Private Retirement Scheme (PRS) Introduction

Private Retirement Scheme (PRS)

·         Offered to the public for the purpose of building up long-term savings for retirement
·         PRS Framework

·         6 core funds: -

Conventional	Islamic
PRS Growth Fund (PRS-GRF)	PRS Islamic Growth Fund (PRS-IGRF)
PRS Moderate Fund (PRS-MDF)	PRS Islamic Moderate Fund (PRS-IMDF)
PRS Conservative Fund (PRS-CVF)	PRS Islamic Conservative Fund (PRS-ICVF)

a)      You can select either default option or non-default option

b)      All contributes made to PRS will be split and maintained in 2 sub-accounts A & B

Benefits

• Diversification
• Professional management
• Ease of transactions
• Enjoy personal tax relief
• Income of the fund is exempt from Malaysia income tax (Max. RM3,000)
• Tax deduction for employers on contribution made

Risks

• Capital & returns not guaranteed
• Market risk
• Fund Manager risk
• Inflation risk
• Legal & regulatory risk
• Risk associated with the default option

Fees & Charges

• RM10 PPA account opening fee (one off)
• 3% of sales charge
• RM8 per annum of PPA annual fee (if contribute subsequent year)
• RM25 PPA pre-retirement withdrawal fee
• RM25 Service Provider transfer fee & RM25 PPA transfer fee (to another PRS provider)
• Other management fee, trustee fee and PPA administration fee per annum of NAV.

Others

1. Withdrawal proceeds within 10 days.
2. Pre-retirement withdrawals: Death of member, Permanent departure from Malaysia, Withdrawal of accrued benefits from sub-account B.
3. The scheme is open to all individuals aged 18 and above, including foreigners.

Download Product Highlights sheet: 
PRS-Conventional Series     PRS-Shariah-based Series

Download Disclosure Document: 
PRS-Conventional Series     PRS-Shariah-based Series