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 Private Retirement Fund, What the hell is that??

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SUSDavid83
post Apr 6 2012, 09:12 PM

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CIMB-Principal Asset Management welcomes SC’s nod for Private Retirement Scheme providers

URL: http://www.theedgemalaysia.com/business-ne...-providers.html
SUSDavid83
post Apr 7 2012, 12:53 PM

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We have more details after since SC has started their engine for approving PRF related products.
SUSDavid83
post Apr 7 2012, 11:54 PM

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Boost to private retirement savings

PETALING JAYA: The emergence of intermediaries as providers of private retirement schemes (PRS) will provide contributors the flexibility to invest in a structured manner and boost retirement savings, according to fund managers.

URL: http://biz.thestar.com.my/news/story.asp?f...28&sec=business
SUSDavid83
post Apr 9 2012, 07:55 PM

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Guys, don't rush into anything first until approved appointed intermediaries come out with approved products.
SUSDavid83
post Jun 6 2012, 02:29 AM

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MUTB to launch several funds under retirement scheme

KUALA LUMPUR: Manulife Unit Trust Bhd (MUTB), a unit of Manulife Holdings Bhd, aims to launch several funds under the private retirement scheme (PRS), earliest, by October this year.

Read more: MUTB to launch several funds under retirement scheme http://www.btimes.com.my/Current_News/BTIM.../#ixzz1wweLJOrA


SUSDavid83
post Nov 12 2012, 01:35 PM

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SC nod for CIMB-Principal funds

CIMB-Principal Asset Management Bhd has received Securities Commission (SC)'s approval for its Private Retirement Scheme (PRS) funs, CIMB-Principal PRS Plus and CIMB Islamic PRS Plus.

Read more: SC nod for CIMB-Principal funds http://www.btimes.com.my/Current_News/BTIM...l#ixzz2Bz3T8qWA
SUSDavid83
post Nov 28 2013, 11:00 PM

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Read this:

http://www.etiqa.com.my/English/Pages/Smar...rementXtra.aspx
SUSDavid83
post Dec 8 2013, 08:29 AM

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3% equivalent to investing into PM UT using EPF right? Makes no difference! sweat.gif
SUSDavid83
post Dec 11 2013, 08:09 PM

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QUOTE(ryan18 @ Dec 11 2013, 06:33 PM)
just bought PRS today from CIMB.reason:govt $500 one-off incentive for those age between 20-30 yr old LOL!
let see if this LT investment is worth it, fingers crossed
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That is for 2014 not 2013.

Please make another contribution next year or any year between 2014 to 2018. Bravo!

URL: http://www.ppa.my/prs/whats-new/prs-youth-incentive-rm500/
SUSDavid83
post Dec 12 2013, 06:12 PM

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For the mean, it's still as it was: 8% tax penalty for pre-retirement withdrawal from Account II.

But cannot guarantee that it will not change as per speculation.
SUSDavid83
post Dec 18 2013, 06:33 PM

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QUOTE(Dennos @ Dec 18 2013, 05:14 PM)
PPA annual fee is RM8
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Not applicable for first year and on the year if no contribution is made into the particular fund.
SUSDavid83
post Jan 5 2014, 06:52 PM

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I talked to FSM consultant last week.

He told me that if I were to contribute again this year. I'll be charged for RM 8 annual PPA fee and will be directly deducted from the new contribution I make for this year.

Another shocking surprise is that if I contribute into Fund A from Provider A with amount A (let's say RM 1k), I'll be charged for RM 8 PPA annual fee and let's say that if I want to invest into another Fund B from Provider B with amount B (let's say RM 1k) within the same year, I'll be charged for another RM 8 PPA annual fee.

PPA fee will be directly deducted by the fund house for the new contribution. ohmy.gif

The FSM consultant advised me to only contribute to the same fund from the same provide within the same year to avoid multiple PPA annual fee.
SUSDavid83
post Jan 10 2014, 11:40 PM

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QUOTE(ryan18 @ Jan 10 2014, 11:32 PM)
i though when i invest $1000,i get $1000 worth of PRS fund units.end up i only get $985 only

anyone have any idea,how they calculate this?

apparently its not like unit trust where all management fees,etc is incorporated into the unit price
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From which PRS provider you bought?

Please provide more details for assessment here: PRS provider, PRS fund, NAV during purchase
SUSDavid83
post Jan 10 2014, 11:53 PM

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QUOTE(ryan18 @ Jan 10 2014, 11:44 PM)
Provider: CIMB Principal
CIMB Principal PRS Plus Growth A
NAV during purchase 0.5272
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You bought directly from CIMB?
SUSDavid83
post Jan 10 2014, 11:58 PM

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QUOTE(ryan18 @ Jan 10 2014, 11:55 PM)
CIMB Bank
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Yours is a Class A or Class C?

Service charge for Class A is 3% max and Class C is 0.5% max
SUSDavid83
post Mar 21 2014, 09:36 AM

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QUOTE(miniram @ Mar 21 2014, 09:00 AM)
Then if I buy through FSM, can I still get the 500 incentives for PRS?
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Yes. The RM 500 is from government or PPA not from PRS provider.
SUSDavid83
post Mar 31 2014, 09:27 PM

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QUOTE(w33 w33 @ Mar 30 2014, 08:34 PM)
Dear all,

Want to check:

1. If i deposit RM3k in May 2014 means I can have RM3k tac relief? This means that how much i deposit = how much is my tax relief?
2. Which institute do you use? Why?
3. If i deposit RM3k, meaning I can do it once and enjoy the tax relief for 10 years provided I do not withdraw the money right? Something similar like SSPN?

Thank you for your help smile.gif
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1. Yes. Max yearly tax relief is RM 3k
2. Research yourself
3. Yes but if you plan for premature withdrawal, you're subject to 8% tax penalty. You can still invest and enjoy the tax relief if you make new contribution within the stipulated period.
SUSDavid83
post May 26 2014, 10:02 AM

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QUOTE(perfect10 @ May 26 2014, 09:23 AM)
is there a deduction fee annually? meaning if i contribute rm1000/yr, means i only have rm800 in the following year, due to deduction of rm200 fees?
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Why are you being deducted RM 200 fee?

RM 200 out of RM 1000 is 20% rclxub.gif
SUSDavid83
post May 26 2014, 10:22 AM

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QUOTE(fuelsave @ May 26 2014, 10:21 AM)
i am 31 this year march 2014, am i still eligible to buy and get the rm500 incentive?
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NO.

Age: 21-30
SUSDavid83
post May 26 2014, 02:12 PM

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QUOTE(Hapeng @ May 26 2014, 01:52 PM)
lol simply quote the figure or what..
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Let's wait for perfect10 to reply.

I'm not the originator for this question.

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