Another ATH as of 24/11/2020 with NAV = RM 1.2471

Taman Tun Dr Ismail in KL.

Counter? Or just a collection point?

Since 25/11/2020:

https://www.fsmone.com.my/funds/tools/forms

Only for Affin Hwang, Kenanga and Principal PRS Funds

https://www.fsmone.com.my/funds/research/ar...=11419&isRcms=N

If you buy from a new PRS provider that is not in your PRS portfolio (in PPA database), you still need to fill in the forms.

Not sure if that is also applicable for the e-forms for that 3 particular PRS providers.

This post has been edited by GrumpyNooby: Nov 27 2020, 03:10 PM

You want to open PRS account for the first time?

It's mobile web (not mobile app) based account creation.

https://www.fsmone.com.my/funds/research/ar...=11419&isRcms=N

This post has been edited by GrumpyNooby: Dec 1 2020, 12:55 PM

That link is meant for first time PPA account opening + PRS fund buying with e-documents/forms.
Not meant for existing PPA users.

Next year buy either one of this:

1. Manulife PRS Asia-Pacific REIT - Class C
2. Manulife Shariah PRS - Global REIT - Class C

I believe physical form is needed.

But you may try this e-Form for Affin Hwang PRS funds:



https://www.fsmone.com.my/funds/research/ar...=11419&isRcms=N

This post has been edited by GrumpyNooby: Dec 1 2020, 08:52 PM

Payment matters not form arrival I guess:



If your payment reach them before cut-off time, it'll be using tomorrow NAV.



This post has been edited by GrumpyNooby: Dec 1 2020, 08:57 PM

FSM will do it for you.

The taken out RM 1.5k is going back to buy PRS fund with additional RM 1.5k to make up for the RM 3k for tax relief.

Agreed with you.
But from I heard, the withdrawal is very troublesome as there's no e-withdrawal like EPF.
You need to deal with the respective PRS provider and submit physical original copy of the forms.

As far as I know upon reading the FAQ from PPA portal, PPA won't facilitate the withdrawal. You deal it yourself with PRS provider.

Also, I don't think there's sell or withdrawal feature at PPA portal.

This post has been edited by GrumpyNooby: Dec 2 2020, 02:31 PM

Switching cannot get tax relief.

If you chargeable income is sizeable, then the amount of tax saving is not.

Here's an expected tax saving according to tax brackets:
https://www.fsmone.com.my/funds/research/ar...o=2965&isRcms=N

Refer to Point (3):

3. Below is an example on tax relief.
Let’s say you are an unmarried individual with a taxable income of RM118,000 for Y/A 2012. Assuming that you have no tax exemptions and after deducting tax reliefs comprising of RM9,000 personal relief and RM6,000 EPF relief, you arrive at your chargeable income of RM103,000. Based on the Inland Revenue Board of Malaysia’s scale rate, your tax payable would be RM15,105.

If you had contributed to a PRS for the amount of RM3,000 and above during Y/A 2012, your tax payable would be reduced to RM14,325. That’s a tax savings of RM780!

1. Anytime before retirement age -> pay 8% for tax penalty
2. Pre-retirement withdrawal under PENJANA -> up to RM 1500 from Account B per PRS provider (expiring 31 December 2020) subject to certain conditions
3. Pre-retirement withdrawal for housing and healthcare -> like EPF Account II

(2) and (3) exempted from the 8% tax penalty.

This post has been edited by GrumpyNooby: Dec 3 2020, 09:56 PM

Sorry, corrected.
(2) expires by 31/12/2020