Private Retirement Scheme Malaysia Rm1000

Will you have enough to retire.

Private retirement scheme malaysia rm1000. To encourage young malaysians to start voluntary retirement savings at an early age the government introduced the prs youth incentive programme during the tabling of budget 2014. Why aia private retirement scheme. The contents contained shall not be disseminated reproduced or used either in part or in. If you ve been thinking of contributing here s what.

To be financially secured at retirement you will need to save adequately in order to provide 2 3 of your last drawn salary to continue the same lifestyle you have become accustomed to. How to start investing in private retirement scheme in malaysia posted by suraya 54 comments in 2015 i took advantage of the prs youth scheme invested rm1000 and received rm500 from the government. This has forced many to delay retirement or find alternate means of income well into old age. Apam is the provider for aia private retirement scheme prs which is an approved pension scheme governed by the sc.

This programme was introduced to reward young people with rm500 if they contribute to a prs private retirement scheme. Everyone deserves to look forward to a happy and financially secured retirement after many years of working. But here s the scary thing. We are a wholly owned subsidiary of aia bhd a leading insurer that has been serving malaysia for over 70 years.

After all it can be a struggle to plan 5 years ahead let alone 50 years down the line. Now is a good time to start saving early for your retirement as the government is giving free rm1 000 to malaysian youths. 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 subject of retirement may not be the most popular subject of discussion when it comes to the youth at large.

2 comments private retirement scheme prs retirement planning by michelle in this post i will be sharing on prs youth incentive and why eligible malaysian youth should grab the free rm1000 latest by 31 december 2018. According to the employees provident fund epf retirees use up an average of rm150 000 of their epf savings in the first three to five years of retirement. Private retirement schemes prs is a voluntary long term savings and investment scheme designed to help you save more for your retirement. To combat the lack of retirement savings the private retirement scheme prs was introduced in 2012 and sought to encourage people to build their retirement income in another way beyond epf.