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 Private Retirement Fund, What the hell is that??

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AOL24
post Sep 13 2017, 01:26 PM

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QUOTE(winter-X @ Sep 8 2017, 11:30 AM)
Hey guys, I just registered a PPA account with CIMB Investment Bank without knowing FSM offer Zero Sales Charges for PRS fund.
My advice: Register to CIMB bank as it can link to your CIMB clicks (you can't link your PPA account if you registered thru CIMB Investment)

1. If I intend to buy PRS fund from FSM, do I need to register a new PPA account with them?
2. I tried to login my account thru PPA.com, I realize there is only one fund available for me to select. How to add more funds from CIMB? or from other service Provider?
3. What should I do I want to purchase funds from other service provider other than CIMB?

Thanks in advance.
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Have you tried asking FSM directly?

To answer your question 3: you would need to apply for those funds manually, getting the forms and all that. If via FSM, same concept. Need to get forms for each individual fund first, apply and submit to FSM then only proceed to buy into a fund using their online platform.
AOL24
post Sep 15 2017, 01:09 AM

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QUOTE(winter-X @ Sep 14 2017, 10:40 PM)
Thanks both sifu for replying.  notworthy.gif
The conclusion is: If want purchase a new fund, must apply manually from that particular provider. After that only can top up online.
doh.gif Troublesome process.
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Eh bro, I'm no sifu! Just applied for PRS via FSM, the beginning of this week ahahhahahahahaha
AOL24
post Oct 12 2017, 05:45 PM

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QUOTE(DevilHu1 @ Oct 12 2017, 03:18 PM)
It's my first time for PRS and decided go for CIMB Principal.

A bit confuse that I saw some of the member said that i can apply PPA A/C thought CIMB Bank instated of go thought CIMB Principal.

May i know is it true and what's the advantage register thought CIMB Bank?

I didn't own any CIMB Bank account.
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Please register via FSM, you pay 0% on sales service charge when purchasing PRS on their platform.

For more info: https://www.fundsupermart.com.my/main/prs/prsLandingPage.tpl

Disclaimer: I am only affiliated to FSM by being a customer, much like other forumers here who use their platform for Unit Trust as well as PRS. Good luck!

This post has been edited by AOL24: Oct 13 2017, 01:00 PM
AOL24
post Oct 13 2017, 12:44 PM

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QUOTE(DevilHu1 @ Oct 13 2017, 12:21 PM)
Just registered with Cimb bank,The PRS account can be opened at any CIMB branches provided u have Cimb bank account (for fund transfer).

I can’t find the FMS inside the PRS providers list,is it registered with FMS qualified for the RM1K incentive from Gov?
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It's not a provider, it works as an intermediary. Did you open the link I sent you? All the information is there, and yes, if you use them, the incentive is applicable.

Just take note of the charge you'll kena everytime you do it via CIMB.

This post has been edited by AOL24: Oct 13 2017, 12:45 PM
AOL24
post May 4 2018, 05:09 AM

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QUOTE(mephyll @ May 3 2018, 04:46 PM)
Negative.....
Email sent, waiting reply
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Please keep us updated. I applied and purchased within one fund worth RM 1K before December 2017 and have yet to receive anything as well.

This post has been edited by AOL24: May 4 2018, 05:09 AM
AOL24
post May 8 2018, 02:04 PM

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Spoke to PPA, they said the payout will be this month. Everyone can get this in writing after writing in to them personally.

So it's not an issue about the allocated budget being used up.

Few more weeks to go till May is over.
AOL24
post May 8 2018, 03:22 PM

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QUOTE(mephyll @ May 8 2018, 02:48 PM)
Thanks for the update.
they never reply my email.  shakehead.gif
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Their reply to me as follows:

"Dear PRS Member,

There are two reporting periods in each calendar year during the PRS Youth Incentive Program. The first reporting period is conducted for transactions from 1 January to 30 June and the second reporting period is conducted for transactions from 1 July to 31 December. As you have qualified for the Youth Incentive based from the records lodged by CIMB-Principal Asset Management Berhad, the incentive of RM1,000 should be credited into your PRS fund sometime in May 2018.

You do not have to apply for the incentive. PPA will monitor the eligible accounts and compile a listing of those qualified and notify the Government of the individuals eligible for this incentive.

We hope the above clarifies and should you require further assistance, kindly contact us at 1-300-131 PPA(772) between 8:30 am to 5:30 pm, Monday to Friday (except public holidays) or you can e-mail us at askPPA@ppa.my

Thank you.

Yours sincerely,

PPA





From: PRS Live
Sent: Tuesday, 8 May, 2018 1:47 PM
To: PPA <askppa@ppa.my>; ask@ppa.my
Subject: New submission from Feedback Form



This is auto-email from PRSMember.my - Contact Us"
AOL24
post Aug 12 2018, 12:55 PM

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QUOTE(windvind @ Aug 11 2018, 09:36 PM)
Good news indeed, better late then never.
Most PRS funds trading cheaper atm too.

Edit: Just checked , got my RM 1k too, deposited on 8th August.
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Lucky... Still nothing on my end. You checked via the mobile app or online?

Either way it should reflect in the current holdings automatically right? Assigned to the fund you initially purchased the RM 1K from, iinm?
AOL24
post Sep 8 2018, 09:04 AM

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Wohoo. Finally got the youth incentive credited on the 8th of August. Hope everyone gets theirs in due time!

 

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