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Private Retirement Fund, What the hell is that??
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ftan
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Dec 22 2012, 09:07 AM
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Hi,
Been roughly following this thread but I may miss out something. I'm still a noob; so bear with me.
So, is this PRS need to pay till retirement age once you sign up for it? Ex: Auto-deduct 3k every year.
Or I just go and buy any amount I want at anytime every year.
Appreciate the feedback. Thank you.
ftan
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ftan
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Dec 23 2012, 05:34 AM
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QUOTE(magika @ Dec 22 2012, 10:17 PM) I think maximum according to KWSP is RM60k per year. Thanks.
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ftan
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Dec 27 2012, 06:07 PM
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QUOTE(creativ @ Dec 23 2012, 06:36 PM) I would advise you to stick to unit trust. It's just not worth it to have your money stuck in PRS for 31 years (i.e. until you're 55 yrs old) for a mere 12%/19% tax relief (mind you, this tax relief is only until 2021, after that no more relief!) Added on December 23, 2012, 6:40 pmHi ftan, You can buy any amount you want, but most people will put max 3000 year to take advantage of the tax relief. If you have more than 3000 to invest, don't put the remaining in PRS. Put it somewhere else. Thank you. I was thinking of that purely for the tax relief. I got an SMS from great eastern about prs. Does anyone know about it? Is it more conservative compared to what the banks are offering?
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ftan
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Dec 29 2012, 08:08 PM
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QUOTE(creativ @ Dec 27 2012, 11:40 PM) Hi ftan, Great Eastern is not a PRS Provider (as of today) List of PRS ProvidersThanks for the update. I'm wondering why GE send me SMS to say it was. It's not by personal agent but from 600x number. Weird.
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ftan
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Dec 29 2012, 08:57 PM
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QUOTE(wongmunkeong @ Dec 29 2012, 08:16 PM) Serong a bit ar - just a caution 600X numbers or "short codes" does not necessarily mean its from where the SMS says it's from. A person or company can blast out SMSes via short codes and put any donkey thing on them, especially if sent via providers from "more unregulated" countries. Even phone numbers can be spoofed via VOIP - be aware of cons via phone numbers with caller-lineIDs that looks to be the same as Bukit Aman and stuff. Personal experiences & technically done it before as a prank on colleagues  Ouch, ok noted.  To me, the SMS was an advertisement. Like what you get from your credit card banks on some promo. Glad to know about this.
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