Welcome Guest ( Log In | Register )

Bump Topic Add Reply RSS Feed

Outline · [ Standard ] · Linear+

 Private Retirement Fund, What the hell is that??

views
     
1tanmee
post Sep 25 2016, 12:48 AM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
To be eligible for the youth incentive programme, it is so long as it hits the 1k gross investment amount, right? i mean, doesn't matter if the amount is paid lump-sum or in a few payments?
1tanmee
post Sep 25 2016, 10:43 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
QUOTE(T231H @ Sep 25 2016, 06:02 PM)
PPA will credit the RM500 into your PRS fund(s) after the cut-off date of end June and December every year from 2014 to 2018.
https://www.fundsupermart.com.my/main/resea...tive-RM500-4558

not sure if your 30/6 contribution can make it to the end June date line.....
heard it from past forummers some time back is that, the incentive $$ would be credited in 4 months after the date line
*
the incentive is given auto, right? i mean, no need to fill up other forms to inform that the requirement is now fulfilled?
1tanmee
post Oct 9 2016, 09:08 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
What are the charges incurred to maintain FSM account?
fyi, recently registered with FSM, and subscribed to the PRS.

Was charged RM10.60, to which I was told is one-off.

What about the other charges? For argument's sake, i am not planning to increase/transfer/switch/decrease anything.
1tanmee
post Nov 22 2016, 09:19 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
QUOTE(Ah SiAnG @ Oct 21 2016, 10:03 PM)
The last I saw the fund size for PRS funds in Fundsupermart aren't large actually.

Maybe that's the reason the youth incentives is being increased from RM500 to RM1K to attract more youth to invest in PRS.
*
I assume this is declared in the recent Budget tabling? Where can I get more reading on this?
1tanmee
post Nov 22 2016, 09:43 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
QUOTE(Ah SiAnG @ Oct 21 2016, 07:18 PM)
2017 Budget Speech

189. To encourage youths to make long-term investment, the Government will introduce Private Retirement Scheme (PRS).

190. Effective 2017, the Government proposes to introduce a one-off increase of the existing RM500 incentive to RM1,000 to PRS contributors with a minimum accumulated investment of RM1,000 during the period of two (2) years. For this, an allocation of RM165 million will be provided.

This increased incentive is only for 1st time contributors?  hmm.gif
*
thanks T231H.

I just opened my PRS account, contributed gross accumulated investment of RM1,000 to one pension fund.
I did this a few months before turning 31, and have not received my incentive yet. To confirm... will my incentive be RM1,000 or RM500?
1tanmee
post Nov 22 2016, 10:54 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
QUOTE(1tanmee @ Nov 22 2016, 09:43 PM)
thanks T231H.

I just opened my PRS account, contributed gross accumulated investment of RM1,000 to one pension fund.
I did this a few months before turning 31, and have not received my incentive yet. To confirm... will my incentive be RM1,000 or RM500?
*
QUOTE(T231H @ Nov 22 2016, 09:48 PM)
RM 1000 starts new year.....
so looks like those that had reached a first contribution amount of RM 1000 before end of 2016 will only gets RM500 youth incentives

btw, what is "one pension fund.?"
which PRS providers provides that?
*
I have no choice, coz I am reaching 31 in 2016. So it looks like no RM1,000 for me.
"one pension fund" ain't a pension fund, but rather a pension fund, lol
1tanmee
post Dec 6 2016, 11:33 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
For the youth incentive program, I reached the requirement in late oct'16. When would I get the RM500?
1tanmee
post Jan 1 2017, 11:47 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
Was made aware that the Govt is increasing the Youth Incentive Scheme from 500 to 1k. Any credible source for this?
1tanmee
post Jan 2 2017, 01:41 AM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
QUOTE(1tanmee @ Jan 1 2017, 11:47 PM)
Was made aware that the Govt is increasing the Youth Incentive Scheme from 500 to 1k. Any credible source for this?
*
QUOTE(MUM @ Jan 1 2017, 11:54 PM)
hmm.gif  it feels good to be able to know how to use GOOGLE.

I found this on google....
http://www.ppa.my/wp-content/uploads/2016/...ive-ppa.my_.pdf
*
Hahhahaa. Perhaps I should re-phrase it; what I meant was, what would be the criteria to be eligible for the scheme.
I suppose it is the same the current Youth Incentive Scheme -- the only difference would be the amount given.

