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 Private Retirement Fund, What the hell is that??

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GrumpyNooby
post Oct 31 2020, 10:59 AM

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QUOTE(kart @ Oct 31 2020, 10:48 AM)
GrumpyNooby

I get your idea.

My point is that if we can apply for withdrawal in Principal website https://online.principal.com.my/ecustomer_enu/start.swe?, we do our part by typing the withdrawal amount, fund name, savings account number, bank name, directly into their system.
If that had been possible, Principal Customer Service Executive would not have to read the withdrawal forms sent by investors, and then manually typing the information in their system.

Many of us are sure that as investors, we do not mind doing our part, as long as it speeds up the withdrawal process.
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I believe a lot of PRS providers are not "enabled" to handle e-withdrawal since pre-retirement withdrawal for certain purposes and PENJANA withdrawal are introduced this year.

Since PPA needs everything to be B&W either via scanning or faxing, it is not easy for small fund managers to enable e-withdrawal for compliance.

Of course, I would prefer to have e-withdrawal avenue too but given how things pace in Malaysia, it could months or even years to get such facility ready. laugh.gif
GrumpyNooby
post Nov 5 2020, 09:19 AM

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QUOTE(kimi0148 @ Nov 5 2020, 09:14 AM)
Good Morning Folks, I have a affin hwang direct(AH) PRS account and fundsupermart, for FSM i deposited earlier so the annual RM8 is paid, however, for AH i just deposited first time this year and they charge me RM8 again, is this normal?
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Earlier is when? In 2020?
GrumpyNooby
post Nov 5 2020, 09:30 AM

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QUOTE(joedpa82 @ Nov 5 2020, 09:21 AM)
i think maybank got. private retirement scheme.

your money instead of going to EPF goes to bank your choosing with its own retirement scheme/
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Maybank product is PRS or deferred annuity product?
GrumpyNooby
post Nov 5 2020, 10:00 AM

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QUOTE(AgentVIDIC @ Nov 5 2020, 09:51 AM)
bro this one how to get:

3. Get Touch N Go E-wallet RM40.
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Details in here:
https://www.fsmone.com.my/funds/research/ar...Insurance=false
GrumpyNooby
post Nov 6 2020, 09:52 AM

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QUOTE(kimi0148 @ Nov 6 2020, 09:51 AM)
yes 2020
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Please check with FSM why there's a double charge of RM 8.
GrumpyNooby
post Nov 6 2020, 05:11 PM

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QUOTE(cempedaklife @ Nov 6 2020, 05:09 PM)
pelepasan cukai 3k for PRS macam extended to 2025.
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This is like add 4 years only. sweat.gif
GrumpyNooby
post Nov 6 2020, 05:19 PM

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Personally I think it won't give much boost to encourage people into the scheme.
They should have also double the tax relief amount.
GrumpyNooby
post Nov 6 2020, 05:23 PM

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QUOTE(cempedaklife @ Nov 6 2020, 05:21 PM)
in fact, for those that not money literate, i dont even think they bother with this scheme (for pelepasan cukai of course).
but for us, we take whatever that benefits us  whistling.gif
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Extension of the tax relief will happen and I have foreseen this since few years back but if they want more people into the scheme, they need increase the tax relief amount like SSPN.
GrumpyNooby
post Nov 6 2020, 05:32 PM

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QUOTE(honsiong @ Nov 6 2020, 05:22 PM)
Funny thing is it benefits the rich people more, those that save more because of their tax bracket and those that have more disposable income.

It seriously doesn't help the B40 group.
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QUOTE(cempedaklife @ Nov 6 2020, 05:28 PM)
b40 has a lot of other helps already. which is off topic here  laugh.gif
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I won't say benefiting rich people.
I would use financially literare people.
Unless, you're at T5 or T10, even middle class and white collar groups are not spared from financial crisis such as the current pandemic.

This post has been edited by GrumpyNooby: Nov 6 2020, 05:49 PM
GrumpyNooby
post Nov 7 2020, 11:09 AM

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QUOTE(cempedaklife @ Nov 7 2020, 07:56 AM)
PRS in FSM dont have cover US and China kan?
Was thinking to expand/expose to these region but after a few searches over then month, macam tak ada.
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For China, there're Asia ex Japan funds that has exposure.
Those Affin PRS funds feed that into these Asia ex Japan funds should have China exposure.

