Private Retirement Scheme (PRS)

Introduction to PRS

What you should know about the Private Retirement Scheme (PRS)

New way to boost retirement savings

PRS is a voluntary scheme for all individuals who are 18 years old and above. It is an additional way to boost total retirement savings, whether you are an Employees Provident Fund (EPF) member or not. If you are an EPF member, then PRS can complement your EPF savings.

Latest incentive announced by Government

Government proposes in budget 2014 a one-off incentive of RM500 to contributors who participate in the PRS scheme with a minimum cumulative investment of RM1,000 within a year. The incentive, which is available for individuals aged between 20 and 30 years will be implemented from 1st January 2014.

Enjoy additional tax savings

Enjoy up to RM3000 per year personal tax relief* on top of the RM6000 per year tax relief for the mandatory retirement savings contribution and life insurance premiums.

* For contributions into the PRS and deferred annuities effective from years of assessment 2012 to 2021
* For the list of PRS funds distribute by PMB, please click HERE.

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