wongmunkeong,

And, the government can change the retirement age to 60, 65, 70, and so on in the future..

Dreamer

So there is only one thing to do, UBAH liao

roystevenung,

Which may not help anyone of us when the government had spent all of our money before UBAH. Our government debt is the same size as EPF now. IMHO, PRS is just another way for the government to TRAP our money in Malaysia.

I ASSUME that I will not get any of my EPF money back when I retire.

Dreamer

This post has been edited by dreamer101: Dec 9 2013, 11:09 PM

I agreed with your statement. I never include EPF money in my portfolio or networth calculation.

One day, Malaysia may become like Greece.

one economist blogger said this on FAQ
Q1. Government debt is like household debt – if we spend more than we earn, we’ll go bankrupt

A. That’s the common sense view, and its one that’s commonly held. The problem is that it’s also mostly wrong.

Q12. In ten years time, we’ll be like Greece

A. Greece has a 2000 year history of defaulting on its external debt. Malaysia has never defaulted on its debt.


A FAQ On Malaysian Government Debt
http://econsmalaysia.blogspot.com/p/faq-on...nment-debt.html

too bad I am noob in economics...just managed to pass the basic....

yklooi,

Stop spreading LIES...

<<too bad I am noob in economics...just managed to pass the basic....>>

If you are TOO LAZY to THINK, do not spread stuff that you DO NOT UNDERSTAND.

Even at a SIMPLE level, if a person's debt and expenditure is GROWING faster than their income, a person is in danger of bankruptcy.

Please note that the blog is using 40 years average to hide the fact that the debt is growing at 10% per year for the last 5 to 10 years. Is Malaysia's economy growing at 10% per year for the last 5 to 10 years??

Dreamer

This post has been edited by dreamer101: Dec 9 2013, 11:43 PM

there you go again,,.....

yklooi,

Do not cut and paste something if you are not willing to THINK and AUDIT the facts.

It is VERY SIMPLE.

If you are DUMB enough to believe this government, so be it. I don't.

Dreamer

now that is better...so be it.
each has its own.

Sry.. I also dun believe in the govt.

That will make it more interesting to see how the 'newly elected' government manages and cope with the national debt. Innit?

That is why people withdraw their money in epf to buy properties.

robertchoo,

LOL!!!

And, how would that help ANYONE when the economy crashes?? The money have to be out of Malaysia in order to be SAFE. In fact, since in most cases, the EPF is only used for down payment, that would tie a person down financially in Malaysia even more.

Dreamer

P.S.: You work for a bank. Stop giving advice to people that only BENEFIT you.

This post has been edited by dreamer101: Dec 10 2013, 07:51 PM

Economy crashes may also happen else where. Whose to say the country where you choose to park yr money won't crash? If 5 years ago you put your money in greece today you will be bankrupt. At least you can stay in the house you bought

PPA is aware of MP Pandan's statement. I wrote to them to ask for further clarification and was told that they will make a press-statement soon.

I guess they are busy doing damage control. So, let's all be gentlemen and give them a chance to answer Pandan's allegation.

Do not jump the gun and speculate needlessly.

Xuzen

After reading the comments in this thread, I see there are a few misunderstandings about PRS. Just to clarify :
- PRS does not require regular and fixed contribution by depositors; you have freedom to decide when to contribute, how much to contribute, and you are free to invest in as many types of funds as you like
- If you have an EPF account you can still have a PRS fund; it's not like they have to be one or another. In fact, they complement each other because some may think that EPF savings will not be enough to fund their retirement.
- Additionally, Malaysians between the age of 20-30 years old are entitled to a one off contribution incentive of RM500 by the government

For more details you can refer loanstreet.com.my/learning-centre/private-retirement-scheme-explained

Happy investing!

This post has been edited by jan2000: Nov 6 2014, 10:50 AM

Anyone invested here and knows what is the returns for any of the PRS providers? Who gives the best returns so far?

A PRS fund that is doing extremely well NOW or today or this year doesn't promise that it'll still continue to shine till your withdrawal ages.

What we should focus will be consistent return per annum over the years. Just my two cents.

This post has been edited by David83: Nov 13 2014, 06:57 PM

I saw a brochure from AIA they mention we only have to open an account for RM1K then gov will add on RM500 to our account. so is it stil valid? and is it worth to open an account for PRS? How much is the handling fees and also how much interests? anyone mind to share your experience?

read this link for more info and on the T&C...

http://www.ppa.my/prs/prs-youth/youth_faq/