PRS 私人退休基金
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Private Retirement Scheme (PRS) Youth Incentive
Recognising the need to cultivate a retirement savings culture amongst the younger demographics whilst appreciating the
financial constraints faced by this group, the Government has announced that it will make a one-off contribution to provide a head start for the 4.2 million Malaysian youths between the ages of 20-30 years. The incentive is effective
1 January 2014, for a period of five years from 2014 to 2018.
Under this scheme, the Government will contribute RM500 into the PRS account of eligible youth contributors who have accumulated RM1,000 within a year. This RM500 Youth Incentive will be used to purchase units of PRS funds.
Below are some important information on the incentive based on a recent briefing conducted by the Securities Commission:
Eligibility
Recognising the need to cultivate a retirement savings culture amongst the younger demographics whilst appreciating the
financial constraints faced by this group, the Government has announced that it will make a one-off contribution to provide a head start for the 4.2 million Malaysian youths between the ages of 20-30 years. The incentive is effective
1 January 2014, for a period of five years from 2014 to 2018.
Under this scheme, the Government will contribute RM500 into the PRS account of eligible youth contributors who have accumulated RM1,000 within a year. This RM500 Youth Incentive will be used to purchase units of PRS funds.
Below are some important information on the incentive based on a recent briefing conducted by the Securities Commission:
Eligibility
- Malaysian
- Existing PPA account holders or new members
- Individual must be aged 20 and above but have not reached the age of 31 within any calendar year between 2014 – 2018
- Individuals who make a gross contribution of RM1,000 within any calendar year between 2014 – 2018 in a single PRS fund of a Provider
- Gross contributions within the calendar year may be on a lump sum or staggered basis
- Gross contributions cannot be sourced from employer contributions (whether via vesting schedule or otherwise)
- Gross contributions cannot be achieved via transfer from a different Provider, however switching between funds is
allowed - The one-off incentive of RM500 by the Government to contributors is not eligible for tax relief
- For more info please visit www.ppa.my
- To contribute to PRS please call Public Mutual PRS Consultant 017-728 9027