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Private Retirement Fund, What the hell is that??
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infested_ysy
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 Dec 18 2016, 04:56 PM
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How does PRS work in the long run? I have one myself (with Public Bank) to take advantage of the RM500 government contribution. But after I deposit in RM250 to my account through http://www.ppa.my/ , they give me only RM234.08, which is 6.37% less than what I put in. If that's the standard fees they charge for each transaction/contribution, you don't really make a lot of money in the end, after getting 6~7% off them every year, do you...? It doesn't quite make sense to me. |
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infested_ysy
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Nov 3 2017, 09:52 AM
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Quick question, I have a Public Mutual PRS Growth Fund, and I make contributions through https://www.prsmember.my due to convenience. Whenever I deposit RM250, only RM234.08 is credited into my PRS account. Is it normal for the transaction fees to this much? Calculated, that's like 6.36% in fees. |
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infested_ysy
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Oct 11 2018, 11:42 AM
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how do you guys top up on your PRS? Through this site? https://www.prsmember.my/ I kinda stopped topping up my prs account anymore, because I don't really like the fees they deduct each time I contribute, and I don't see their returns being better than EPF. I just opt for higher self contribution rate off my salary to EPF, in addition to doing other things like unit trust. Can anyone convince me otherwise? My last contribution was RM500 to my PRS (public bank PRS), but I was credited 476.37 into my account. Meaning I was charged 4.7% for transaction fees? That's kinda ridiculous. The annual statements aren't really clear too. I'd love it if they'd say how much in interest I've made, and how many more units I got in return. tl;dr I don't think PRS is worth it, convince me otherwise? |
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infested_ysy
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Oct 11 2018, 04:03 PM
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QUOTE(Ramjade @ Oct 11 2018, 11:50 AM) FSM or eUT Malaysia. Both zero percent service charge. Only RM8/year. If you don't topup, no charge. But wasted la. PRS money still your money at the end of the day. Income tax money paid is not your money  Avoid public bank. They may be one of the most popular but they are one of the worst in the market You must know what you want to to buy. Don't simply buy because someone told you so. Read more about unit trust. https://forum.lowyat.net/topic/4193169Again choose what you are comfortable with. You have to understand that unit trust is a basket of stocks which invest in stocks or bonds. To make profit from unit trust, your buying price have to be way lower than selling price. What's eUT? www.eunittrust.com.my <- this one? |
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