How does one appoint a nominee and what does happen if one passes away before retirement, what happens to one's fund?
Private Retirement Fund, What the hell is that??
Private Retirement Fund, What the hell is that??
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Oct 1 2015, 03:34 PM
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565 posts Joined: May 2005 |
How does one appoint a nominee and what does happen if one passes away before retirement, what happens to one's fund?
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Oct 2 2015, 10:40 AM
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QUOTE(T231H @ Oct 1 2015, 09:55 PM) hope it helps... What happens to the PRS investments upon sudden death? Beneficiary nomination is not permitted under the law for PRS and in the event of death, the PRS monies will return to the estate of the deceased member to be distributed in accordance to the instruction of the probate court. What documents are required for withdrawal due to death? For pre-retirement withdrawals due to death or permanent departure from Malaysia, the following information and a copy of the following supporting documents must be sent to the PRS Provider as soon as reasonably possible. Prior authorization by the PPA is required for pre-retirement withdrawals due to death. http://www.ppa.my/prs/about-prs/prs-scheme-features/ I also spoke to my PRS agent and I understand that the Securities Commission is only announcing nomination for nominee next year. |
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