See your tax relief and savings balance

SSPN education savings

Calculate your SSPN (Skim Simpanan Pendidikan Nasional) tax relief and projected savings balance for your child's education.

Formula

tax savings = min(net deposit, RM8,000) × your marginal tax rate · balance = annual deposits grown at the expected dividend rate over the years saved

Assumptions

• The tax relief is capped at RM8,000 of net deposits per year (per parent/guardian) — currently in effect for years of assessment 2025 to 2027.
• Assumes the same net deposit amount is saved every year — real contributions and withdrawals typically vary.
• SSPN's annual dividend is declared by PNB and has historically been lower than EPF's — the rate you enter is an assumption, not a guarantee.

Frequently asked questions

Who can claim the SSPN tax relief?
A biological parent, adoptive parent, or legal guardian saving into a Simpan SSPN account for their child. From YA2025 only one parent may claim per child, so two parents cannot both claim for the same child. Withdrawals made for higher education do not reduce the net deposit figure the relief is based on.

What does "net deposit" mean?
It's your total deposits for the year minus any withdrawals you made during that same year — only the net amount saved counts toward the relief, not gross contributions.

How does this compare to EPF's dividend?
SSPN dividends, declared annually by PNB, have historically tended to run lower than EPF's — this calculator lets you enter whatever rate you expect rather than assuming they'll match.

Sources

• PTPTN — Education loan repayment
• LHDN — Schedule of Tax Rates for Resident Individuals