Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 Private Retirement Fund, What the hell is that??

views
     
izwanz
post Oct 1 2015, 03:34 PM

On my way
****
Senior Member
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?
izwanz
post Oct 2 2015, 10:40 AM

On my way
****
Senior Member
565 posts

Joined: May 2005

QUOTE(T231H @ Oct 1 2015, 09:55 PM)
yawn.gif  while waiting for more value added responses...I found this while googling....
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/
*
Thanks for the information.

I also spoke to my PRS agent and I understand that the Securities Commission is only announcing nomination for nominee next year.

 

Change to:
| Lo-Fi Version
0.0225sec    0.84    7 queries    GZIP Disabled
Time is now: 11th December 2025 - 01:05 AM