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> Private Retirement Fund, What the hell is that??

Ramjade
post Oct 11 2018, 11:50 AM

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QUOTE(infested_ysy @ Oct 11 2018, 11:42 AM)
how do you guys top up on your PRS?

Through this site?
https://www.prsmember.my/

I kinda stopped topping up my prs account anymore, because I don't really like the fees they deduct each time I contribute, and I don't see their returns being better than EPF. I just opt for higher self contribution rate off my salary to EPF, in addition to doing other things like unit trust.

Can anyone convince me otherwise? My last contribution was RM500 to my PRS (public bank PRS), but I was credited 476.37 into my account. Meaning I was charged 4.7% for transaction fees? That's kinda ridiculous.

The annual statements aren't really clear too. I'd love it if they'd say how much in interest I've made, and how many more units I got in return.

tl;dr I don't think PRS is worth it, convince me otherwise?
*
FSM or eUT Malaysia. Both zero percent service charge.
Only RM8/year. If you don't topup, no charge. But wasted la. PRS money still your money at the end of the day. Income tax money paid is not your money tongue.gif
Avoid public bank. They may be one of the most popular but they are one of the worst in the market tongue.gif

You must know what you want to to buy. Don't simply buy because someone told you so. Read more about unit trust.
https://forum.lowyat.net/topic/4193169

Again choose what you are comfortable with.

You have to understand that unit trust is a basket of stocks which invest in stocks or bonds. To make profit from unit trust, your buying price have to be way lower than selling price.
infested_ysy
post Oct 11 2018, 04:03 PM

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QUOTE(Ramjade @ Oct 11 2018, 11:50 AM)
FSM or eUT Malaysia. Both zero percent service charge.
Only RM8/year. If you don't topup, no charge. But wasted la. PRS money still your money at the end of the day. Income tax money paid is not your money  tongue.gif
Avoid public bank. They may be one of the most popular but they are one of the worst in the market  tongue.gif

You must know what you want to to buy. Don't simply buy because someone told you so. Read more about unit trust.
https://forum.lowyat.net/topic/4193169

Again choose what you are comfortable with.

You have to understand that unit trust is a basket of stocks which invest in stocks or bonds. To make profit from unit trust, your buying price have to be way lower than selling price.
*
What's eUT?
www.eunittrust.com.my <- this one?
Ramjade
post Oct 11 2018, 04:09 PM

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QUOTE(infested_ysy @ Oct 11 2018, 04:03 PM)
What's eUT?
www.eunittrust.com.my <- this one?
*
Yup is the one.
Sumofwhich
post Oct 11 2018, 08:27 PM

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QUOTE(Ramjade @ Oct 11 2018, 11:50 AM)
FSM or eUT Malaysia. Both zero percent service charge.
Only RM8/year. If you don't topup, no charge. But wasted la. PRS money still your money at the end of the day. Income tax money paid is not your money  tongue.gif
Avoid public bank. They may be one of the most popular but they are one of the worst in the market  tongue.gif

You must know what you want to to buy. Don't simply buy because someone told you so. Read more about unit trust.
https://forum.lowyat.net/topic/4193169

Again choose what you are comfortable with.

You have to understand that unit trust is a basket of stocks which invest in stocks or bonds. To make profit from unit trust, your buying price have to be way lower than selling price.
*
RM8/year? So it isn't entirely free with them, that was the catch, RM8/year for each PRS account with them?
honsiong
post Oct 11 2018, 08:39 PM

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QUOTE(Sumofwhich @ Oct 11 2018, 08:27 PM)
RM8/year? So it isn't entirely free with them, that was the catch, RM8/year for each PRS account with them?
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If you invest RM1000 with them, that's 0.8% p.a.

If you have RM100,000, it diminishes down to 0.008%, not bad.
David83
post Oct 11 2018, 08:43 PM

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RM 8 per year goes to PPA not PRS provider. doh.gif
Ramjade
post Oct 11 2018, 08:51 PM

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QUOTE(Sumofwhich @ Oct 11 2018, 08:27 PM)
RM8/year? So it isn't entirely free with them, that was the catch, RM8/year for each PRS account with them?
*
Rm8/year for each fund you have. That's why just buy one PRS fund cukup.
MUM
post Oct 11 2018, 08:58 PM

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QUOTE(Sumofwhich @ Oct 11 2018, 08:27 PM)
RM8/year? So it isn't entirely free with them, that was the catch, RM8/year for each PRS account with them?
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RM8 charged yearly per provider.....(not payable in the year the account was opened and in the year where there is no contribution).

https://www.ppa.my/joining-prs/other-important-information/
Sumofwhich
post Oct 11 2018, 09:16 PM

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QUOTE(David83 @ Oct 11 2018, 08:43 PM)
RM 8 per year goes to PPA not PRS provider. doh.gif
*
QUOTE(MUM @ Oct 11 2018, 08:58 PM)
RM8 charged yearly per provider.....(not payable in the year the account was opened and in the year where there is no contribution).

