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 Private Retirement Fund, What the hell is that??

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!@#$%^
post Jan 5 2024, 10:12 AM

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QUOTE(tehoice @ Jan 5 2024, 10:04 AM)
if the tax relief is only until 2025
hope the market is bad for this period until we fully utilise the relief, so we can buy it at a lower cost/cheap.
*
that would mean ur previous 'earnings' will drop too
tehoice
post Jan 5 2024, 10:48 AM

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QUOTE(!@#$%^ @ Jan 5 2024, 10:12 AM)
that would mean ur previous 'earnings' will drop too
*
<from my perspective only>
a few years drop is fine, as i have another 20++ years to go before I can withdraw from the PRS. so I guess there would be enough time for it to grow over time, substantially.

However, the same cannot be said to you, if you are retiring in the next couple of years.
ronnie
post Jan 5 2024, 11:01 AM

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How fast can we get Tax Relief PRS statement from our PRS provider ? Is there a special place to download it ?
Or do we get from PPA.my ?
Ramjade
post Jan 5 2024, 11:48 AM

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QUOTE(ronnie @ Jan 5 2024, 11:01 AM)
How fast can we get Tax Relief PRS statement from our PRS provider ? Is there a special place to download it ?
Or do we get from PPA.my ?
*
Contact your PRS provider via customer service via email. For me principal is very fast. Email 1 working day get reply already. But 2023 statement not ready yet.
ronnie
post Jan 5 2024, 12:11 PM

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QUOTE(Ramjade @ Jan 5 2024, 11:48 AM)
Contact your PRS provider via customer service via email. For me principal is very fast. Email 1 working day get reply already. But 2023 statement not ready yet.
*
AHAM has the statement function for any customised period.
Can that be used or there's special LHDN approved version ?
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post Jan 5 2024, 12:22 PM

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QUOTE(ronnie @ Jan 5 2024, 12:11 PM)
AHAM has the statement function for any customised period.
Can that be used or there's special LHDN approved version  ?
*
AHAM will send u official receipt after purchase
ronnie
post Jan 5 2024, 12:23 PM

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QUOTE(!@#$%^ @ Jan 5 2024, 12:22 PM)
AHAM will send u official receipt after purchase
*
Do we use that "deposit receipt" or is there a special LHDN approved statement ?
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post Jan 5 2024, 12:28 PM

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QUOTE(ronnie @ Jan 5 2024, 12:23 PM)
Do we use that "deposit receipt" or is there a special LHDN approved statement ?
*
no such thing as special approved statement. lhdn just wants proof from the provider instead of any 3rd party such as fsm or eunittrust.
tehoice
post Jan 5 2024, 12:44 PM

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Private Pension Administrator owned by?
ronnie
post Jan 5 2024, 12:58 PM

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QUOTE(tehoice @ Jan 5 2024, 12:44 PM)
Private Pension Administrator owned by?
*
Launched together with the establishment of the PRS on 18 July 2012 by Malaysia’s 6th Prime Minister, Dato’ Sri Mohd Najib Tun Abdul Razak, PPA is a body approved by the Securities Commission Malaysia to protect PRS members’ interests and educate the public on PRS.
Ramjade
post Jan 5 2024, 01:00 PM

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QUOTE(ronnie @ Jan 5 2024, 12:11 PM)
AHAM has the statement function for any customised period.
Can that be used or there's special LHDN approved version  ?
*
As long as got AHAM letterhead/symbol should be no problem.
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post Jan 5 2024, 01:13 PM

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QUOTE(Ramjade @ Jan 5 2024, 11:48 AM)
Contact your PRS provider via customer service via email. For me principal is very fast. Email 1 working day get reply already. But 2023 statement not ready yet.
*
mine kept being delayed because of the prs policy id which i have no idea what that is
Ramjade
post Jan 5 2024, 01:19 PM

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QUOTE(!@#$%^ @ Jan 5 2024, 01:13 PM)
mine kept being delayed because of the prs policy id which i have no idea what that is
*
Just shoot customer service an email. Unless their customer service is same as their brokerage then good luck. I don't have any reply from affin hwang brokerage customer service. Lol.

This post has been edited by Ramjade: Jan 5 2024, 01:20 PM
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post Jan 5 2024, 01:28 PM

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QUOTE(Ramjade @ Jan 5 2024, 01:19 PM)
Just shoot customer service an email. Unless their customer service is same as their brokerage then good luck. I don't have any reply from affin hwang brokerage customer service. Lol.
*
already did. i gave my name, my ic, my address and my ppa account number. then the fella said cannot verify cus no prs policy id. the thing is i never received any receipt or statement directly from PRS. trying to be funny i guess.
Ramjade
post Jan 5 2024, 01:28 PM

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QUOTE(!@#$%^ @ Jan 5 2024, 01:28 PM)
already did. i gave my name, my ic, my address and my ppa account number. then the fella said cannot verify cus no prs policy id. the thing is i never received any receipt or statement directly from PRS. trying to be funny i guess.
*
You buy using versa?
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post Jan 5 2024, 01:34 PM

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QUOTE(Ramjade @ Jan 5 2024, 01:28 PM)
You buy using versa?
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fsm
Ramjade
post Jan 5 2024, 01:38 PM

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QUOTE(!@#$%^ @ Jan 5 2024, 01:34 PM)
fsm
*
I suggest you ask them where to get this prs policy id. Cause you give IC and PPA number should be enough la.

This post has been edited by Ramjade: Jan 5 2024, 01:42 PM
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post Jan 5 2024, 01:45 PM

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QUOTE(Ramjade @ Jan 5 2024, 01:38 PM)
I suggest you ask them where to get this prs policy id. Cause you give IC and PPA number should be enough la.
*
yup. so incompetent these ppl.
ronnie
post Jan 5 2024, 03:06 PM

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QUOTE(Ramjade @ Jan 5 2024, 01:28 PM)
You buy using versa?
*
Buy PRS via Versa is super easy... true paper less (except nomination)
Then can get AHAM statement for Tax Relief.

There's another Annual Statement when you logon to your PPA account...still empty for 2023

This post has been edited by ronnie: Jan 5 2024, 03:10 PM
tehoice
post Jan 5 2024, 03:12 PM

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QUOTE(ronnie @ Jan 5 2024, 12:58 PM)
Launched together with the establishment of the PRS on 18 July 2012 by Malaysia’s 6th Prime Minister, Dato’ Sri Mohd Najib Tun Abdul Razak, PPA is a body approved by the Securities Commission Malaysia to protect PRS members’ interests and educate the public on PRS.
*
that's why i believe there should not be any reason why LHDN cannot rely on the statement issued by PPA as supporting.

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