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 Private Retirement Fund, What the hell is that??

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mephyll
post Jun 21 2018, 09:28 AM

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QUOTE(David83 @ Jun 20 2018, 10:50 PM)
If no contribution made to that particular PRS fund in a calendar year, no AF of RM 8 will be charged.
You can focus on PRS fund A this year and another PRS fund B next year.
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QUOTE(polarzbearz @ Jun 21 2018, 06:32 AM)
Very subjective question laugh.gif
For me rm8 is worth it for diversification, and since I'll stop contributing to my cimb prs so it'll be one fund charge soon next year (this year ill have to bite the bullet and pay rm8x2)
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What i found in FSM Q&A:

Q: WHAT ARE THE CHARGES TO APPLY FOR PPA ACCOUNT?

A: For first-time PPA account application, there is a PPA account opening fee of RM10 which will be deducted from your investment amount.
Subsequently, an annual fee of RM8 will be deducted from your investment amount for subsequent investment on the next calendar year.

So 1st year RM18 deducted, next year onward RM8 per fund if top up.. hmm.gif pay RM10 for diversification, seems ok pun...
ChiaW3n
post Jun 21 2018, 12:01 PM

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QUOTE(mephyll @ Jun 20 2018, 04:22 PM)
what i did is pick 1 of the PRS fund available in FSM then just buy without study much on it (bad example)...
why? 0% sales charge + is very long term investment. dont have to bother too much the performance etc.
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i heard from my friend right, opening up first time with FSM mafan.
ChiaW3n
post Jun 21 2018, 12:03 PM

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QUOTE(adele123 @ Jun 21 2018, 08:50 AM)
i gave slightly more thought than the other guys...

Do you want to invest in Malaysia or non-Malaysia Market?

A) Malaysia: choose the fund with best record
B) Non-Malaysia: choose the fund with best record, although actually only one fund qualifies this category for me, cimb ap ex japan prs fund

I went with B.
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investing PRS also because of the tax deduction, that's why i got not much knowledge at this area biggrin.gif biggrin.gif
rapple
post Jun 21 2018, 12:20 PM

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QUOTE(ChiaW3n @ Jun 21 2018, 12:01 PM)
i heard from my friend right, opening up first time with FSM mafan.
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0% service charge, so a little bit of inconvenience is acceptable.
mephyll
post Jun 21 2018, 12:22 PM

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QUOTE(ChiaW3n @ Jun 21 2018, 12:01 PM)
i heard from my friend right, opening up first time with FSM mafan.
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QUOTE(rapple @ Jun 21 2018, 12:20 PM)
0% service charge, so a little bit of inconvenience is acceptable.
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so far so good, just the documents submission troublesome... by post or by hand..
agree, 0% sc... worth more than buy via PPA website. cant recall how many % d.
ChiaW3n
post Jun 21 2018, 02:55 PM

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QUOTE(rapple @ Jun 21 2018, 12:20 PM)
0% service charge, so a little bit of inconvenience is acceptable.
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QUOTE(mephyll @ Jun 21 2018, 12:22 PM)
so far so good, just the documents submission troublesome... by post or by hand..
agree, 0% sc... worth more than buy via PPA website. cant recall how many % d.
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Thank you for all the advice! smile.gif make my mind more clear now!
yadayada111
post Jun 21 2018, 11:56 PM

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I see. FSM, will check it out. Thanks guys.
Cactus89
post Jul 3 2018, 12:54 PM

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latest reply I got from ppa.
the Youth Incentive payment has been approved in mid-April-May, we are still waiting for the disbursement from Ministry of Finance to PPA. This is taking longer than usual as the Treasury Department is undergoing a transition.

it seems like lot of politic taking place.. xD
mephyll
post Jul 3 2018, 02:04 PM

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QUOTE(Cactus89 @ Jul 3 2018, 12:54 PM)
latest reply I got from ppa.
the Youth Incentive payment has been approved in mid-April-May, we are still waiting for the disbursement from Ministry of Finance to PPA. This is taking longer than usual as the Treasury Department is undergoing a transition.

