National Scheme For Malaysian To Save More For Retirement.

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Private Retirement Scheme (PRS) was established as a national scheme for Malaysians to SAVE MORE for their retirement. PRS forms the third pillar of Malaysia's pension framework ( after KWSP and PENSION scheme) with the objective of improving living standards for all Malaysians at retirement through additional savings of funds.

Designed for retirement.

Savings and Investment scheme designed to help you save MORE for your retirement. General consensus understanding reflects that individual need about 33% of their total income to be allocated regularly for retirement. Based on this, EPF would have covered 24% ( 13% being employer's share + 11% of your own share). This lead us to a shortfall of 9% if the consensus is to be taken right. A PRS scheme is an opportunity to fill in the shortfall.

Affordable savings.

Affordable for you to save and easy for you to invest your funds for your retirement. All it takes is a minimum of RM 100 to purchase a fund.

Choice of investment.

PRS provides you the choice of PRS Providers and funds to invest your contribution with the flexibility to change your PRS funds if necessary to reflect your changing retirement needs.

Regulated framework

Safeguarded retirement scheme regulated by the Securities Commission Malaysia (SC). All PRS Providers and their funds are required to be approved by the SC before they can be offered to you. In addition, when you invest your savings in your PRS funds, you will also have the fund trustee to safeguard your PRS contribution.

Tax and youth incentives.

Contributors of PRS will receive tax relief of up to RM 3000 per year ( until 2021) for their contributions in PRS. Further, Malaysians aged between 20 to 30 years old who contribute a minimum RM 1000 to a single PRS fund in a year will receive a one-time Government contribution of RM 500 in units into their PRS accounts (available until 2018).

Visit www.ppa.my for more information.