How long will it take to open a PRS account in PPA website?

No. Just sent the documents needed to AmBank last month. Waiting for approval.

I paid 100.50, and why the balance became 104.02?

The fund she chose for me is AmPRS- Moderate Fund. If I want to buy AMPRS- Tactical Fund. Can I ask the fund manager to add it?

can buy new fund via PPA?

You mean this one. Thanks for your advice.

You are forgetting if you withdraw at a loss = a loss.

It will be interesting to see how many will still contribute to PRS post 2020 (I believe it is the last year for relief, barring any extensions, or corrections - in case I am mistaken).

I for one, will not as the main purpose is to gain from tax savings. The moment this no longer exists, there will be no significant incentive to even consider this medium.

Their returns (in my case) have been super pathetic and I have tried all permutations - aggressive, moderate, conservative. All super koyak - putting the money in FD even at 3% per year is better. And I have been investing since 2012.

However, I will take advantage of the RM 1,500 and then retop up another RM 1,500 for the final time this year.

Can I top up 3k into PRS, and then withdraw all from account B during the same year? Am I still entitled for the tax relief of 3k?

I just called up PPA minutes ago, the CS agent confirmed with me that withdrawal has no effect on your contribution for tax purposes. Meaning even you withdraw RM1500, provided in this year you contribute, you can still claim the tax deduction based on your current year's contribution.

my contribution was solely to benefit on the tax deduction as some said. my current scenario;

PRS A (acct B) RM 2000

PRS B (acct B) RM 800+(new, from August 2019)

Planning to top up RM2400, to make up to RM1500 in PRS B so that i can withdraw comes August 2020
Withdraw from PRS A comes May
Top up RM600 by year ends to make up my total contribution of RM3000 for tax purposes for YA20

just so you may want to consider. does it mean 1 year from last topup or 1 year from 1st topup?

Note:
One of the prevailing terms and conditions for pre-retirement withdrawal from sub-account B is still applicable, whereby such withdrawals may only be made from a PRS fund one year after enrolment.

https://www.ppa.my/wp-content/uploads/2020/...Penalty-new.pdf

I see, I have one existing PRS fund with FSM.

So I should top up to that fund right? If I top up to new fund I won’t Be able to withdraw this year.

What is the withdrawal procedure like? Do via PPA or need to go back to the fund provider? Any idea?

this is only for those who buy directly from them right? if buy via fsm or eunittrust, got to go through them

yup, for affin hwang when i emailed them few weeks back they ask me to go through the platform where i bought the fund - unfortunately got to send it hard copy.

maybe i shall shoot principal an email.

FAQ on PRS Pre-Retirement Withdrawals that are Exempted from Tax Penalty 
6. Can I request to withdraw all the amount in sub-account B from one or more PRS Providers?   Yes, members may request to withdraw all amounts from sub-account B of more than one PRS Provider. However, for withdrawals above RM1500, the balance will attract an 8% tax penalty
That mean withdraw below RM1500 is zero tax penalty right?

then can withdraw and throw back again this year …?

wanted to redeem account B, but Affin Hwang just had dividend distribution on 15 April. how long will it take for it to enter my account?

yup

seriously? but my total amount of units at the end of 2019 based on the pdf affin hwang sent is still the same as now.

you are right, i checked from ppa website after u showed me that. but not reflected yet in FSM where i bought my PRS. should be soon then.