PRS is an investment scheme that facilitates the accumulation of retirement savings through voluntary contributions. The PRS is designed to complement the Employees Provident Fund (EPF) and is regulated by Securities Commission Malaysia (SC). For more information, please click here.

Malaysians and foreigners who are 18 years old and above are eligible to contribute to the PRS.

To purchase PRS fund with us, you will need to open a Personal Account (if you do not have an account).

Thereafter, you may click here to refer on the Step-by-Step Guide for PRS purchase order placement. 

PPA will incur a PPA account opening fees of RM10, however, the charges has been waived by PPA until further notice.

Nevertheless, there will be an annual fee of MYR 8.00 will be deducted from your investment amount for any subsequent contributions on the next calendar year per fund house.

Example:

A year after registering a PPA account, an investor contributes MYR 1,000 to PRS Provider A and PRS Provider B respectively. Hence, the investors will be paying MYR 8.00 x 2 fund houses = MYR 16.00.

No. PRS is only applicable to Personal Account only.

Notes : AHAM, Kenanga, Principal, and RHB PRS Funds do offer paperless submission for initial purchase via Mobile Apps/Web. For more information, please click here.

Yes, you can sell your units in Account B after 1 year of your subscription. You will need to submit a copy of fund house redemption form to process the withdrawal. Please be noted that a tax penalty of 8% will incur to you by the Inland Revenue Board of Malaysia unless your age is 55 and above.

The PPA pre-retirement redemption fee of MYR 25.00 is waived by PPA until further notice.

For account A, you can only redeem your PRS investments upon retirement age of 55.

Redemption for a deceased member or permanent departure of a member from Malaysia are required to furnish documents which required by PPA. You may click here to view the details.

a. Switching within same PRS Provider

To switch your PRS fund within same PRS provider, you may login into your investment account and click on Funds >> Transactions >> Switch to execute the switching transaction.

There is no switching fee and also no restriction to the number of switching transactions EXCEPT for the following fund houses:

• Principal Asset Management Berhad - 12 times free switch per calendar year (one time switching per month)
• Manulife Asset Management Services Berhad - 12 times free switch per calendar year

b. Switching between different PRS Provider

To perform the switching of PRS funds between different fund houses, original form submission is required and you may reach out to our customer service team via email clienthelp.my@fundsupermart.com for further assistance.

Meanwhile, the switching between different PRS provider is subjected to the conditions below:

• Transfers are permitted once a calendar year for each PRS Provider;
• The transfer is only allowed after one year from the first subscription date;
• There is sufficient units in the fund(s);
• Each transfer request is only between two PRS Providers; and
• All accrued benefits to be transferred from a particular fund must be transferred correspondingly to one other fund managed by the Transferee Provider.

The PPA transfer fees of MYR 25.00 is waived by PPA until further notice.

Yes, you can apply RSP once you have PRS fund in your holdings.

The PRS statement will be mailed by the fund house and PPA directly to you semi-annually basis whenever you purchase PRS fund. Alternatively, you can download the statement as well as check your balance online via FSMOne.

All individual's PRS contribution is eligible for tax relief of up to MYR 3,000 per year of assessment.

To appoint nominees, you must be one of the following:

• A Malaysian citizen; or

• A non-Malaysian citizen who has obtained a Permanent Resident (PR) status in Malaysia is eligible to make a nomination.

The above rules are applicable to nominees as well.

To proceed with the PRS nomination, please submit the following documents:

a) PPA Nomination Form (click here for sample form) ;  and

b) A copy of the identification document (NRIC/Passport etc.) of the PPA member.

 For the witness column, you may choose anyone who is 18 years old and above EXCEPT the following:

• The nominee;

• The spouse of the nominee;

• An employee of the PPA; or

• An employee/consultant of the PRS Provider.

You can appoint up to the maximum of six (6) nominees.

The nomination will take effect once a completed and witnessed nomination form is received by the PRS Provider. You can always check the nomination details by logging to PRS Members’ Portal. Also, a notification email inclusive of the nomination details will be sent to the member.

No, you will only have to submit one nomination form.

You can submit a new PPA Nomination Form together with a copy of NRIC and the new nomination will supersede the earlier nomination.

If a nominee dies before a member, this will not affect distribution to the other nominees. Other nominees can carry on the obligation to claim as an administrator. However, the portion allocated to the deceased nominee shall be paid to a lawful administrator of the member’s estate.

For more details about the nomination procedures, please click here.

If the nominee dies after the member’s death but before he makes any claim for withdrawal, the PRS balance shall revert to the member’s estate.

For more explanation about nomination procedures, please click here.

PRS Youth Incentive is an initiative by the government to encourage young individuals to start saving early for retirement. A one-off incentive of MYR 1,000.00 will be contributed by the Government to young individuals between 20-30 years old who accumulate a minimum gross investment amount of MYR 1,000.00 (inclusive of PPA account opening fee/annual fee) in a single PRS provider within a calendar year. Kindly note that the incentive initiative has expired on has expired on 31 December 2018.

The incentive will be credited fully into your sub-account A. In other words, a PPA member is not eligible to withdraw the incentive until he or she:

• Reached the retirement age of 55;

• Deceased; or

• Moving out of Malaysia permanently.

The PRS Youth Incentive is not entitled for tax relief.