This post has been edited by GrumpyNooby: Nov 7 2020, 11:09 AM
GrumpyNooby
post Nov 7 2020, 03:05 PM

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QUOTE(Murasaki322 @ Nov 7 2020, 03:03 PM)
Hi all I am new to this PRS. I wanted to join mainly for the sake of tax relief, and some returns if favourable. I have enrolled into Affin Hwang PRS Moderate via PPA website and yet to receive anything from them. Thought of a few questions if anyone could help out.

1. What is the difference between joining through PPA and through FSMOne?

2. Is physical mail the only way to enrol through FSMOne?

3. How can I move my holdings from PPA to FSMOne if my application goes through?

Thanks in advance!
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1. No difference.

2. No.

3. Can. Just contact CS to enable viewing of PRS fund from FSMOne (If I remembered correctly).
GrumpyNooby
post Nov 7 2020, 03:16 PM

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QUOTE(Murasaki322 @ Nov 7 2020, 03:12 PM)
Thanks for the quick and concise response!

2. Is it do-able digitally? I found from FSMOne website requires forms to be submitted to “FSMOne Operations Dept”, Level 28, Menara Standard Chartered, No.30, Jalan Sultan Ismail, 50250, Kuala Lumpur.” Except for this article

3. Do you mean Customer Service of PPA or FSMOne? Would like to know more about this. Basically FSMOne acts like a platform for fund/units purchase, so can I top up my PRS fund via FSMOne, which is enrolled through PPA?
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2. Contact FSM CS since it's CMCO now. Maybe they accept scan in or fax in. Those physical documents sent to them is to complete the registration.

3. FSM CS. Once it's "viewable" in FSM, you can top up from FSM. FSM is just middleman. PPA is regulator & middleman.

This post has been edited by GrumpyNooby: Nov 7 2020, 03:17 PM
GrumpyNooby
post Nov 7 2020, 04:46 PM

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QUOTE(cempedaklife @ Nov 7 2020, 04:35 PM)
Remember it only works on mobile
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What works on mobile only? hmm.gif
GrumpyNooby
post Nov 8 2020, 04:53 PM

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Last time I sent in my documents using Pos Express. laugh.gif
GrumpyNooby
post Nov 10 2020, 09:13 PM

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QUOTE(TechnoG @ Nov 10 2020, 09:11 PM)
I applied for Mutual PRS via PPA website on 24th Oct and up till now yet to receive any PPA number to log in their website.  sweat.gif
mutual did email to confirm they have invested my funds but I have no clue how do I log in to PPA website without PPA number and mutual website (PMO) without any login details.....
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User ID is PPA<New NRIC number>

Perform First Time Login:
https://www.prsmember.my/first-time-login/
GrumpyNooby
post Nov 11 2020, 12:41 AM

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QUOTE(low yat 82 @ Nov 10 2020, 10:03 PM)
Hows u guys prs doin. Mine keepin inside for income tax rebate since 2015.

user posted image
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QUOTE(low yat 82 @ Nov 10 2020, 10:09 PM)
Haha. Ya. But hopin for d best. Mayb will change to less agressiv prs
Haha. Ya.
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Which PRS fund is that?
GrumpyNooby
post Nov 11 2020, 10:28 AM

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QUOTE(low yat 82 @ Nov 11 2020, 10:27 AM)
Can see but cannot take. Haha. Hope when near pension,  it didnt go to -ve profit.
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You can still take out under PENJANA and pre-retirement scheme.

This post has been edited by GrumpyNooby: Nov 11 2020, 10:28 AM
GrumpyNooby
post Nov 11 2020, 10:35 AM

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QUOTE(low yat 82 @ Nov 11 2020, 10:33 AM)
Ooo.. From account B.  Macam banyak kerja for 1.5k. Ke senang je
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Well, there's no e-withdrawal yet like iLestari.
So you judge yourself. tongue.gif
GrumpyNooby
post Nov 11 2020, 02:34 PM

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QUOTE(ironman16 @ Nov 11 2020, 02:33 PM)
different ppl got different strategy or view , just try below link for the recomend

https://www.fsmone.com.my/funds/research/recommended-funds

Principal PRS Plus Conservative - Class C
Principal PRS Plus Moderate - Class C
Affin Hwang PRS Growth Fund

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This configuration is covering all the risk spectrum from low to high. dry.gif
GrumpyNooby
post Nov 11 2020, 02:38 PM

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QUOTE(ironman16 @ Nov 11 2020, 02:36 PM)
just minta dia kaji sendiri ma, different ppl different style
nanti recomend salah kena marah pula

jika takut n x pantai pilih just take yg moderate lo
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So you added your REIT?

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