https://www.ppa.my/joining-prs/other-important-information/
*
Thank you!
I have 3 PRS, thought buying with bank will be least charges, kena slapped with 3% SC, whereas FSM is 0% doh.gif
Through agents is 1.5%, but they said they will help you monitor sweat.gif

This post has been edited by Sumofwhich: Oct 11 2018, 09:18 PM
Ramjade
post Oct 11 2018, 09:18 PM

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QUOTE(Sumofwhich @ Oct 11 2018, 09:16 PM)
Thank you!
I have 3 PRS, thought buying with bank will be least charges, kena slapped with 3% SC, whereas FSM is 0%  doh.gif
Through agents is 1.5%, but they said they will help you monitor  sweat.gif
*
No one's going to help you monitor. You yourself have to monitor. Besides what's there to monitor? Just dump inside until 2021. If after 2021 no more tax relief, no need to buy anymore.

So simple.
David83
post Oct 11 2018, 09:18 PM

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QUOTE(Sumofwhich @ Oct 11 2018, 09:16 PM)
Thank you!
I have 3 PRS, thought buying with bank will be least charges, kena slapped with 3% SC, whereas FSM is 0%  doh.gif
Through agents is 1.5%, but they said they will help you monitor  sweat.gif
*
What to monitor?
You can only withdraw at the age of 55.
If fund is performing badly, you're not able to sell it; just switch out.
Sumofwhich
post Oct 11 2018, 09:21 PM

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Yeah exactly, just buy from FSM,
wonder if I'll be charged RM10 again if I sign up the same CIMB PRS with FSM when I already opened one with CIMB last time, hopefully not (but RM10 is minimal)
honsiong
post Oct 11 2018, 09:21 PM

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I can't seem to find how long will it take to open my account, been waiting since Tuesday.
David83
post Oct 11 2018, 09:24 PM

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QUOTE(Sumofwhich @ Oct 11 2018, 09:21 PM)
Yeah exactly, just buy from FSM,
wonder if I'll be charged RM10 again if I sign up the same CIMB PRS with FSM when I already opened one with CIMB last time, hopefully not (but RM10 is minimal)
*
You should have a unique PPA account number which is tied to your NRIC.
PPA<NRIC>

I believe they can trace that out!
xuzen
post Yesterday, 12:37 PM

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Happy boh?
David83
post Yesterday, 01:12 PM

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QUOTE(xuzen @ Oct 16 2018, 12:37 PM)
Attached Image  

Happy boh?
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Confirmed by Nobita?
lhwang
post Yesterday, 04:05 PM

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Hi all,

I am with PB mutual, and get gov 1k already.

Thinking to switch to other provider, any suggestion ? ( Since its PRS so yea long term investment )

I see gov 1k is separate account with my invested 1k account, is both money transferable all together to new provider ?

Appreciate any inputs.

Thanks in advance 😃
monoikhwan
post Yesterday, 04:13 PM

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My wife born on 12 June 1988. So she is already 30y.o. this year.
Can I still apply for this PRS and enjoy the extra 1k from gov (provided that the fund is still available)?

MUM
post Yesterday, 04:14 PM

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QUOTE(lhwang @ Oct 16 2018, 04:05 PM)
Hi all,

I am with PB mutual, and get gov 1k already.

Thinking to switch to other provider, any suggestion ? ( Since its PRS so yea long term investment )

I see gov 1k is separate account with my invested 1k account, is both money transferable all together to new provider ?

Appreciate any inputs.

Thanks in advance 😃
*
I think should be able to transfer since the youth incentives of RM1000 incentive as the payment will be credited into your sub-account A, which can only be withdrawn when you retire at 55 years old.

check with the fund house that you intend to switch to then tell us?....
MUM
post Yesterday, 04:16 PM

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QUOTE(monoikhwan @ Oct 16 2018, 04:13 PM)
My wife born on 12 June 1988. So she is already 30y.o. this year.
Can I still apply for this PRS and enjoy the extra 1k from gov (provided that the fund is still available)?
*
• For Malaysians only.

• Aged 20 and above but have yet to reach the age of 31.

• Accumulate a minimum gross investment amount of RM1,000 in a single PRS fund of a single PRS provider within a calendar year, between 2017 till 2018.

Scenario
Mr. A will be turning 31 on 27 December 2017. He has invested RM1,000 gross amount in PRS X on 2 January 2017. Mr. A will be entitled to the RM1000 incentive from the Government as he made the contribution when he was 30 years old and within the period of 2017 to 2018.*
*Kindly make your contributions at least 1 month before your 31st birthday to allow your application to be processed in time for you to be eligible for the RM1000 incentive.

https://www.fundsupermart.com.my/main/faq/1...me-PRS--8865#32

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