Hai GUys,

Have the Private Retirement Scheme (PRS) started already?

Anybody have any ifo?

Please advice.

Thanks Guys.

Still no action... I, too have asked around and none of the sevice provider can give me simple answers like what is the Sales charge, annual management fee, agent fee etc.

They say wait till Oct to get a clearer picture.

Xuzen

My office here in CWA just finished training and introduction session about PRS.

But i didnt attend

It started already. ING Fund do provide PRS...

FSM also has a PRS (deducted from salary). Anyway don't need to depend on government, just agree with yourself to put away x% of your income in a unit trust every month, should see the results when you retire

Thanks for the input.

What is the minimum commitment for PRS monthly? In this case ING which already started.

Thanks

Check it out at http://www.fundsupermart.com.my under "Regular Savings Plan"

PRS = regular savings plan. (closest icon I can find, actually looking for pengsan.)

What's the difference? compare PRS and RSP, and someone putting in a fixed amount every month, and tell me what the difference is


This post has been edited by wodenus: Sep 5 2012, 01:12 PM

Personal income tax payable (i guess )

wanted to type alot, but offend too much if likewise expose all.
it's a very sensitive issue towards malaysia economy n political issue.
it relates alot of benefit party, n best part is, the last person to benefit is those who 'purchase' this scheme.
n impact is huge within malaysia n malaysian who tend to 'invest' in it.
it's an investment scheme in d end.
make sure after reducing this money from ur epf or salary.
retirement reaches u still have enuf. else might as well just use what u have on hand.
very very sensitive....
personally to reply as a friend, dont get into this plan @.@

not positive <--- for me.

Cool.. now figure out if your taxes are going to be less if you have a Rm3000 tax relief. If not then it makes no difference right?


This post has been edited by wodenus: Sep 5 2012, 02:01 PM

get this month personal money, well explained abt PRS.

---

Added on September 5, 2012, 3:53 pmSHARING ONLY.



Who is PPA? - http://www.ppa.my/index.php/about/background/



FAQs on PRS... http://www.ppa.my/index.php/how-prs-works/faqs-on-prs/



Role of the SC in regulating PPA - http://www.ppa.my/index.php/how-prs-works/...regulating-ppa/



Getting advice - http://www.ppa.my/index.php/how-prs-works/getting-advice/



Who are PRS Providers - http://www.ppa.my/index.php/providers-and-...-prs-providers/



Benefits of PRS - http://www.ppa.my/index.php/how-prs-works/benefits-of-prs/



Tax incentives - http://www.ppa.my/index.php/how-prs-works/tax-incentives/



Joining PRS - http://www.ppa.my/index.php/how-prs-works/joining-prs/

This post has been edited by kparam77: Sep 5 2012, 03:53 PM

3% of RM3k = RM90
7% of RM3k = RM210
12% of RM3k = RM360
.
.
.
.
.


might not be significant to u... but it is still $$$ ma~~

well, what regular savings plan offers??

It is an instant gain of 25% for me. Can you please advise the drawback that I might have missed out. Tq!

This scheme is not capital guaranteed rite?

Yes, it is not guaranteed.

"As with all investments, the returns from contributions made to PRS are not guaranteed and will depend on the performance of the PRS funds" by Sundaily.

Copy and paste,
http://www.malaysia-chronicle.com/index.ph...-safe?&Itemid=2

Little info about Private Retirement scheme (PRS),
http://www.sc.com.my/eng/html/ppa/prs_english.pdf

This post has been edited by adolph: Nov 21 2012, 01:31 PM

Park all your money in bank or invest on your own lo, since you dont trust of fund manager and not interested on the tax relief~

well said, you are the real financial planner that fully utilize the potential of your income.

The drawback is
1)People who doesn't submit income tax, so they don't care as well.
2)some of the people feel 25% is still not a good figure for them.

Great Eastern Annuity plan is also entitle for the tax relief(RM3000) and it is guaranteed return.

Well, basically from my point of view, PRS is not much different than a normal Regular Monthly Investment in Unit Trust..

The introduction of PRS is more like an effort by the government to enhance the unit trust market or to encourage the citizens to invest in unit trusts..

Therefore, i see nothing interesting in it, rather than just a feeling of frustration because it is like introducing a new version of unit trust.. Noting new...