Private Retirement Scheme (PRS)

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Whats is Private Retirement Scheme

Private retirement scheme (PRS) is a retirement savings plan that is funded by contributions from the individuals and their employer. Each Private retirement scheme (PRS) offers a choice of retirement funds from which individuals may choose to invest in based on their own retirement needs, goals and risk appetite. The fund options under Private retirement scheme (PRS) are intended to enhance long-term returns for members within a regulated framework. These contributions will be managed by Private retirement scheme (PRS) Providers who are approved by the Securities Commission Malaysia(SC) and administer by Private Pension Administrator(PPA), with the goal of generating income during retirement.

Benefits of (PRS) for you as the Employer

As the Employer, Private Retirement Scheme (PRS) Series can help you gain the following advantages over your competition:

Receive a tax deduction on contributions to Private retirement scheme (PRS) Series made on behalf of your employees, up to 19% of the employees’ remuneration.

Benefits of (PRS) for your Employees

With Private retirement scheme (PRS), your Employees can now have peace of mind knowing they can enjoy their desired retirement lifestyle with a sustainable retirement income.

Enjoy tax relief up to RM3,000 per year for individual’s contribution to the PRS.
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