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 Private Retirement Fund, What the hell is that??

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bearbearhong
post Oct 23 2013, 02:26 PM

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QUOTE(wongmunkeong @ Oct 23 2013, 01:48 PM)
PRS a/c B only can be taken out b4 55 unfortunately.
A/c B = 30% only of yr full PRS  cry.gif
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thanks bro, i am investing RM3k per yr, so d ac B 30% is not a substantial amount...haizz
simplesmile
post Oct 23 2013, 03:14 PM

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QUOTE(felixmask @ Oct 23 2013, 12:17 PM)
YOU cant report in your TAX form for rebate. the fund only can withdraw 55year old.
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I think you mean age 60, right?
wongmunkeong
post Oct 23 2013, 06:45 PM

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QUOTE(simplesmile @ Oct 23 2013, 03:14 PM)
I think you mean age 60, right?
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55 last seen
http://www.thesundaily.my/news/752960
...Earlier, in his opening remarks at the conference, SC executive chairman Datuk Ranjit Ajit Singh said the regulator is presently maintaining the age limit of permitting full withdrawals from PRS at 55 years of age...

http://www.ppa.my/prs/prs-faqs/
From PRS administrator itself

This post has been edited by wongmunkeong: Oct 23 2013, 06:54 PM
Kaka23
post Oct 23 2013, 07:52 PM

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QUOTE(guy3288 @ Oct 23 2013, 12:00 AM)
WHich Hwang PRS you bought?At what price? So must buy when the price is lower? Timing it?

I am also thinking to buy Hwang PRS.
just dont know which one is better,..?Hwang PRS Growth fund  or ?Hwang PRS Aiiman Syariah Growth fund.

Anybody can suggest taking into account the current prices of the 2 funds, which is better?. Hope to enter at lower prices .
-deleted----found where to check prs prices.

Thanks.
NOw after checking found:

Hwang PRS Growth beginning RM0.5516 almost highest Jul 2013, then lowest 0.5184 and now 0.5350

Hwang PRS Aiiman Syariah, in Jul 2013 highest RM0.5952, then lowest 0.5429 and now RM0.5782.

So is HWang PRS growth a better one to enter now?
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I got hwang prs growth fund.

I bought it in May before the fall. So I went in high. But end of the day, this is long term. So dont worry to much which nav you went in.

You need to know where the funds invest in in termd of regions. Then sectors. So with these, decide you want prs growth or aiiman growth. This is assuming you are able to take some risk due to selecting growth fund.
simplesmile
post Oct 24 2013, 08:55 AM

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QUOTE(wongmunkeong @ Oct 23 2013, 06:45 PM)
55 last seen
http://www.thesundaily.my/news/752960
...Earlier, in his opening remarks at the conference, SC executive chairman Datuk Ranjit Ajit Singh said the regulator is presently maintaining the age limit of permitting full withdrawals from PRS at 55 years of age...

http://www.ppa.my/prs/prs-faqs/
From PRS administrator itself
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With pressure from the financial industry (especially UT industry because they want to keep your fund longer so they can earn another 5 years management fee), I am sure the withdrawal age will change in several years time.
wongmunkeong
post Oct 24 2013, 09:26 AM

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QUOTE(simplesmile @ Oct 24 2013, 08:55 AM)
With pressure from the financial industry (especially UT industry because they want to keep your fund longer so they can earn another 5 years management fee), I am sure the withdrawal age will change in several years time.
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Well, i don't deal with crystal balls. What is now and statement of fact is 55.
Thus it isn't 60.
felixmask
post Oct 24 2013, 01:51 PM

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QUOTE(simplesmile @ Oct 24 2013, 08:55 AM)
With pressure from the financial industry (especially UT industry because they want to keep your fund longer so they can earn another 5 years management fee), I am sure the withdrawal age will change in several years time.
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retirement age implemetation juz this year, mostly wait gradually another few year to standarize.

Else there is out cry, for those who retire this year; escpically EPF and UT cant be withdraw with the new changes.
wil-i-am
post Oct 27 2013, 11:18 PM

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GoM proposes one-off incentive RM500 to contributors who participated in PRS with min cumulative investment of RM1k within a yr
Available for individuals aged between 20 to 30 yrs old oni
SUSMNet
post Oct 27 2013, 11:32 PM

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how to take the rm500?

is it automatic?
felixmask
post Oct 28 2013, 07:48 AM

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QUOTE(MNet @ Oct 27 2013, 11:32 PM)
how to take the rm500?

is it automatic?
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You cant take immediately ,only when you fill up INCOME TAX at tax rebate deduction & there calc hv Tax refund.

