Then i dunno why you said now is a good time lol. Since entry price is not a concern lol.

It may not applicable to you.
Since it's on the downward trend, I'm just saying now could be a good entry.
I cannot see the future and I don't know upcoming NAV.
This is the lowest NAV I saw so far since the beginning of 2020.

when the market is bearish like now, it's good to enter with more $$$.

Dear PRS Member,

Effective 15 March 2020, PRS Members can make pre-retirement withdrawals from PRS for the purposes of housing and healthcare without tax penalty, as announced in Budget 2020.

This move will help Malaysians to use a portion of their retirement savings for their needs. Withdrawals will come from Sub Account B, which holds 30 percent of PRS Members’ savings.

In recognition of rising healthcare cost, withdrawal for immediate family members is also allowed and can be used to cover 91 types of illnesses, including the cost of medical equipment or medication for the approved illnesses.

For housing, withdrawals can be made to buy or build a house as well as to reduce or redeem a housing loan.

Below is a list of forms, guides and documents which you can download to facilitate your withdrawal application. If you have a question that is not answered in the FAQ, you can call PPA at 1300-131-772 for further assistance on this withdrawal measure.

thank U for the useful info sharing GrumpyNooby,

I copied from the mailer from PPA.
Don't thank me!

I still want to thank you too for the awareness.

check here for more info:-
https://www.ppa.my/wp-content/uploads/2020/...-Healthcare.pdf

but most of the fund price are low now, if withdraw, also rugi

Is there any numbers of times restriction to switch between PRS funds in a year?

according to this....
There is no switching fee and also no restriction to the number of switching transactions EXCEPT for the fund houses below:
.........
https://www.fundsupermart.com.my/fsmone/fun...ment-Scheme-PRS

Yey can witdraw from account 2 without penalty up to 1,500. and then, reinvest?

1.5k so little

Yes only RM 1.5k but it is 50% of the maximum RM 3.0k allowed for income tax relief.

So, this year, can recycle our own money to maximize tax reduction.

How? This one assumes you have a housing loan you want to reduce and you have flexibility to withdraw any extra payment that you pump into the loan. Once it's paid in, you have an extra RM 1.5k to recycle back to PRS - assuming you don't need the money at all. But the paperwork with CTC of bank account statement is a deterrent, especially with the MCO. Adoption rate may be low.



This post has been edited by saintmikal: Mar 27 2020, 09:07 PM

I have a hunch it can't be that easy, otherwise it's a huge gap overlooked by LHDN.

Will just assume LHDN only give relief for RM3000 going into PRS nett.

Maybe they'll take SSPN approach? Relief Amount = Contribution - Withdrawal for that calendar year

just sign up a PRS plan with Affin Hwang lately...

hmmm

thx man

Details and FAQ is out:

https://www.ppa.my/wp-content/uploads/2020/...Tax-Penalty.pdf

Good thing is:

What is the maximum withdrawal amount I can make for this temporary relief?
 Members may request for withdrawal from one or more funds managed by each PRS Provider to a maximum amount of RM1,500 per Provider.

This post has been edited by GrumpyNooby: Apr 1 2020, 12:08 PM

so can topup for tax relief this year then withdraw some