Yes there will be prospectus as Hwang just launched this PRS, official selling date should be 22Nov or around that week.
If you interested in opening account, steps are simple. Open a PPA account, RM10 will be charged by goverment, then annual feed RM5-8(only applied to if you invest in your account for that particular, no invest=no RM8 charges)

Well, to me these RM8 RM10 is not the big issue because what we really want to see is the performance of the fund, rite?

3 Plans will be launched, Conservative, Balance, Growth. If you are the type of not really can take high risk, go for convervative plan, as most of the money will be invested in bond money market, but the return not high lo, around same with EPF. Balance fund will be invest more aggresively in stock market, but not as aggresive as Growth Fund. Each of the year, you will be given one chance to switch(let say from Balance Fund to Growth Fund) for free, so if you think the stock market will shoot up, of course you can switch to Growth Fund anytime.

And the most important thing we all concern is the charges. I believe HwangDBS is the only PRS provider that do not charge any sales charge, 0% lo Retirement scheme should not be charge ma, as the money will be save for our retirement, why charge us like unit trust, 5.5% =.=

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Added on November 6, 2012, 5:54 pmDirect deduct for your PPA account, RM8 only if you have any transaction for that particular years, if no transaction no charge lo. but most of the people will choose to invest monthly as the price fluctuated, averaging up/down the price is the best strategy in this case.

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Added on November 6, 2012, 5:55 pmBelow 55 also can use this to enjoy tax relief la bro. if you fall in maximum tax bracket you can save up to RM780 just for tax.

This post has been edited by im.thetrader: Nov 6 2012, 05:55 PM

Already got more better info in this PRS? Any place to read up?

SC nod for CIMB-Principal funds

CIMB-Principal Asset Management Bhd has received Securities Commission (SC)'s approval for its Private Retirement Scheme (PRS) funs, CIMB-Principal PRS Plus and CIMB Islamic PRS Plus.

Read more: SC nod for CIMB-Principal funds http://www.btimes.com.my/Current_News/BTIM...l#ixzz2Bz3T8qWA

The concept is the combination of Unit Trust and EPF. the actual return of your retirement fund is based on where your money invest in. And also who manage the money. Look into the past performance of the fund manager and their strategy before you make contribution lo~

So many new tax relief for YA-2012, they are

i) Annuity = RM 3,000.00

ii) PRS = RM 3,000.00

iii) SSPN = RM 6,000.00

Tax relief galore for this baget, Najib is sure feeling the heat.

Now, we need to let Ah Jib Gor keep his job while letting the opposition remain strong. Ultimately, the winner is us, the tax-payers.

I like this two party system, I like it very much.

Xuzen

Xuzen-san, ano... i think Annuity & PRS same category leh, thus net net can claim $3K tax relief only. Please correct me if i'm mistaken.
SSPN is another different category
Thus, i'll be getting $9K tax relief

IF PRS & Annuity is DIFFERENT category, i'll buy into PRS too heheh. I'm hoping i read wrong on the tax relief categorization of i) & ii)

yes, annuity + PRS max is 3k tax relief...

Ah.. danke JutaMind

DAGNABIT! Jib Kor.. was hoping for another instant $700+ tax relief

This post has been edited by wongmunkeong: Nov 17 2012, 10:02 AM

i though SSPN still RM3000 for 2012 budget and only 2013 is RM6000.

http://forum.lowyat.net/topic/2304408/+0#entry55568473

Go to SSPN website under FAQ to verify this info.

I got to know about it from the Nov-12 Personal Money magazine.

Xuzen

Dont just be happy with scraps from the table when you are entitled to so much more.

This post has been edited by cybermaster98: Nov 21 2012, 09:55 AM

None of the contributions to the PRS is capital guaranteed rite?

Not guaranteed

Rm6,000

http://www.ptptn.gov.my/web/english/savings/advantages

If you are looking for capital guaranteed annuity which is also entitle for the tax relief of RM3000, Great Eastern do have it, I'll be honest enough to tell you the interest rate is roughly 3.5% based on my own calculation.

If Great Eastern dare to guarantee the return then I'll be very surprise, even CIMB bank said they can't guarantee anything, ' time will prove' this is what they said. Even if the fund 100% dump in money market and bonds, how sure are you these bond issuer will not default? May be Great Eastern have a few billion Ringgit in extra ?

Because great eastern didn't promise sky high return, amere 3.5% for 20 years can get from a bbasic bond or even FD. unless someone told you about 5% then you should be surprise. This annuity plan do not have any cash bonus or survival benefit or anything non-guarenteed, means at the end of the day, you will be expecting nett nett 3.5% with no potential of extra and no potential of less. Like FD. But it is eligible for the tax relief.

which mean 3.5%, no more no less? only 3.5% guaranteed?

Yes, u may use financial calculator or excel file to calculate the IRR.