Private Retirement Fund, What the hell is that??
|
|
 Apr 8 2020, 01:04 PM
Return to original view | Post
#1
|
 
Senior Member
3,760 posts Joined: Oct 2005  
|
I would like to know if we withdraw RM1,500 from PRS account 2 in 2020, and subsequently perform a top-up self contribution of RM3,000 in Q4 of 2020,... will I still be entitled for a tax rebate on the RM3,000 being top-up made in year 2020?
|
|
|
|
|
|
Apr 8 2020, 01:10 PM
Return to original view | Post
#2
|
|
Senior Member
3,760 posts Joined: Oct 2005
|
QUOTE(GrumpyNooby @ Apr 8 2020, 01:04 PM) Yes Hi,PPA said the pre-retirement special withdrawal is going to be tax free:  https://www.ppa.my/wp-content/uploads/2020/...Tax-Penalty.pdf  Sorry but I am not asking about it being tax free. I wanted to withdraw the RM1,500 and later just top up another RM1,500 to make it a sum of RM3,000. This RM3,000 I plan to put back in to PRS to enjoy tax exemption in 2020. |
|
|
Dec 1 2020, 09:58 PM
Return to original view | Post
#3
|
|
Senior Member
3,760 posts Joined: Oct 2005
|
I will only pump in RM3000 every year into PRS for tax rebate purpose. Good to know it's been extended till 2025. WaNaWe900 liked this post
|
|
|
Oct 27 2022, 06:01 AM
Return to original view | Post
#4
|
|
Senior Member
3,760 posts Joined: Oct 2005
|
So far I've deposited around 30k+ in PRS and the fund seems to only breakeven now.. No gain and no loss means the fund is not generating income from money market now.
The only gain is the rm720 tax savings from putting rm3k annually into prs. |
|
|
Oct 27 2022, 08:21 AM
Return to original view | Post
#5
|
|
Senior Member
3,760 posts Joined: Oct 2005
|
QUOTE(honsiong @ Oct 27 2022, 07:49 AM) And the tax saved has to be amortised from the date you deposit till you retire, which can get you less $ than FD interest. Yes.. I am basically gambling in hoping the money market will recover and get some returns from the PRS investment, not through tax deduction. |
|
|
Oct 27 2022, 10:59 AM
Return to original view | Post
#6
|
|
Senior Member
3,760 posts Joined: Oct 2005
|
QUOTE(guy3288 @ Oct 27 2022, 09:38 AM) you dont have tax relief? that alone can get you >25%. every year also must buy min 3k If really depends on the money market. Currently the market is bad so it will be reflected in the PRS pricing. If market is good, you will start to see the profit coming back again.year end PRS 3k lo. if you put RM3k pa, may be around 10 yrs by now........ mine started around 2013 also, still +ve largely due to the more stable Affin Hwang. PRS plus very volatile, it was making more profits earlier but now almost all gone.... Diversification ma they all said so... end of the day may still kalah to FD returns..... FD sekali untung masuk, tak boleh hilang... UTs equities biasalah...sometimes buy for gimmick also la.. how can others ada we takda...buy lo cempedaklife liked this post
|
|
|
Oct 27 2022, 01:10 PM
Return to original view | Post
#7
|
|
Senior Member
3,760 posts Joined: Oct 2005
|
QUOTE(Ramjade @ Oct 27 2022, 12:55 PM) Blame China emperor xi. Shouldn't we blame America that causes all these? |
| Change to: |  0.0255sec
 0.36
 7 queries
 GZIP Disabled
Time is now: 9th December 2025 - 06:07 AM |
Quote