PRIVATE RETIREMENT SCHEME (PRS)
PRS is an investment scheme that facilitates the accumulation of retirement savings through voluntary contributions. It is a voluntary scheme for all individuals who are 18 years old and above.The PRS is designed to complement the Employees Provident Fund (EPF) and is regulated by Securities Commission Malaysia (SC).
New way to boost retirement savings
It is an additional way to boost total retirement savings, whether you are an Employees Provident Fund (‘EPF’) member or not.
Latest incentive announced by Government
A one-off incentive of RM1000 to young individuals who contribute to a PRS Youth Incentive
Enjoy additional tax savings
Enjoy up to RM3000 per year personal tax relief on top of the RM6000 per year tax relief for the mandatory retirement savings contribution and life insurance premiums.
Start Saving for Tomorrow, Today with our approved PRS Providers
Affin Hwang Asset Management
AIA Pension and Asset Management Sdn Bhd
AmFunds Management Berhad
CIMB – Principal Asset Management Berhad
Kenanga Investors Berhad
Manulife Asset Management Service Berhad
RHB Asset Management Sdn Bhd
Ready to Secure Your Retirement Years ?
What are the Eligibility Requirement?
What are the Charges?
Regulated by the Security Commissions, the Private Pension Administrator (“PPA”) aims to promote efficiency and convenience to the PRS members through its functions, which includes :
- To provide a one-stop administrative framework for the growth and operation of the PRS landscape.
- To facilitate all the inquiries and transactions requested by the members.
- To provide the PRS related information in order to create awareness and educate the public on the PRS.
Plan Ahead for Your Golden Years with Private Retirement Scheme
Sign Up today and get tax relief up to RM 3000 per annum.
All contributions made to PRS will be split and maintained in sub-accounts A and B as follows
- 70% of all the contributions made to any fund within the scheme to be held in sub-account A and cannot be withdrawn until the retirement age
- 30% of all the contributions made to any fund within the scheme to be held in sub-account B and can be withdrawn once a year upon payment of 8% tax penalty.
- The value of sub-account A and B can increase or decrease according to the unit price.