No. Prs is aimed to keep until you retired. Unless you don't mind being penalised.

so when does my rm500 comes in?

was thinking too good to be true. thought of asking further info on this.

because i thought it's benefit ma. every year as long got save 1k, give u rm500. lol

silly me

RM500 is given once for lifetime, so it is not something too good to be true
i believe just a strategy to build the awareness of PRS and attract ppl to buy......

Personally, i would say PRS just something like EPF in voluntary basis and giving you additional tax deduction

then, when will they give ? 1st year? i think there's penalty too if give u rm500 then i cancel lol

there's a penalty regardless of the RM500.

Just wanna know... I've been investing in Hwang PRS for the past year thru FSM... How do i get the tax deduction for my income tax filling? WIll they automatically email to me or do i need to fill in some procedure to get it?

Thanks in advance...

I think for BE form...under F17 there is a "fill in the blank..the figure" (F17 is in for BE 2013 form)

http://www.hasil.gov.my/goindex.php?jboran...1&Submit=Search

Thx for the info... what i meant to say is do I need to wait for HwangIM to send me the tax deduction voucher, or i just deduct the amount i invested for the past 1 year (Max. RM3000)?

Deduct 1st n follow-up later

I dun wait for Hw to send.....I claim first....
if LHDN want to hv proof...they can just type in my IC into their system to know.....
if they wanted a hard copy....I can get from hw.
I dun know about others

hwang already send the annual statement at the beginning of the year stating how much you invested. the PRF admin PPA also email me a statement for 2013 , last week.

Dear all,

Want to check:

1. If i deposit RM3k in May 2014 means I can have RM3k tac relief? This means that how much i deposit = how much is my tax relief?
2. Which institute do you use? Why?
3. If i deposit RM3k, meaning I can do it once and enjoy the tax relief for 10 years provided I do not withdraw the money right? Something similar like SSPN?

Thank you for your help

I'm new to PRS. Few doubts I have in mind before I go ahead to apply this scheme. Sicne I don't have a Retirement plan yet.

1. If the PRS bank/company have some problem and close shop, is it have some protection like what our FD have (Protection under PIDM) ??

2. How secure is this thing. Would it be better than those mutual fund thing?

3. Want confirm the yearly amount invested I can depend how much I want to pour in. If they not doing good, I may just stop pouring money into the account.

4. As I see, they seems to mentioned about the charges. I found this in CIMB.
Is this true that we have to pay Annual fee of RM8?? And all those unknown thing.

What are the fees charged by CIMB-Principal?
Sales charge: Up to 3% of net asset value ("NAV")
Account opening fee: RM40 (currently waived)
Annual management fee: Range from 1.40% to 1.50% per annum of NAV
Transfer PRS Provider Fee: Up to RM75
Annual trustee fee: Up to 0.04% per annum of NAV
Switching fee: Nil
Change of contribution direction fee: Nil


What are the fees charged by the PPA?
PPA account opening fee: RM 10 (currently borne and paid by CIMB-Principal)
PPA annual fee: RM8
PPA pre-retirement withdrawal fee: RM25
PPA transfer PRS provider fee (to another PRS provider): RM25
Annual PPA administration fee (accrued daily based on the NAV of the fund and paid monthly): 0.04% of the fund’s NAV

This post has been edited by knight: Mar 30 2014, 10:27 PM

1. Yes. Max yearly tax relief is RM 3k
2. Research yourself
3. Yes but if you plan for premature withdrawal, you're subject to 8% tax penalty. You can still invest and enjoy the tax relief if you make new contribution within the stipulated period.

3. Tax relief is only applicable for new funds invested in that year. E.g. If you invest 3k this year, and nothing next year, you can only claim tax relief for 2014, and not 2015.

Yes, and similar to SSPN too. Can only claim what you have invested in that particular year.

Can anyone justify this?

what i heard from friends is that this PRS scheme taxed you by the time you retired and trying to get your money back. they will tax you according to the money you withdrawn as your income. And thats why my friend stop deposit money into PRS anymore.

Justify or clarify?

If clarify - done already.
It's a misunderstanding mostly except for the 8% whacking if U take out from account B before 55
http://www.ppa.my/prs/prs-faqs/ look at withdrawals

Justify?
sorry - i dont think anyone in LYN can or needs to justify kaka to U

haha thanks for clarifying...

any sifu know well about Great Eastern's Great Premier Wealth?

an agent kept insisting the accumulation rate of the cash bonus left with GE is guaranteed at 5% p.a.

but from what i read in the document, it is based on the performance of the participating funds...