continue to flourish in our circle of society for a more secure future," she added.