1. What is PRS
- A voluntary long-term investment scheme to help individual accumulate savings for retirement (on top of mandatory contribution to EPF)
- Objective: To improve living standards for Malaysians at retirement through additional savings of funds.
2. PRS Framework
3. Key feature of PRS
- Designed to provide choice and flexibility. Encourages members to take control of their retirement savings. PRS are defined contributions scheme.
4. PPA Account
5. Comparison between of PRS and Unit Trust
6. PRS: Benefits to Employees
- Where is PRS fits into ?
8. 8 PRS Providers
9. PRS Youth Incentive
- Recognizing the need to cultivate a retirement savings culture amongst the younger demographics whilst appreciating the financial constraints faced by this group, the Government will make a one-off contribution to provide a head start for the 4.2 million youths between the ages of 20-30
- The Government will contribute RM500 per person into the PRS accounts of youths, who have accumulated RM1,000 within a year.
- Malaysian with existing PPA account or new member
- Individual between ages of 20 to 30 (based on birthdate)
- Minimum RM1,000 gross contribution in a single year within a calendar year
- Effective period – 2014 to 2018
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