Xuzen hv reply....Insurance has plenty hiddent charges you may not expect from Unit Trust.

This post has been edited by felixmask: Dec 10 2013, 09:09 AM

Usually thsoe hidden charge has complicated formula at the background which is not direct understand to an average Joe/Jane.

any anuitty plan or prs are entitled for 3k tax relief.
for more information can pm me

u better buy annuity as it come with protection which prs dont have

Hi all,
I know we can use EPF $ to buy UT. But can we use EPF $ to buy PRS too?
Thanks.

http://www.ppa.my/prs/prs-faqs/ under CONTRIBUTIONS (INDIVIDUALS)>Contribution Method

This is not a personal rebut to MNet, more like I need to further clarify and elaborate on MNet's generalised statement for the benefit of other readers.

Protection in this context means Life coverage and in the basic rule of finance, remember this, "There is no free lunch", all comes with a cost. So when a product is built in with a life protection, a premium has already been levied on the product itself, so don't think it is free.

Hence, if for someone who already bought whole-life elsewhere, why should he pay extra for something which he does not need? This brings me back to my statement on life assurance products. In order to cross sell and boost sales, many of these life company are mixing creatively to sell their goods. That is why there is a lot of hidden charges and lack of transparency in the industry. Client may be paying extra for something that he may not need.

Xuzen

Dude - U forgot to add:
Annuities' expected long term returns pa
VS
PRS Growth / Conservative / Etc.

One look and most ppl will be able to choose easily.

Sports car for VROOOM power
Bulldozer for earth moving power
Energy efficient vehicle for cost effective daily usage
Choose the right vehicle for the right reason?
Just a thought

AmInvest launches 5 non-core funds under private retirement scheme

AmInvest has launched five non-core funds to increase the investment options provided under its private retirement scheme (PRS) core funds.

It said on Tuesday these new PRS non-core funds would offer Malaysians a full spectrum of PRS investment solutions in terms of risk and return to suit all investors’ risk appetites, investment goals and objectives

These new funds comprised of four Shariah-compliant PRS non-core funds and one PRS non-core conventional fund and would complement three existing PRS core funds launched in April this year.

The new five PRS non-core funds are AmPRS – Islamic Equity Fund, AmPRS – Islamic Balanced Fund, AmPRS Islamic Fixed Income Fund, AmPRS – Tactical Bond and AmPRS – Dynamic Sukuk.

The minimum initial and additional contribution to AmInvest’s PRS non-core funds on a regular saving plan is RM100.

http://www.thestar.com.my/Business/Busines...ent-scheme.aspx

These 5 funds are pretty safe funds and within moderate risk.

hey wanna ask if anyone knows if the Maybank's 'Smart Retirement Xtra' is it entitled for the Rm3,000 tax exemption? Since I see their brochure mentioned "subject to the approval of the Inland Revenue Board".

At the moment, MBB is not one of the PRS providers. So it is not qualified for PRS category but perhaps may qualify for deferred annuity. Better clarify with the MBB officer who tried to sell you this.

This post has been edited by David83: Nov 28 2013, 06:36 PM

Mr Uwindrah, can you please me your CMSRL number, so that I may check with the relevant authority to verify that you are a bona-Fide Planner. Thanks.

Xuzen

When it reads "subject to the approval of the Inland Revenue Board" it means IRB has the final say as they may change the rule anytime. When it was initially introduced it was Rm1K, and now it is RM3K.

Having said that, when a plan is approved for income tax exemption, it is safe to put that figure into the tax computation.
You may request for a letter or memo from the agent/PRS provider for validation purpose that the plan is able to be included in the tax exemption.

But do calculate the possible returns of the tax savings gained vs the amount you are saving and the returns. If your tax bracket is on the highest then any amount save may bring down your tax bracket.

If not, you may want to really calculate whether the amount is better saved/invested elsewhere that gives you higher returns to pay for the tax

This post has been edited by roystevenung: Nov 29 2013, 02:54 PM

Hohoho, asking for CMSRL number!!

I bet the so called financial planner don't even know about CMSRL......

Xuzen

Dear all sifus,

I am keen to join PRS and thinking of choosing HwangDBS PRS funds for the obvious reason - 0% sales charge. My plan is to start with RM3k, before end Dec 2013 to be entitled for the tax relief for year 2013.

Anyone can provide comments on Hwang AIIMAN PRS Shariah Growth Fund or Hwang PRS Growth Fund?

Thanks.

Best Regards,
AJ

Hwang AIIMAN PRS Shariah Growth Fund as of 31 Oct 13
invested in 95% in Hwang AIIMAN Growth fund ------Malaysia focused fund. YTD return 19%

Hwang PRS Growth Fund as of 31 Oct 13
invested in Hwang Select Opportunity, Hwang Select Bond, Hwang Select Asia Opportunity and Hwang Asia Quantum fund ------ Malaysia 37.9% + Asean exposed funds. YTD returns 7.58%

would you try to diversify your investments instead of putting all eggs in 1 basket?. up to you to decide-lor

This post has been edited by yklooi: Dec 9 2013, 05:12 PM

http://my.news.yahoo.com/skim-persaraan-sw...-050216295.html

Ahli Parlimen Pandan, Rafizi Ramli mendakwa Pindaan Akta Cukai 1967 memangsakan rakyat apabila pengeluaran simpanan Skim Persaraan Swasta sebelum umur 55 tahun akan dikenakan cukai penuh.
Beliau berkata, tindakan kerajaan itu bertentangan dengan janji Perdana Menteri Datuk Seri Najib Razak semasa melancarkan inisiatif kerajaan untuk mengalakkan pekerja swasta memohon skim tersebut.... <snipped>

This post has been edited by wongmunkeong: Dec 9 2013, 08:38 PM

Basically sums up the above