WHAT IS Private Retirement Scheme?
Private Retirement Scheme, or PRS, is a VOLUNTARY long term savings designed to complement EPF, the contributors' MANDATORY retirement scheme, in building up savings for retirement.WHY PRS?
Most retirees exhaust their EPF savings within 5 years of their retirement. To prevent POVERTY IN RETIREMENT the government encourage employers to further contribute, and employees to save more, by introducing several incentives.WHO CAN CONTRIBUTE?
1. Employers can contribute by adding another 6% to 7% (on top of mandatory 12% or 13% to EPF) of their employees' monthly salary;2. Employees can contribute by way of monthly salary deduction by employer;
3. Anyone above 18 can contribute direct to a PRS account.
BENEFITS TO EMPLOYERS
1. Company Tax deductions up to 19%, on top of the mandatory 12% to 13% of employees' remuneration to EPF;2. Attract, Reward & Retain employees;
3. Rights to Contributions
BENEFITS TO EMPLOYEES
1. Up to RM3,000 personal income tax relief (for their own contributions);2. RM1,000 government incentive to youths for their own initial RM1,000 contribution;
3. FREE PA Insurance or Takaful;
4. Creditor protection.
ABOVE BENEFITS APPLY TO ALL WHO CONTRIBUTE VIA SALARY DEDUCTION OR DIRECT CONTRIBUTIONS
PRS HAVE POTENTIALLY BETTER RETURNS THAN BANK DEPOSITS
Email dakhoos@gmail.com or message 0124836281 for details
** Terms and Conditions apply. Refer to DISCLOSURE DOCUMENTS OF THE COMPANY.
