RM500 matching grant (GS500) to be given free to SSPN new deposit in 2018 for primary school beneficiaries

On top of the recent good news about SSPN-I tax relief of RM6000 max has been extended until year 2020, the National Education Savings Scheme (Skim Simpanan Pendidikan Nasional, SSPN-i) setup by the National Higher Education Fund Corporation (Perbadanan Tabung Pendidikan Tinggi Nasional, PTPTN) for the purpose of higher education has on 2 January 2018 announced another good news for all existing and new SSPN depositors whose beneficiary is studying in primary school.

The good news is...

The government has allocated a fund for the first 500,000 existing and new SSPN depositors who deposited at least RM500 new fund into their account during 2018, whose beneficiary is studying in primary school. These accounts will received a free matching grant incentive of RM500 in their SSPN account (Insentif Geran Sepadan Percuma RM500 a.k.a. GS500).

 

The terms and conditions are for this GS500 are as follow:

• This RM500 free matching grant incentive is only allocated to 500,000 eligible SSPN accounts on and first come first serve basis.
• The age of the beneficiary of the SSPN account is between 7 to 12 years old or is studying in primary school in Malaysia.
• New fund of RM500 must be deposited into the SSPN account between 1 January 2018 to 31 December 2018 (deposit - withdrawal >= RM500).
• This RM500 free matching grant incentive can only be withdrawn after the beneficiary has reached the age of 18 years old, or during closure of account due to either the depositor or beneficiary has passed away.
• This RM500 free matching grant incentive cannot be used for tax relief.
• This RM500 free matching grant incentive will be automatically given to the eligible SSPN accounts. There is no form to be filled up.

Fund can be deposited into existing SSPN account using FPX real-time online payment after login into the online SSPN-I Statement of Account website.

Source of reference:

• Simpanan RM500 Percuma, RM500 Untuk 500,000 Pelajar

 

 

PayNet Instant Transfer fee for individual and SME to be zerorized by 1 July 2018

I remember that during early December 2017, Bank Negara Malaysia (BNM) had announced a fee waiver of 53 sen (with GST) of PayNet Instant Transfer fee to be effective in 2018. PayNet is a merged entity of MyClear and MEPS.

Now we have already reached the year 2018, but when I checked on the banks' online transfer function, the 53 sen Instant Transfer fee (with GST) is still there. Am I missing something?

Yes! The effective date of this Instant Transfer fee waiver is on 1 July 2018, so there are a few more months to go.

In addition, I have found out that there are conditions for this Instant Transfer fee waiver as below:

• Only bank account belonged to individual and SME can enjoy the fee waiver. The waiver is not applicable to bank account of big corporations.
• To enjoy the fee waiver, the maximum amount of money in the transaction should limited to RM5,000 only. If you want to transfer more than that using Instant Transfer, and yet want to enjoy the fee waiver, perhaps can break the amount down and perform multiple transfers, with each transaction not exceeding RM5,000.

My SUM 0026 digital programmable timer 3-pin plug socket

Electrical programmable timer plug socket is very useful for you to automate the time to turn off a particular electrical/electronic appliance, and the time to turn it on again.

Some of its usage scenario including:

• Switching off your WiFi at mid-night and switching it on again in early morning.
• Switching off your television and set-top-box at mid-night and switching them on again the next morning.
• Switching on water sprinkler system in your garden at certain hour everyday, and switching it off again after some times.
• Switching on night lights at night and switching them off during day time.
• Charge the BC-01 multimedia Bluetooth speaker with alarm clock and FM radio for 2 hours everyday.

Typically, there are 2 types of electrical programmable timer plug socket: mechanical and digital. Mechanical programmable timer is usually cheaper, but has limitation of 24 hours single setting only. Digital programmable timer such as this SUM 0026 supports 7-days on/off setting and can accommodate up to 10 different on/off settings.

This SUM 0026 digital programmable timer 3-pin plug socket is certified by SIRIM with a SIRIM sticker.

It has an internal NiMH 1.2V battery which is able to remember its clock time and settings for more than 100 hours even when their is no power supplied to the unit.

Before you can use it for the first time after unpack, you need to plug it in an electrical socket and charge its internal battery for about half a day. Initially, you might see its LCD display showing distorted characters. That is normal. After some times, the unit will function well with the correct info display.

After that, you need to reset its memory by pressing the small round Master Clear button with a sharp object for a few seconds, then release it.

Then, you need to set its clock time:

• Press and hold the Clock button.
• With Clock button pressed, press the Week button again and again until current day is shown.
• Continue the same step with the Hour button and Minute button.
• With Clock button pressed, press the Timer button to toggle between 12 hour and 24 hour clock mode.

To set a timer setting:

• Press and release the Timer button. The LCD will show ON_1 for the "switch on" time for 1st set of setting.
• Press the Week button again and again to set the day or block of days for timer on.
• Repeat the same to set for Hour and Minute.
• Press and release the Timer button. The LCD will now show OFF_1 for the "switch off" time for 1st set of setting.
• Set the timer off settings for Week, Hour and Minute respectively.
• Note: timer on can be either earlier or later than timer off.
• Press the Clock button to exit from timer setting mode.

To use the timer function, you need to press the On/Auto/Off button until you see Auto displayed on the screen. When it is in On position, device plugged into it will always turned on; when it is in Off position, device plugged into it will always turned off.

There is a Random button, which will randomly pick a time between 6pm and 6am.

Note that this SUM 0026 digital programmable timer 3-pin plug socket has a maximum load of 13A and 3.12 kW.