Private Retirement Scheme Malaysia

Please refer to the disclosure document and the relevant fund s product highlights sheet for more details of the prs funds. Prs offers the safest most flexible and regulated retirement saving scheme to accumulate your retirement funds. The contents in this website were prepared in good faith and the private pension administrator malaysia ppa expressly disclaims and accepts no liability whatsoever as to the accuracy relevance completeness or correctness of the information and opinion.

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4 the age group may be subject to changes as may be determined by the relevant authorities.

Private retirement scheme malaysia. It aims to grow its. Prs is a voluntary long term investment and saving scheme designed to help you save adequately for retirement. Prs seek to enhance choices available for all malaysians whether employed or self employed to supplement their retirement savings under a well structured and regulated environment.

The ppa is a body approved by the securities commission and serves to protect prs members interests and educate the public on prs. The requirements on matters relevant to members are binding on them including the. Private retirement schemes prs are not protected by perbadanan insurans deposit malaysia.

These guidelines set out requirements that must be complied with by a prs provider and a scheme trustee in relation to private retirement schemes. In 2011 securities commission malaysia sc issued a regulatory framework to govern the industry. 3 these are funds under the default option that meet the investment limits specified in guidelines on private retirement scheme issued by the securities commission malaysia sc.

Prs is made available to all malaysians who are employed and self employed. Private retirement schemes prs is a voluntary long term savings and investment scheme designed to help you save more for your retirement. And all prs activities are administered by the private pension administrator malaysia ppa.

The mechanism of private retirement scheme malaysia as the name implies prs is privately managed by asset management companies also known as prs providers. Private retirement schemeprivate retirement schemes are specific products that allows anyone to start planning their retirement. A private retirement scheme prs is a defined contribution private scheme that complements the employees provident fund epf and other retirement plans on a voluntary basis.

Now everyone can have a retirement plan. Simply because it barely comes with any upfront costs and automatically sets aside a portion of your income. What is the private retirement scheme prs.

The guidelines on private retirement schemes guidelines are issued by the sc pursuant to section 377 of the capital markets and services act 2007 cmsa. Investors should not make payment in cash to a private retirement scheme prs consultant or issue a cheque in the name of a private retirement scheme prs consultant.