Dear PRS Member,

Based on the records lodged by your PRS Provider, you are eligible for the RM1,000 Youth Incentive in second reporting period of year 2018.

You do not have to apply for the incentive. PPA will monitor the eligible accounts and compile a listing of those qualified and notify the Government of the individuals eligible for this incentive.

At the current juncture, we are waiting for the relevant parties for further information on the PRS Youth Incentive pay-out timeline.

We hope the above clarifies and should you require further assistance, kindly contact us at 1-300-131-772 between 8:30 am to 5:30 pm, Monday to Friday (except Public Holidays) or you can e-mail us at askPPA@ppa.my

for those who plan to top up and get the incentive, i top up in 2014 to get 500 from government contribution.

1/1/2019 my balance is 1499 which is rm 1 less than 1.5k since 2014, and today i check is 1542 as of 31/5. Ok lets say the interest i get is rm 42 for 5 years, each year is only 0.56% interest. I meant come on dont waste time on this rubbish PRS. you put in FD can get much more than this. Luckily i didnt top up any after the first time. They even charge service fee for top up

I can imagine when i retired and go to the aia to withdraw then the fella give back me 1.5k since 2014. Never trust investment plan from insurance again. They spend your money invest in big car and big house for themselves.

This post has been edited by darkterror15: May 31 2019, 10:17 AM

I think you totally were not well informed by your agent on the benefits of PRS. Do you even know what fund he chose for your PRS?

One of the most important benefit of PRS is TAX RELIEF.

If you have earned enough to pay tax, the returns you get from LDHN you must consider also. But of cos if you don't pay tax then don't bother with PRS.

yup - some folks use wrong tool for wrong goals, then say useless tool

i've seen the enemy (of growing wealth), it is i (fear, greed, laziness to learn/fact check)

PRS without tax relief is pretty pointless. No way I gonna get my money locked up till old age in mutual funds with high expense ratio.

is islamic something something, got 4 choices and sugar coat it until say can get 4-5% return etc. i have to pay pcb but not until that high. the processing fee to top up is 3% unless u straight go for 10k each top up. well certainly the tax relief has a limit just like kwsp (6k). how much tax relief for that PRS ? 3k ? forgotten.

PBB mutual fund is although some are bad but still profitable than this PRS. my mum 20 year PBB mutual fund return is less than FD. So i dont really see the point here. More so let an insurance company to run the fund

Another advice..why go for insurance companies for investment? There is asset management companies for that purpose. Anyway all I see is just ill-informed customer ranting here.

My advice is just put in Rm3k/year into PRS just for the tax relief and don't bother after that. You may do Rm250/month to average out in this volatile environment. Once they stop the tax relief you can stop the contribution as well.

more like over promising customer with their fake ROI

i think more on the results of not knowing the risks and expectations of the things one invested on, too naïve to the need to get to know more before jumping in the bandwagon, etc, etc...

I'm get same statement from PRS, i think all people should go to ask them and give them a pressure. haha

Pressure for what?

Relevant parties is referring to?

Most likely you paid sales fee back in 2014, which puts you in negative from the start

Time to get your hands dirty:
1. Skip the agent, buy through 0% sales fee platform like fundsupermart

2. Monitor your funds, switch if required due to performance and your age. Morningstar allows you to view net returns https://gllt.morningstar.com/e6qvxuu98r/fun...B&tab=ShortTerm

For starters you may compare core funds between each fund house - core funds are Conservative (age 50 above), Moderate (40-50), Growth (under 40)

A lot of us here like the non core fund CIMB Principal's Asia Pacific excluding Japan and put money in it as long as there's tax relief.

Is now right time to buy into unit trust in bulk? Or better to pay into it monthly basis? Thanks in advance.

depends...
have you got the emotional experience in investing in UT?
have you experienced the falls of the prices of UTs for a lengthy period of time before?

if, not, try to go in slowly (regularly, periodically) would be advise able as that will spread out the risk/volatility of the price movement.

There is alot of considerations to be taken
1) your risk profile
2) your target amount to save every month
3) your expected return annually
4) the type of funds you are investing in

Generally, i would say monthly basis is better for dollar cost averaging

Thanks for your advice! Appreciate that.

Thanks for your advice! Appreciate that.

I invested in Dec 2017 and only received RM1000 youth incentive in Oct 2018. May be you need to wait for few more months for the money to release to your account.

The govt is delaying the Youth Incentive?