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Private Retirement Schemes (PRS) is a voluntary long-term savings and investment scheme designed to help you save more for your retirement. PRS seek to enhance choices available for all Malaysians whether employed or self-employed to.
Private Pension Administrator Malaysia (PPA) is the Central Administrator for the Private Retirement Schemes (PRS).
Frequently Asked Questions (FAQs) about savings in Private Retirement Schemes (PRS).
Contributing in PRS may be one of the best things you can do for your retirement. Here’s why: Designed for retirement. PRS was established with the main aim of helping you accumulate more savings for your retirement. Affordable savings.
PRS Online is a service developed by PPA for you to save for your future in PRS – the easy, convenient and secure way. With PRS Online service, you can enrol for a PRS account or top up your PRS contributions anytime, anywhere. Enrol for a PRS account in a few simple steps.
Nov 5, 2024 · Top 8 Funds in 5-Year Annualised Return: *The funds are ranked by their 5-year annualised return. Top Performing Fund by Provider in 1-Year Return: *The top fund of each Provider is selected for display in this table. The funds are then sorted alphabetically by Provider.
Hence, you just need to save an additional 10% of your income every month in the Private Retirement Schemes (PRS), a voluntary long-term saving and investment scheme designed to help you save more for your retirement. When you save 10% or more of your salary, you are paying yourself forward for your retirement.
Hence, you only need an additional 10% of your monthly income in Private Retirement Schemes (PRS) to get more out of life when you retire. The amount each person needs for retirement may vary depending on the individual’s lifestyle.
The PRS Tax Relief was specially introduced to encourage you to save more for your retirement. The good news is an individual who makes contribution to his or her PRS funds is allowed to claim personal tax relief of up to RM3,000 by the Inland Revenue Board of Malaysia.
The Private Retirement Schemes are offered by PRS Providers who are approved by the Securities Commission Malaysia. The nine (9) available PRS Providers are:
