I believe there's a RM8 annual fee to be charged to investor. How is this RM8 going to be paid to PPA every year? Via deduction of units? Via cash? Via direct debit from our bank account?
Private Retirement Fund, What the hell is that??
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 Nov 6 2012, 11:29 AM
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Senior Member
2,429 posts Joined: Jul 2007 
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Nov 17 2012, 12:41 AM
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#2
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2,429 posts Joined: Jul 2007
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yes, annuity + PRS max is 3k tax relief...
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Jan 4 2013, 09:45 PM
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#3
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2,429 posts Joined: Jul 2007
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just realized that we can now buy PRS funds via FSM web site online now. For the moment, only HwangIM PRS funds are available online.
PS: No RSP for PRS funds yet in FSM. This post has been edited by jutamind: Jan 4 2013, 09:47 PM |
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Mar 7 2013, 01:52 PM
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#4
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Senior Member
2,429 posts Joined: Jul 2007
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yes, have invested in Hwang PRS via FSM. Now going to enable RSP for PRS....still waiting for bank direct debit approval.
QUOTE(Kaka23 @ Jan 5 2013, 10:09 AM) you are investing in PRS with FSM already?  |
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Mar 7 2013, 01:54 PM
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#5
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Senior Member
2,429 posts Joined: Jul 2007
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if i were u, i will use max 3k in PRS and use extra savings to invest elsewhere...SSPN for one, if you have kids.
QUOTE(simplesmile @ Mar 7 2013, 12:14 PM) I am contemplating whether to add my tax savings into the PRS on top of the RM3,000 I'm investing annually. The reason why I'm thinking of adding the tax savings to the PRS is so that I can also see my tax savings grow. The reason why I invest in PRS is because of the tax savings. And what better way to put my tax savings to work than adding it into PRS? Then 10 years later, I can look at my total PRS fund value, less the RM30,000 invested and the balance is the gain. Yes, I treat the tax savings as a gain instead of principal invested. However, the tax savings I add would not qualify me to additional tax relief. Hence there's no benefit from tax relief point of view. Would I be better off putting this tax savings into my mortgage account to reduce the mortgage interest instead? Should I keep the tax savings to increase my liquidity? I'm having a dilemma here. How about you guys and ladies? What do you plan to do with your tax savings? |
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Mar 6 2017, 10:19 AM
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#6
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2,429 posts Joined: Jul 2007
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FSM doesnt seems to provide annual statement/tax relief statement for PRS investments. How do you guys keep track of PRS investment amount per year if audited by income tax dept?
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Mar 6 2017, 10:34 AM
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#7
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2,429 posts Joined: Jul 2007
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i didnt get tax relief statement since beginning of PRS statement many years back. I only get annual statement which doesnt represent annual investment amount
QUOTE(rapple @ Mar 6 2017, 10:27 AM) PPA will send out the tax relief statement. |
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Mar 6 2017, 10:49 AM
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#8
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Senior Member
2,429 posts Joined: Jul 2007
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which in this case means FSM monthly statement?
QUOTE(rapple @ Mar 6 2017, 10:47 AM) Sorry, i just read again the PPA letter. |
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