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 Private Retirement Fund, What the hell is that??

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Ramjade
post Jan 24 2024, 05:04 PM

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QUOTE(Davidtcf @ Jan 24 2024, 03:50 PM)
thanks.. ok will try FSM One as you mentioned. Thanks  thumbup.gif

i dont mind higher risk. 55 yrs only can withdraw so no issue. As long the PRS fund make good choices.

ya I keep read through Versa's offering but I'm not convinced, so much exposure to the wrong things.

hopefully can keep claim via efilling 3k every year.. else really no point to open one.
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I didn't compare islamic fund though. I just compare conventional funds. But to be honest prs usually sucks.
kunimi
post Jan 24 2024, 05:39 PM

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Btw i just realize everytime i contributed PRS via FSM one RM3000, the actual value is only RM2992, a deduction of RM8.

I remember it was only RM1 or Rm2 correct me if i am wrong.
Ramjade
post Jan 24 2024, 05:50 PM

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QUOTE(kunimi @ Jan 24 2024, 05:39 PM)
Btw i just realize everytime i contributed PRS via FSM one RM3000, the actual value is only RM2992, a deduction of RM8.

I remember it was only RM1 or Rm2 correct me if i am wrong.
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As long as you contribute into a previous fund, you will be charged annual3fee if RM8.00. I think it is by PPA?
victorian
post Jan 24 2024, 06:02 PM

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QUOTE(kunimi @ Jan 24 2024, 05:39 PM)
Btw i just realize everytime i contributed PRS via FSM one RM3000, the actual value is only RM2992, a deduction of RM8.

I remember it was only RM1 or Rm2 correct me if i am wrong.
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It has always been RM8 annual fee.

New fund house = no charge
Existing fund house = RM8
thecurious
post Jan 24 2024, 07:10 PM

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QUOTE(kunimi @ Jan 24 2024, 05:39 PM)
Btw i just realize everytime i contributed PRS via FSM one RM3000, the actual value is only RM2992, a deduction of RM8.

I remember it was only RM1 or Rm2 correct me if i am wrong.
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QUOTE(Ramjade @ Jan 24 2024, 05:50 PM)
As long as you contribute into a previous fund, you will be charged annual3fee if RM8.00. I think it is by PPA?
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QUOTE(victorian @ Jan 24 2024, 06:02 PM)
It has always been RM8 annual fee.

New fund house = no charge
Existing fund house = RM8
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RM 8 charged by PPA per existing fund house if there is PRS contribution into the fund house for the year.
First year into new fund house no fee.
ronnie
post Jan 24 2024, 10:19 PM

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So i should invest a new fund house each year to save RM8 fee then.

is it per fund or per fund house ?
!@#$%^
post Jan 24 2024, 11:07 PM

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QUOTE(ronnie @ Jan 24 2024, 10:19 PM)
So i should invest a new fund house each year to save RM8 fee then.

is it per fund or per fund house ?
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per fund house. u might save rm8, but u might lose out on the returns. choose a good fund.
Ramjade
post Jan 24 2024, 11:55 PM

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QUOTE(ronnie @ Jan 24 2024, 10:19 PM)
So i should invest a new fund house each year to save RM8 fee then.

is it per fund or per fund house ?
*
Please no. Just pay the RM8.00 and buy a good fund and stick with it. Of course every now and then review it. Eg I was with principal Asia Pacific prs. While it was a good fund when I purchased it. Not so much in these few year thanks to emperor xi.
dannygoh
post Feb 28 2024, 11:24 AM

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I own a small business. I have maxed out the EPF for employee and employer contribution to myself.

Can my business pay Private Retirement Schemes to myself?

Objective is for my own retirement funds and hope my business can pay lesser taxed after Private Retirement Schemes to employee like myself?
MUM
post Feb 28 2024, 11:30 AM

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QUOTE(dannygoh @ Feb 28 2024, 11:24 AM)
I own a small business. I have maxed out the EPF for employee and employer contribution to myself.

Can my business pay Private Retirement Schemes to myself?

Objective is for my own retirement funds and hope my business can pay lesser taxed after Private Retirement Schemes to employee like myself?
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Googled and found this, ....
Hope your company is eligible, ...

https://www.ppa.my/joining-prs/prs-for-employers/
leanman
post Feb 29 2024, 01:02 PM

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My current fund isn’t making good money lately. Any good other fund out there?
Cubalagi
post Feb 29 2024, 01:07 PM

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QUOTE(leanman @ Feb 29 2024, 01:02 PM)
My current fund isn’t making good money lately. Any good other fund out there?
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What's ur current PRS fund?
leanman
post Feb 29 2024, 03:09 PM

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QUOTE(Cubalagi @ Feb 29 2024, 01:07 PM)
What's ur current PRS fund?
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I have Kenanga and AIA
CommodoreAmiga
post Feb 29 2024, 03:20 PM

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This post has been edited by CommodoreAmiga: Feb 29 2024, 03:21 PM
Ramjade
post Feb 29 2024, 05:25 PM

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QUOTE(leanman @ Feb 29 2024, 01:02 PM)
My current fund isn’t making good money lately. Any good other fund out there?
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I already shared what fund to pick. Keep in mind my risk level and your risk level is different. So what I want may not what you want.
!@#$%^
post Feb 29 2024, 06:31 PM

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QUOTE(leanman @ Feb 29 2024, 01:02 PM)
My current fund isn’t making good money lately. Any good other fund out there?
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in fact i think the last 2 months, most of the funds making up a lot of the previous loss. for me, about 8-12% in the last 3 months for growth funds.
Cubalagi
post Mar 1 2024, 03:33 PM

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QUOTE(leanman @ Feb 29 2024, 03:09 PM)
I have Kenanga and AIA
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Those are the asset managers not the funds itself.

But assuming yours are the equity prs, you should see some ok performance so far this year. Maybe you can consider not making any changes.
guy3288
post Mar 1 2024, 06:08 PM

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QUOTE(ronnie @ Jan 24 2024, 10:19 PM)
So i should invest a new fund house each year to save RM8 fee then.

is it per fund or per fund house ?
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No need lah...

QUOTE(leanman @ Feb 29 2024, 01:02 PM)
My current fund isn’t making good money lately. Any good other fund out there?
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Share your PRS lah.


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mynewuser
post Mar 14 2024, 08:32 AM

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Any idea how the interest being calculate.

I invest in PRS for 9 year. But the total interest earn is only 7% for the whole 9 year period. Mean every year interest earn less than 1%. How about others?
MUM
post Mar 14 2024, 08:46 AM

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QUOTE(mynewuser @ Mar 14 2024, 08:32 AM)
Any idea how the interest being calculate.

I invest in PRS for 9 year. But the total interest earn is only 7% for the whole 9 year period. Mean every year interest earn less than 1%. How about others?
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PRS funds has no sure profits or interest to be earned every year UNLIKE bank's FD.

There is a possibility of them make losses in any given year too

Most invested in PRS funds for the tax saving
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