I am just curious because I am already a max tax deduction into PRS for 2 years in a row already. :-

1. My parents are still working and are in their 58 and 57 years old respectively. Should I advise them to put RM3k into PRS every year and withdraw the PRS account in 1-2 years time. Their tax bracket is 16% currently.

2. Would this be allowed as this is bypassing the tax system and saving 16% of RM3000 in a short period of time as they are retirement age & eligible to withdraw from PRS.

I have a friend working in the fund investment industry. He said all the fund managers are gamblers. They are not much better than your gamblers in Genting. They just have more tools, algorithms and softwares to aid them.

I guess I am going to start picking passively managed fund instead of actively

I second performance based management fee. In addition if the fund goes negative performance, switching fee and exit fee should be free

Yes, I am doing that on behalf for my parents. I don't suggest taking out every year because PRS is a good platform to invest because multitude choices of unit trust, quite conservative, and 0% initial & withdrawal charges. Unless you have an investment that yields > 6% with relatively low risk.

If top up via PPA, do we still have to pay the sales charge of 3% to the bank?

Or is it better to top up purchase via FSM?

Buy Bitcoin lah. Fastest way to get rich

Don't end up become father of the single mother child, can already. 3% sales charge is pocket change.