This post has been edited by felixmask: Oct 28 2013, 07:50 AM
ch_leong
post Oct 28 2013, 11:21 AM

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Actually what does that RM500 for government mean? It is a tax rebate of RM500?
SUSyklooi
post Oct 28 2013, 11:25 AM

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QUOTE(felixmask @ Oct 28 2013, 07:48 AM)
You cant take immediately ,only when you fill up INCOME TAX at tax rebate deduction & there calc hv Tax refund.
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hmm.gif what about those aged 20 to 30 working, invested in PRS min Rm 3000 but are their salary are low thus no need to pay tax?
SUSyklooi
post Oct 28 2013, 11:29 AM

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QUOTE(ch_leong @ Oct 28 2013, 11:21 AM)
Actually what does that RM500 for government mean? It is a tax rebate of RM500?
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for the recently announced in the budget, i think it is not a tax rebate....cos what about those young contributors to PRS has low salary and are not in tax able range?
the complete details are not out yet ( i think)...best check with the PRS providers.
felixmask
post Oct 28 2013, 11:49 AM

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QUOTE(yklooi @ Oct 28 2013, 11:25 AM)
hmm.gif what about those aged 20 to 30 working, invested in PRS min Rm 3000 but are their salary are low thus no need to pay tax?
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this i dunnow..maybe thru Income Tax(refund) or like BR1M...go and queue to get the money.

SUSyklooi
post Oct 28 2013, 11:55 AM

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QUOTE(felixmask @ Oct 28 2013, 11:49 AM)
this i dunnow..maybe thru Income Tax(refund) or like BR1M...go and queue to get the money.
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rclxms.gif above can be also,
hmm.gif maybe also thru disbursement from PPA.. this will have to wait for details.
just checked with CIMB-Principal ...no details yet
just when is this plan start? next year ?
felixmask
post Oct 28 2013, 11:58 AM

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QUOTE(yklooi @ Oct 28 2013, 11:55 AM)
rclxms.gif  above can be also,
hmm.gif  maybe also thru disbursement from PPA.. this will have to wait for details.
just checked with CIMB-Principal ...no details yet
just when is this plan start? next year ?
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next year transaction..to get the money must wait till 2015.
simplesmile
post Oct 28 2013, 12:38 PM

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QUOTE(wil-i-am @ Oct 27 2013, 11:18 PM)
GoM proposes one-off incentive RM500 to contributors who participated in PRS with min cumulative investment of RM1k within a yr
Available for individuals aged between 20 to 30 yrs old oni
*
I hate this government. Always excluding my age group when have goodies.
wil-i-am
post Oct 28 2013, 04:33 PM

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QUOTE(simplesmile @ Oct 28 2013, 12:38 PM)
I hate this government. Always excluding my age group when have goodies.
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Me too
Oredi invested in PRS but not 1 of d beneficiary
kaiserwulf
post Oct 29 2013, 11:27 AM

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QUOTE(wil-i-am @ Oct 27 2013, 11:18 PM)
GoM proposes one-off incentive RM500 to contributors who participated in PRS with min cumulative investment of RM1k within a yr
Available for individuals aged between 20 to 30 yrs old oni
*
So a 29 year old under highest tax bracket who puts in RM1000 this month only for whole of 2013- will get RM 260 (tax relief) and RM 500 (tax rebate?)

RM 240 make RM 1k? WOW rclxms.gif

*Sifu please correct me if I am wrong*
SUSyklooi
post Oct 29 2013, 11:35 AM

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QUOTE(kaiserwulf @ Oct 29 2013, 11:27 AM)
So a 29 year old under highest tax bracket who puts in RM1000 this month only for whole of 2013- will get RM 260 (tax relief) and RM 500 (tax rebate?)

RM 240 make RM 1k? WOW  rclxms.gif

*Sifu please correct me if I am wrong*
*
hmm.gif YES, it will be a WOW. i think the gomen already budgeted it ...just like the tax rebate for the other PRS and SSPN products
complete details are not available yet the last i checked with CIMB Principal, i think the plan will only start next year....
anyway you are require to check with the PRS providers before end of DEC 2013, just incase one can claims this RM500 this year
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