You cannot compare like that as PRS is a retirement investment which works like EPF. You'll reap its return at the age of retirement of 55. Conservative PRS funds are committed to match EPF return.

FD is not considered as investment and rather be classified as saving. It will eventually lose to real inflation.

Great Eastern ---> Insurance Company. What the guy showed you is DEFERRED ANNUITY.

also, the idea of annuity does work, just not in malaysia. and just because great eastern provided a lousy product, the idea itself is not lousy.

It's good if you wanna live longer. Statistics shows that the more annuities you have, the longer your average life.

GE? heheh - that's annuity or PRS?
anyhow - checkout mutual fund types of PRS lar.
Just because U saw a lame duck doesnt mean all BIRDS are lame.

PRS works for me due to tax rates +0% service charges (Hwang's Growth PRS via FSM)
Each person's mileage may vary with their tax rate + selected PRS.

Can I withdraw my money?
Yes, withdrawals can be made under these following circumstances:

Reaching the retirement age*
Death
Leaving Malaysia permanently

*Partial withdrawals are allowed

Alternatively, members may withdraw up to the amount in sub-account B once a year. The withdrawal amount is subject to a tax penalty of 8% (imposed by the tax authority) and the penalty will be deducted before the balance is credited to your account. The first withdrawal from sub-account B is allowed only after a year from the date of the first contribution by the member. Subsequently, withdrawals from sub-account B will be allowed once in every calendar year.
http://www.cimb-principal.com.my/prs/FAQ-@...rdian3Tier.aspx

My understanding is that only few insurance companies have the deferred annuity product, and all are eligible for the tax deductible (would be stupid if it isn’t eligible). However, I haven’t seen all the quotations but also my understanding is that the returns from these products is abysmal.
(Note: the purpose of purchasing annuity in a traditional way of speaking isn’t for investment purposes but let’s ignore that because after all we live in Malaysia with high interest rates unlike UK, US)

The slightly better-off situation is that, I think they give you non-guaranteed returns (etiqa does, I think so is GE, not too sure) but I don’t think it’s worth it because your funds get locked for so long.

Unlike PRS though, deferred annuity allows for full withdrawal (albeit there will be penalties).

PRS vs Deferred Annuity (DA)

Big chunk of DA is guaranteed. PRS guarantees nothing basically, just like unit trust. I will choose PRS any other day. Don’t think the fund managers are THAT bad to lose ALL my money.

Yes - by that time, i'm over the age "to take out everything" already from PRS
sigh.. what kind of Q is that..
Ahem.. U still seem to be lost about
annuity plan (from insurers)
VS
PRS (from fund houses and they're like a type of mutual fund with T&C)

Well, I can absorb a certain level of market crash, knowing that they can come back as well. Time is on my side as well. I understand the risk, but am OK with it. Me low income, not going to throw much money into PRS knowing that the tax I save is not worth the lock-in of my money.

I used to look at life insurance products from other companies. Part of my job to study and analyse. Roughly know how many of them works, but without actual quotation from the agents /companies /banks, can’t provide actual figures. Quit my job. Now I’m doing it out of interest and hoping to help out friends and relatives (for free ).

so you got a better idea?

My bad

When EPF close shop, Malaysia are taken over by other country

Make it this way, money's value are depreciating by it self over the time. This is global issue.
No doubt US's income are high, to buy the same thing, they are paying double or triple, with their currency(except car).

currency crissis happen way back during 97/98when US/Rm was peg to rm3.80

http://www.statistics.gov.my/portal/downlo...ticle_abdul.pdf

this is not a proper place to debate and sharing currency crisis. best open a  new topic.

How to get crisis?
Anyway, both are more or less the same, either die fast or die slow

Need to be prepare incase another currency crisis hit like 97/98, balance ur portfolio. Don't put everything in RM only, diversify to foreign currency too