Thanks for the sharing.
What is the best PSR available? Public Mutual?
Which deferred annuity is better? Maybank or Great eastern?

Thanks.

read previous posting...ex page 20.

maybank or GE....get the agents to propose to you
compare the benefits and premium?
then decide.

Thanks, need advice from someone that know more on Deferred Annuity Plan for Maybank and GE. Thanks.

There are three (3) categories for insurance tax relief.

Life Insurance Policies - up to RM6k only
Education & Medical Insurance - up to RM3k only
Private Retirement Schemes - up to RM3k only

I seriously don't think 'Deferred Annuity Plan from Maybank and Great Eastern' fall under PRS tax relief but maybe under the other two (2) categories.

PRS is an additional tax relief on top of the previous two (2) categories.

This post has been edited by Average-Joe: Dec 24 2013, 03:09 PM

Used to have a special Annuity Tax Relief up to RM1000 per year... but now it's combined with PRS under RM3000 tax relief a year (from YA2012 until YA2021)

Source

This post has been edited by ronnie: Dec 24 2013, 03:17 PM

So confirmed by Ronnie.

Noted with thanks!

may I know are there double charge by the PRS fund for management fee?
ie.

PRS fund will invest into unit trust only by respective company?
,
for example

PRS growth fund by HDBS , annual management fee 1.8 %

and this PRS growth fund HDBS invested in UNIT trust by their company ,HDBS eg, HDBS equity fund, etc.

and this HDBS equity fund also have annual management fee of 1.8 %

so if u invested in this HDBS PRS growth fund, this fund really no need to do anything and but just help u buy unit trust can get management fee of 1.8 %

so is it end up, u will get charge annual management fee x2 which is 1.8 % by this PRS fund , and the unit trust invested by this fund another 1.8 %

so end up... if u invested rm 100, 1.8 %+1.8 %= 3.6 % will be gtg to the same unit trust company...

can any 1 enlighten me on the above issue? on double charge of management fee? I cant get any info online and it was not reveal in any website on this hidden cost

just take your example, Hwang, have you read the annual report??
(Hint: note 4)

hi, will you be able to explain?

majority PRS unit trust will buy the unit trust of their company..

PRS A fund will buy unit trust by company A
....
PRS A fund mx fee 1.5% will buy unit trust company A
Company A unit trust mx fee 1.5 %

not 1.5 % + 1.5 % charge?

no double charge?

I think this info was not disclose...

will be happy if u can help me on this

is it stated in the annual reports as pointed by forummer yong417 at post # 450?

This post has been edited by yklooi: Dec 25 2013, 11:34 PM

SANGKANCIL2000

Please download a copy of Hwang PRS annual report (any PRS funds) and read the Notes to the FS item No.4



This post has been edited by yong417: Dec 26 2013, 08:30 AM

So....how does the PPA take RM8 from our PPA account?

the below is from Kenanga...may differ from other providers

Fees and charges paid to PPA
PPA account opening fee --RM10.

PPA annual fee
RM8 charged to Members or the employers who make contributions on behalf of the Members. Not payable for the year the OnePRS account is opened and not payable for the year(s) where no contributions are made.

PPA pre-retirement withdrawal fee --RM25 per transaction.

PPA transfer fee (to another PRS provider) --RM25 per transaction.

PPA administration fee --0.04% per annum of the Fund's NAV.

The charges paid to the PPA as mentioned above, may be collected by Kenanga Investors Berhad acting on behalf of the PPA.

http://www.kenangainvestors.com.my/KIB/KIB...nePRS/fees.aspx

so I guess the provider may auto redeem some of the units when the time come

I talked to FSM consultant last week.

He told me that if I were to contribute again this year. I'll be charged for RM 8 annual PPA fee and will be directly deducted from the new contribution I make for this year.

Another shocking surprise is that if I contribute into Fund A from Provider A with amount A (let's say RM 1k), I'll be charged for RM 8 PPA annual fee and let's say that if I want to invest into another Fund B from Provider B with amount B (let's say RM 1k) within the same year, I'll be charged for another RM 8 PPA annual fee.

PPA fee will be directly deducted by the fund house for the new contribution.

The FSM consultant advised me to only contribute to the same fund from the same provide within the same year to avoid multiple PPA annual fee.

i though when i invest $1000,i get $1000 worth of PRS fund units.end up i only get $985 only

anyone have any idea,how they calculate this?

apparently its not like unit trust where all management fees,etc is incorporated into the unit price

From which PRS provider you bought?

Please provide more details for assessment here: PRS provider, PRS fund, NAV during purchase

Provider: CIMB Principal
CIMB Principal PRS Plus Growth A
NAV during purchase 0.5272

You bought directly from CIMB?

CIMB Bank