it seems like lot of politic taking place.. xD
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Finally another email replied. keep waiting only.
MrBlackie33
post Jul 3 2018, 07:01 PM

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QUOTE(Cactus89 @ Jul 3 2018, 12:54 PM)
latest reply I got from ppa.
the Youth Incentive payment has been approved in mid-April-May, we are still waiting for the disbursement from Ministry of Finance to PPA. This is taking longer than usual as the Treasury Department is undergoing a transition.

it seems like lot of politic taking place.. xD
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Good news better than none...at least we know it will be coming lol
mekboyz
post Jul 5 2018, 02:55 PM

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can I buy PRS direct from PPA website?
mekboyz
post Jul 5 2018, 02:57 PM

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QUOTE(yadayada111 @ Jun 20 2018, 02:11 AM)
how do you guys top up? i just topped up RM3000 using PPA online. Net contribution become RM2904.86. Almost RM100 charge ah?? Liddat one ah? i put into CIMB plus asia pac ex-japan.
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i thought its 50 cents only? the service charge
mephyll
post Jul 5 2018, 03:05 PM

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QUOTE(mekboyz @ Jul 5 2018, 02:55 PM)
can I buy PRS direct from PPA website?
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can, but there are some charges, as what u read few posts back.. or u can try log in and top up... but not to proceed the payment. it will pop out how much the charges.
MUM
post Jul 5 2018, 03:07 PM

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QUOTE(mekboyz @ Jul 5 2018, 02:55 PM)
can I buy PRS direct from PPA website?
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reading this website....looks like you can only do top up (of existing PRS funds that you are currently holding) not new prs funds

https://www.ppa.my/prsonline1/
mekboyz
post Jul 5 2018, 05:35 PM

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QUOTE(MUM @ Jul 5 2018, 03:07 PM)
reading this website....looks like you can only do top up (of existing PRS funds that you are currently holding) not new prs funds

https://www.ppa.my/prsonline1/
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but i managed to create first time account (upload IC etc) and buy funds (CIMB). only can choose one provider
MUM
post Jul 5 2018, 06:37 PM

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QUOTE(mekboyz @ Jul 5 2018, 02:55 PM)
can I buy PRS direct from PPA website?
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See below post....

QUOTE(mekboyz @ Jul 5 2018, 05:35 PM)
but i managed to create first time account (upload IC etc) and buy funds (CIMB). only can choose one provider
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Good to know that.....
Btw....how much sales charges do you have to pay for this CIMB PRS fund?
3%?
mekboyz
post Jul 6 2018, 12:14 AM

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QUOTE(MUM @ Jul 5 2018, 06:37 PM)
See below post....
Good to know that.....
Btw....how much sales charges do you have to pay for this CIMB PRS fund?
3%?
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i dont know. just had 50cents added to my FPX transaction from maybank. i think they might deduct after they confirm
MUM
post Jul 6 2018, 12:44 AM

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QUOTE(mekboyz @ Jul 6 2018, 12:14 AM)
i dont know. just had 50cents added to my FPX transaction from maybank. i think they might deduct after they confirm
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Yes, Thanks, will you please update us when you did have the numbers,
for just 2 weeks ago, a forummer posted this....

QUOTE(yadayada111 @ Jun 20 2018, 02:11 AM)
how do you guys top up? i just topped up RM3000 using PPA online. Net contribution become RM2904.86. Almost RM100 charge ah?? Liddat one ah? i put into CIMB plus asia pac ex-japan.
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SUSMNet
post Jul 6 2018, 06:04 PM

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why u wan to buy from prs website not from fsm?
thlo87
post Jul 7 2018, 09:30 AM

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Hi, i made my purchases up to 3k in 2017, and all in 1 fund, but has yet to receive the youth incentive of 1k ? Is anyone facing the same problem ?
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