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 Private Retirement Fund, What the hell is that??

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Denis
post Jul 20 2012, 11:10 AM

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QUOTE
To encourage savings under the scheme, individuals are granted tax relief of up to RM3,000 and employers are provided with tax deduction on contributions to the PRS on behalf of their employees above the statutory rate of 19%.

A total of 24 funds will be managed by eight Private Retirement Schemes providers which would be available to the public this September.


No concrete detail regarding the PRS investment structure, e.g. return, contribution, risk and so on.
How are we going to invest? rclxub.gif
Denis
post Jul 21 2012, 11:24 AM

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QUOTE(idoblu @ Jul 21 2012, 10:38 AM)
the tax relief is only up to 10 years. after 10 years makan sendiri
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Any link to confirm that relief up to ten years only
Tax relief for individual.
RM3000 tax relief. If MR A buys RM3000 for every year for ten years =RM30,000 total investment for PRF. Divest other funds to other investments.

So, total tax saving for Mr. A=RM30,000x26%=RM7800.

Cost = RM30k-RM7.8k=RM22.2k

This post has been edited by Denis: Jul 21 2012, 11:31 AM
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