Who said you do not buy? You can call it buy/parking but you need to fork out money for it first and you will be given units hence it's still buying.

You pay income tax, what do you get back after 30 years? Zip, nil nothing aka your money is gone for good.

Now, considering if you were continue putting in money into PRS Rm3k/year into PRS. After 30 years, you should get back RM90k + whatever extra the fund makes.

That's why you must choose a good fund. Even a lousy fund which give you FD rates will return you > RM90k after 30 years.

RM10.60 is the activation fee charged by PPA. Yes. Still can get rm1k. Of course, age must qualify.

Depending on when you topup. Govt will pay out 2x a year one lump sum. Depending which date is the nearest to your buying date. Best to ask FSM CS. They told me before but I forgotten as who cares about it once money masuk.

You buy from Cimb online, kena charge 3%. Buy FSM don't kena charge.

Never trust what the fund house people say. They always say their product is the best. Do your own research or ask independent people who have no conflict of interest.

Precisely. Once they stop the tax relief, I am not going to contribute anymore.

Keep in mind that you need to manually mail FSM all the application form.

Just wait 1 week la. Normal what. Lots of paperwork.

It's because their performance is subpar(when compared to other funds). Having 2 PRS fund means you are paying 2x annual fees.

Your option
1) transfer out your public mutual into cimb
2) buy another Cimb PRS (which means you are paying 3x annual fees)

Yes. Need to submit IC as now you are opening account with cimb principal.

If got tax relief, takkan you don't want to topup and forgo the tax relief?

Yes.

Still can. Take about 1-2 week for account opening.

Which bank is the best? Avoid banks as they will charge you 3%. Use FSM MY or eUT Malaysia Most PRS funds suck. You should not be thinking just for tax deduction. You should think about
1) tax dedeuction
2) able to beat EPF

This post has been edited by Ramjade: Dec 5 2017, 05:20 PM

Stay far away from anything related with public mutual. Their performance is subpar. If you want to make your money work, best advise to pick a fund that can perform.

Better to have a fund which can perform rather than a fund which have a history of not performing at all.

Thinking to add my cimb prs seeing that asia funds aee in the red.

I think the drop is big enough for me yet.

Typo.

I think the drop is not big enough for me yet.

Around 10% will start to deploy large amount rather than small rm100-200. (this is for PRS)

For SG one same. 10% drop deploy larger amount. Otherwise, hold.

Just open account with FSM or eUT la. Apa agent-agent. Make payment the night before you go to work or study.
Next day when you come back, transaction is fulfilled.

This post has been edited by Ramjade: Dec 11 2017, 04:21 PM

It's just drop in the letter box and postman will do everything for you...

This post has been edited by Ramjade: Dec 11 2017, 05:00 PM

I use FSM. Use either FSM or eUT. They are the cheapest in Malaysia at 0% service charge. Walking into cimb and cimb principal is 2 different thing. As cimb is the seller/agent.

Do it for me means you gonna buy few funds and cimb will "supposedly handle the switches" do it myself allow you to just buy one fund. Keep in mind the more funds you have, the more annual fees you need to pay if there is even one transaction in that fund for the entire year.

No need to wait for friends. Most people lead the YOLO life. Hence by the time they realise they need savings, it's too late.

PPA will send you letter. FSM got nothing to do with PRS as they just provide you platform to buy and sell. When you open PRS account, you own the PRS. Hence you deal directly with PPA and the PRS fund house.

Of course. I look at the fund which I want to buy which for PRS isn't much.

Just pick one fund. No need to look so much