1. Yes, it does matter, because the chosen UT or fund that dictated how the return may be.

I am so over my head on this 1, so hopefully fellow forumers can assist me [and others who are like me] for better understanding :

[1] How long is the commitment (e.g. when can I reap the benefit of my contributions ? I suppose it is based on the retirement age as per the statutory law in Malaysia ?
PRS objective are helping to accumulate retirement savings, contributions to the PRS are also split and maintained in two sub-accounts, i.e. sub-account A which comprises 70% of contributions and sub-account B which comprises 30% of contributions. Full withdrawals from the PRS account can only be made upon the satisfaction of certain criteria* and partial-withdrawals can only be made from sub-account B subject to restrictions and penalties**.

*Reaching the prevailing retirement age, death or leaving Malaysia permanently.
**Members may only withdraw the amount in sub-account B once a year. The withdrawal amount is subject to a pre-retirement withdrawal fee of RM25 and also a tax penalty of 8%. The tax penalty will be deducted before the balance is credited to your account. The first pre-retirement withdrawal is allowed only after a year from the date of the first contribution by the PRS contributor. Subsequently, pre-retirement withdrawals will be allowed once in every calendar year.
"pls note that...there may not be "any benefits" available during the intend retirement age withdrawal, "IF" the funds are performing badly for some times prior to the withdrawal age....this investment is NOT risk free".
When you invest in a PRS Fund, there is investment risks involved. There are general risks which you will be exposed to when investing in any of the PRS Funds as well as specific risks associated with the investment portfolio of each PRS Fund. Therefore, before making an investment decision, you should consider the different type of risks that may affect you and the Fund. These risks are disclosed in the PRS Scheme Disclosure Document or Product Highlights Sheet.

[2] What is the minimum contribution, and what is the frequency [monthly, annually?]
Minimum initial contribution is RM100 and minimum subsequent contribution is RM50 per fund. frequency...up to your likings and convenience

Thanks for the elaborate reply, much appreciated!
On the phrase that I have put in bold, the 'retirement age' is as per the statutory law in Malaysia, or is it determined by the prs ?

^
Which means, UT buys counters in BSKL, prs buys UT funds?
Or you mean to say that prs works the same way as other UT funds?


On a separate question;
So if I got this correct, upon reaching retirement, the prs will disburse money in lump sum to the depositor? i.e. the same way as epf ?
Or is it like a pension scheme, whereby the depositor will get certain sum of money disbursed until he/she dies ?

As a member of a Private Retirement Schemes (PRS), when can I make full withdrawal from PRS?

Currently, members are eligible to make a full withdrawal from the PRS upon reaching the age of 55. However, the SC may specify any other age from time to time. Members would be informed if any changes are made to the current specified age.
Although lump sum withdrawals are permitted, members are encouraged to still continue maintaining regular contributions.
(this means they don't auto disburse money in lump sum to the depositor, you need to do withdrawal/sell your PRS fund manually...just like EPF)
http://www.ppa.my/prs/prs-faqs/

Yes, it depends on the chosen fund, if local equities fund, they buy KLSE listed shares, if global equities then overseas shares.

PRS is just a name, or scheme, that lock up your fund that invested in UT, that's only allowed you to withdraw when your retired time, while enjoy some tax relief from it.
Other than that, it has little different with ordinary UT.

Is it insured by PIDM ?

No.

Only deposit, FD and insurance are protected by PIDM.

Ah, not insured.
That in itself is a risk to take into account.

The ability for the plan to remain in force for years to come, i.e. 3O-4years down the road..

It's not even capital protected or guaranteed like most of the unit trust or mutual funds.

There r some UT products out there which indirectly offers capital protection

Structured wealth products? Saving plan? Closed fund?

Nope
UT products offer by ASNB

CAPITAL PROTECTED FUNDS
YOU CAN MAKE THEM YOURSELF!
https://secure.fundsupermart.com/main/resea...5?articleNo=847

is "Capital Protected Funds" = Inflation Protected Funds ?
What is the purposes of your investments?
Protect your capital? or Protect your available money against inflation? or Maximising the efficiencies to maximise the ROI?

Never forget the below (just some of the longer lists)
Does the product I am considering meet my investment objective and needs?
What is my investment objective? For example, is it to accumulate funds for my retirement or for my children's education? How much funds do I need and when do I need them?
How much return on investment do I need, after taking into consideration the effects of inflation, to meet my investment objective?
Am I comfortable with the level of risk that comes with the product I am considering? How much losses am I prepared to incur? What are the potential losses in the worst-case scenario for the product I am considering?

There is no one best investment product for everyone. What is important is to determine your investment objective and needs, then assess which product is suitable for you.

Do not rush through the process. Take time to understand the product and consider whether it meets your needs before you finalise your decision. Read all documents and forms before you sign anything. Never sign blank forms. Remember that you may have to bear fees, expenses and/or investment losses if you change your mind about purchasing the product, or decide to sell it or switch to another product prematurely. It may also be too late to reverse your purchase decision if you subsequently find that the product is not suitable (e.g. the investment risk is higher than what you are prepared to take, the protection benefits provided are not what you need).


This post has been edited by T231H: Sep 23 2015, 08:12 AM

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Since PRS is a long term UT, it's best if we don't put all in one basket. And also go for those who give good returns to pressure other provider to work hard and push hard then we can have more secure and better return. Let the market gets more competitive.

Haha well said

didnt invest direct with them..

Private Retirement Scheme (PRS) Promotion
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PRS FSM

How does one appoint a nominee and what does happen if one passes away before retirement, what happens to one's fund?

while waiting for more value added responses...I found this while googling....
hope it helps...
What happens to the PRS investments upon sudden death?
Beneficiary nomination is not permitted under the law for PRS and in the event of death, the PRS monies will return to the estate of the deceased member to be distributed in accordance to the instruction of the probate court.

What documents are required for withdrawal due to death?
For pre-retirement withdrawals due to death or permanent departure from Malaysia, the following information and a copy of the following supporting documents must be sent to the PRS Provider as soon as reasonably possible. Prior authorization by the PPA is required for pre-retirement withdrawals due to death.
http://www.ppa.my/prs/about-prs/prs-scheme-features/