Any body know if purhcase ut in public mutual website, need jhow long for the floast transaction processed?

ohh so what i thought was actually possible! 
such coincidence we had the same mindset for tax relief purpose lol

plan to walk in to the nearest affin hwang tomorrow, hopefully can get it done
mind to enlighten me what documents they'll need from me?
just wanna confirm it's solely "dump in 3k every dec for tax relief" kan? LOL so is basically once a year payment
may i know how many years we need to commit ah? until retirement kah? or can be 10 years only? (since the relief only valid for first 10 years kan?)
what's the return like btway?

Just notice that the PRS website was updated.
So it is official now that the Youth Incentive has increased from RM500 to RM1000.
   

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Pursuant to Budget 2017, the incentive amount has been enhanced by the government to RM1,000. The government will contribute RM1,000 per qualified youth to be used to purchase units of PRS funds in the PRS account. To qualify, the youth has to accumulate a minimum gross contribution amount of RM1,000 during a period of two (2) years from 2017-2018.

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?

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

The Provider's statement remains as the official document for the purposes of filing for a tax relief claim.

I was waiting for the Budget to announce the increase in Youth incentive, seems like no changes?

Does this mean there is no change to the tax incentive for PRS overall?  No extension?

may i know where you open your PRS account?
is it there are charges of account opening of RM10.60 & annual fees RM8.48

if online? other than FSM, any other website provide such service?
i read in FSM FAQ, there are charges:

WHAT ARE THE CHARGES TO APPLY FOR PPA ACCOUNT?

A: For first-time PPA account application, there is a PPA account opening fee of RM10.60* which will be deducted from your investment amount.
Subsequently, an annual fee of RM8.48* will be deducted from your investment amount for subsequent investment on the next calendar year. *GST 6% included.

https://www.fundsupermart.com.my/main/faq/1...eme-PRS--8865#5

That I know.  My thoughts are to use that RM6k you deposited into EPF to invest into UT. Make the money work harder.

No.
RM6k > EPF > UT
RN3k > PRS

The purpose of prs is to guarantee that you have savings before you retire right?what happens if say the stock market crashes. I mean I want to ensure that my investment is protected even when the stock market crashes right?

Is it worth it?
How much tax return can get if annual income like 50k

For my case can get roughly how much? I mean rebate of how much money.

not much, u say ur annual income 50k, then tax relief personal 9k, epf and life insurance assume u fully utilize 6k, then 2.5k assume u subscribe unifi also full. 50k-9k-6k-2.5k is 32.5k. so the tax u are paying is like at most 1k? then if 32.5-3k tax relief, is 29k, so u only can save less than 100 maybe lol.

So not worth it. Please do ur own homework if u wan to calculate exact u can save, no spoon feeding here. else get the fuking PRS agent who persuade u to buy their PRS to do it for u, they are paid for that, i aint.

https://ringgitplus.com/en/blog/Personal-Fi...Guide-2017.html

Wth are you talking about?? You do not buy PRS, you pay your tax, you see your 3k immediately in front of you. What do you mean "never see your money again at 55 years old"??????

Specifically to TS case, he gets a paltry 5% rebate. Amortized over a period of 30 years (estimate), that is only 0.16% p.a. With the money locked for 30 years and with limited funds to choose from, 0.16% is not worth the effort.

IMO, PRS tax relief is only worth it if your tax bracket is >20% and you are near to retirement age

Govt do one time payout either
"The incentive will be credited on bi-annual basis and PPA expects to receive and process the pay-out within 4 months from the cut off date of 30th June and 31st December each year."

i also open in march. found no answer, only this. keep waiting 
When will I receive the RM1,000? How will the incentive be transferred to me?

The RM1,000 will be automatically credited into the sub-account A of your qualified PRS Fund. PPA will notify you once the Incentive pay-out has been made into your qualified PRS Fund in the form of units.

Change of gomen, the rm3k tax relief still still be happening or not hor? Since gomen high hutang now...

i heard from my friend right, opening up first time with FSM mafan.

Dear PRS Member

While the Youth Incentive payment has been approved in mid-April-May, we are still waiting for the disbursement from Ministry of Finance to PPA.

This is taking longer than usual as the Treasury Department is undergoing a transition.

Should you require further assistance, kindly contact us at 1-300-131 PPA(772) between 8:30 am to 5:30 pm, Monday to Friday (except public holidays) or you can e-mail us at askPPA@ppa.my

Thank you.

Yours sincerely,
PPA

If I invested rm1000 into PRS, PPA charge me RM10.60 for account opening and gst....

Do I still entitled for the RM1000 free from gov?

Asked my agent and she said she not sure, ask me wait and see😅

While the Youth Incentive payment has been approved in mid-April-May, we are still waiting for the disbursement from Ministry of Finance to PPA. This is taking longer than usual as the Treasury Department is undergoing a transition.