Q: Who is eligible for the PRS Youth Incentive RM500?

A:
• For Malaysians only.
• Aged 20 and above but have yet to reach the age of 31.
• Accumulate a minimum gross investment amount of RM1,000 in a single PRS fund of a single PRS provider within a calendar year, between 2014 till 2018.
• Contributions from employers are excluded from this incentive program.
Scenario
Mr. A will be turning 31 on 27 December 2014. He has invested RM1,000 gross amount in PRS X on 27 November 2014. Mr. A will be entitled to the RM500 incentive from the Government as he made the contribution when he was 30 years old and within the period of 2014 to 2018.*
*Kindly make your contributions at least 1 month before your 31st birthday to allow your application to be processed in time for you to be eligible for the RM500 incentive.

Q: What are the benefits of contributing to a PRS?
A: Individual who contribute to a PRS can enjoy up to RM3,000 tax relief per year of assessment. (up till year 2021)

Q: Can I withdraw the RM500 incentive?

A: No as the RM500 incentive will be credited into your sub-account A, which can only be withdrawn when you retire at 55 years old.

https://www.fundsupermart.com.my/main/faq/1...eme-PRS--8865#8

PRE-RETIREMENT WITHDRAWALS (If you are below 55)
http://www.ppa.my/prs/prs-faqs/

yes if u r not malaysia citizen anymore u can withdraw it

Ya, my tax relief part will be either on 21 or 24%. So, for 3k, it will be 600-700++. I was thinking, how about I just invest 900 for this year, and next year only put in another 3k. So, at least I can get tax relief of 900 and 1k incentive in 2017 right?

Can I withdraw from my EPF to contribute to the PRS?
The PRS is a supplementary form of retirement savings in addition to the EPF and is voluntary in nature. Members are not permitted by law to withdraw from EPF to contribute to the PRS.
http://www.ppa.my/prs/prs-faqs/

unless you can meet the T&C for withdrawal from EPF...ex...reached retirement age.

to see the performance of the PRS funds
http://www.ppa.my/getting-started/funds-re...nd-performance/

Guys, for the rm1k gov incentive is for next year deposit right?
Is there any way to deposit this year and also get it? So can get both gov incentive and tax relief entitlement.
Thanks.

Fromngov incentive is rm1k right, rm500 incentive from where.

@CSM189
the method works. I just called PPA and asked, to qualify for the 1k, you need to invest 1k (firstever reached) in between 2017 and 2018, then u are eligible for the 1k.
Gonna top up RM900 for this year for tax relief

Your method sure works, if the PPA guy never cheat me
I just shipped my form too today
Yours not sure.. better call PPA and ask, by right you should entitle.
http://www.ppa.my/prs/prs-youth/eligibility-requirements/

Your method sure works, if the PPA guy never cheat me
I just shipped my form too today
Yours not sure.. better call PPA and ask, by right you should entitle.
http://www.ppa.my/prs/prs-youth/eligibility-requirements/

A last minute update about PRS promo, Ambank has finally replied my promo inquiries 10 days after submission:

"Dear Lim,
           
First of all, thanks for your email enquiry about our AmPRS Funds.

Currently we also running a PRS campaign as below:

We are having a PRS Campaign from 15 Aug 2016 to 29 December 2016
ü  RM20 Starbuck Card + RM30 movie vouchers , when you invest RM3,000
ü  RM20 Free unit / RM20 Starbuck Card, when you invest RM1,000
ü  0% sales charge for you and your friends and family"

Too bad I had topped my PRS 7 days ago, those who aint buy anything, can refer to pauline-chia@ambankgroup.com

not sure dude, send her a mail, said someone called Lim mentioned her

Good strategy, did she confirmed the 1k gov incentive thingy?

Just notice that the PRS website was updated.
So it is official now that the Youth Incentive has increased from RM500 to RM1000.
   

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PRS got promotion period? Whats the deal last time?

RHB
PB
CIMB

Which fund the best ?

unknown to what is your definition of "best"
I can just direct you...
if you looking for performance.....try this?

(for all funds)
http://gllt.morningstar.com/e6qvxuu98r/fun...B&tab=ShortTerm

(for non PM funds)
https://www.fundsupermart.com.my/main/resea...mber-2016--7772

U buy from what PRS provider?