You can sign up at
1/ PPA Website
2/ Fundsupermart
3/ eunittrust
4/ Banks

Some PRS fund impose sales charge but I know that Fundsupermart don't charge. Have to check the details at those website for more info. I personally use Fundsupermart as I have already an account with them and their interface enables easy tracking.

The fees (annual fee, trustee fee, sales charge, etc) varies according the fund. Depending on your risk tolerance, you can check out the previous posts for other members' arguments on which fund is the best.

This post has been edited by Gabriel03: Dec 16 2018, 05:26 PM

Guys got a question. What's the threshold for prs to be recommended?

Example if I started working in Oct this year and tax maybe not alot.so if I buy 3k prs, I probably won't utilize it fully?

If u get what i mean.

I guess if I have big bonus this year, it's good to max the prs relif. Else if not, then not worth?

Youth <30- min 1k

In your case, calculate how much you will get from tax and decide. There is no recommended threshold. People use PRS for the Youth incentive and tax relief.

For investment, they can opt for regular unit trust where they can withdraw whenever they want.

For me is very easy.
Income tax money is not yours at the end of the day.
PRS money is yours at the end of the day.

Just hentam max RM3k/year inside. Don't hentam more. No point hentam more when tax relief max only Rm3k. Also who cares cannot utilise fully. See the above. You rather pay tax or pay yourself? I know what I will choose. That's why my RM3k is always ready for PRS.

Tax relief until 2021. If don't extend, don't put in anymore lo. Simple. If extend, just continue to put in.

This post has been edited by Ramjade: Dec 16 2018, 10:01 PM

Yes, max 3k per year to get relif. But those maybe pay rm50 per month of tax to income tax, one year maybe rm600 give to tax (assume no bonus)

So now I need find method to get back rm600 which is by tax relif right?

So if I put in 3k to get back rm600 doesn't seem make sense?

And yes, 3k is yours in the end. But maybe fund perform badly, might lose money and only wait 55 years old only can withdraw.

Sorry newbie here

This post has been edited by PrincZe: Dec 16 2018, 11:31 PM

I think that you're confused between tax relief and tax rebate.

Let's just use your example of paying RM 600 of tax in a year.

Tax rebate - very few possibilities. Most famous one is zakat. If u pay RM 300 in, then you need to pay only RM 300 in tax. In short, tax rebate subtracts from the total tax that you need to pay.

Tax relief reduces your taxable income. The taxable income is calculated by subtracting the tax relief from your total annual income. For example, if you earn RM 48k in gross annual income and you get RM 3k for PRS, your taxable income decreases to RM 45k. There are other tax reliefs to be added like EPF, SOCSO, etc.

Fyi, the taxable income is taxed from 0% to 28%. So, if you earn 1 million a year, your highest tax range is 28%. For 3k in PRS, you save RM 840.

So, if you are paying RM 600 for this year, your maximum taxable income is at 3% for 2018. So, by putting RM3k into PRS, you get a tax refund of RM 90.

This post has been edited by Gabriel03: Dec 17 2018, 12:02 AM

Oh yes, reduce my taxable income. But each month my pcb only rm50 per month. So in a year my pcb is rm600.

So if I earn 48k per annum, thats like 4k per month, I invest rm3k and get rm90 out of rm600.

In order to get rm90 back from rm600, I have to invest 3k. 🤔🤔

Although 3k belongs to yours in the end.

This post has been edited by PrincZe: Dec 17 2018, 12:03 AM

That's why there is pros and cons depending on your salary. Bear in mind that the money is yours but it's locked until retirement. You can partially withdraw but you will get tax penalty.

It depends on your confort zone as you might need that 3k in a few years to come??? Idk... You have to determine it yourself.

Yes I agree. So it's not entirely should put in full. Maybe 1k depending on salary.

If earn high salary and each month pay high pcb good tax relif.

Thanks alot Gab!

You're welcome.

Also, do remember that if you're less than 30 years old, it's best to invest 1k by end of this year. This is because the government gives 1k into ur prs account if you contribute at least 1k (one time deal until end of 2018). For this case, I agree that you should place 1k regardless of your salary because your Roi is 100% thanks to Msia gov.

This post has been edited by Gabriel03: Dec 17 2018, 12:14 AM

Hi.if i just purchase the prs approved fund from fundsupermart, goverment will automatically bank in another 1k to me(first time buyer here) or i need to will up some form to apply?

Automatic.

For purchase of prs, may i knw is there any difference of buying it from CIMB OR Public bank?

I went to public bank,the lady told me stil gt

The fund performance is obviously different.

Any good prs fund to reconmend?i wont blindly follow one.it just too many selection which i lazy to go through all.thanks

My PPA application just got rejected
Whats should I do next?
Can I just walk in to any branch? Or apply thru FSM?

You should go back to the original channel that you apply/buy from.

why was it rejected?

No right or wrong here ......just wondering how are you gonna do that when....
......
1) you mentioned that you are lazy to go through all the PRS funds because according to you it is just too many of them,
2) you mentioned that you won't blindly follow one (i assume the 'one" are the recommendations that you seek to have from forummers)
3) you seek the recommendation from forummers when you mentioned it would maybe be a futile recommendation for you won't blindly follow them too......(just how to not blindly follow when one is too lazy to check it out?)
4) what is your criteria for being a "good' prs fund?

This post has been edited by MUM: Dec 19 2018, 09:27 AM