Read-through the PPA website, but it hasn't reflect the changes made during the Budget 2017 tabling.
1tanmee
post Jan 2 2017, 06:21 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
QUOTE(chunnyen17 @ Jan 2 2017, 04:12 PM)
every year can only pay rm3k?
*
Suka hati you how much you want to put into the funds, but the tax relief is capped to RM3,000 only
1tanmee
post Jan 2 2017, 06:25 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
"Notice from PPA (26/10/2016)

PPA shall update the information on PRS Youth Incentive pursuant to the Budget 2017 announcement once we have received final confirmation from the relevant authorities. For further enquiries, please call 1300-131-772 (PPA)"


Link refers: http://www.ppa.my/prs/prs-youth/prs-youth-incentive/

PRS website has yet to reflect the latest Budget 2017 tabling. I hope it is revised soonest, for clarity sakes to others, in deciding on whether to take up the PRS.
1tanmee
post Jan 2 2017, 10:10 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
^ Hasn't it already?
1tanmee
post Jan 15 2017, 09:55 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
QUOTE(zestsc1028 @ Jan 6 2017, 08:22 PM)
Just notice that the PRS website was updated.
So it is official now that the Youth Incentive has increased from RM500 to RM1000.
thumbup.gif  rclxms.gif  biggrin.gif

[attachmentid=8368856]
*
QUOTE(rapple @ Jan 9 2017, 11:27 AM)
Updated source: http://www.ppa.my/prs/prs-youth/prs-youth-incentive/
*
tks for the update!
1tanmee
post Jan 18 2017, 10:51 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
QUOTE(zzzhhhzzz @ Jan 16 2017, 08:44 AM)
are we still eligible for the RM1000 incentive if we have already receive the RM500 incentive earlier ?
*
no
1tanmee
post Jan 20 2017, 09:45 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
Attached Image

This would have eaten into the value of the investment, right? So technically if the annual return is 2%, then the actual return would be lesser. Is my understanding correct? Plus, the fees and charges would be incurred, whether or not the investment is making +return.
1tanmee
post Jan 22 2017, 09:05 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
QUOTE(Ramjade @ Jan 22 2017, 05:55 PM)
But you cannot remove that RM1k right? devil.gif
*
One cannot remove the RM1k, but on the plus side, can get compunding interest on the 1k, hohohoho
1tanmee
post Jan 30 2017, 04:53 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
This fund any good? https://www.fundsupermart.com.my/main/fundi...h-Fund-MYHPRSAF

I am also not sure what the tables meant, can anyone explain it to me?

Attached Image

This post has been edited by 1tanmee: Jan 30 2017, 04:53 PM
1tanmee
post Feb 11 2017, 08:17 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
Invested Gross RM1,000 in Oct'16, just before I reached 31. Haven't seen the Youth Incentive Scheme of RM500 yet. It has been +-4 months already.

Question is, how long does it usually take for the money to be given?
1tanmee
post Feb 11 2017, 08:51 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
QUOTE(xuzen @ Feb 6 2017, 11:47 AM)
AIA suxs!

PM PRS suxs!
*
QUOTE(Ramjade @ Feb 7 2017, 08:50 PM)
The 3 good funds
Cimb PRS Asia Pacific
AmPRS REITS
KenangaPRS one (only pick this if you are confident with Malaysian economy)
*
xuzen / Ramjade, may we have your thoughts on Affin Hwang Growth/Moderate funds?
1tanmee
post Feb 14 2017, 08:35 PM

~noMNom~
*****
Senior Member
970 posts

Joined: Jul 2016
QUOTE(1tanmee @ Feb 11 2017, 08:17 PM)
Invested Gross RM1,000 in Oct'16, just before I reached 31. Haven't seen the Youth Incentive Scheme of RM500 yet. It has been +-4 months already.

Question is, how long does it usually take for the money to be given?
*
It should be credited some time in feb'17....
« Next Oldest · Finance, Business and Investment House · Next Newest »
 

2 Pages  1 2 >Top
Add ReplyOptions
 

Change to:
| Lo-Fi Version
 0.1166sec    0.46    7 queries    GZIP Disabled
Time is now: 14th December 2025 - 10:40 PM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.