Welcome to Malaysia's Private Retirement Scheme (PRS)

Secure Your Future with Smart Retirement Planning

Are you ready to take control of your financial future? The Private Retirement Scheme (PRS) is your key to a comfortable and secure retirement. Discover how this voluntary long-term savings and investment scheme can help you achieve your retirement goals.

Why Choose Private Retirement Scheme?

Getting Started with Private Retirement Scheme is Easy

  1. Learn: Understand how PRS works and its benefits
  2. Choose: Select a PRS provider and funds that match your goals
  3. Contribute: Start saving for your retirement with flexible contribution options
  4. Monitor: Track your investments and adjust your strategy as needed

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Latest Private Retirement Scheme News and Updates

Malaysia Mulls Giving Full Tax Exemption on Emergency Private Retirement Scheme Withdrawals

Malaysia is considering providing full tax exemptions on small amounts of withdrawal from Private Retirement Scheme (PRS) for emergency purposes, according to Securities Commission Malaysia (SC) chairman Datuk Seri Awang Adek Hussin. This measure aims to adapt the PRS framework to address long-term structural trends, including an ageing population, digitalisation, and the changing nature of work, to better cater to local retirement savings needs. Another measure being considered is improving the process for members to transfer across funds and providers. The SC and Private Pension Administrator Malaysia (PPA) will work with PRS providers to develop a digital process for members to switch across funds more seamlessly.

Algo-based Private Retirement Scheme: A New Retirement Solution

The SC is expanding the PRS framework to allow existing PRS providers and digital investment managers (robo-advisors) to offer algorithm-based PRS, termed as ePRS or Digital PRS. This new type of PRS will offer an alternative fund type structure and allow investors to make smaller contributions to pre-approved model retirement portfolios, making investing simpler and more accessible, especially for those with less financial knowledge. The introduction of target date funds, which seek to grow assets over a specific period for a targeted goal, is another significant advancement in retirement planning customisation. Target date funds simplify the process through automation, following behavioural economics principles that suggest simpler choices provide better outcomes.

Versa Private Retirement Scheme Hits RM1 Million in Cash Ins Within 5 Days of Soft Launch

Malaysian millennials and Gen Zs are embracing the newly launched Versa Private Retirement Scheme (PRS), with over RM1 million in cash ins within 5 days of its soft launch. Managed by AHAM Capital and regulated by the Securities Commission Malaysia, Versa PRS offers three conventional funds and three Shariah-compliant funds, allowing users to start saving from RM100. To encourage users to save for retirement, Versa is giving its users an additional RM50 bonus and 6% p.a. net returns on their first RM10,000 balance in Versa Cash for 90 days when they cash in RM3,000 into Versa PRS.

Private Retirement Scheme Industry Continues Steady Growth

The Private Retirement Scheme industry has seen continued steady growth, with assets under management (AUM) rising by a compounded annual growth rate of 25% to RM5.4 billion in 2022, from RM2.7 billion in 2018. Additionally, PRS membership has grown by 40% to 577,000, from 416,000 within the corresponding period, with most members being under the age of 40 years old. However, while the PRS industry has seen steady growth in AUM and membership, PRS coverage compared to the labour force is still low due to the evolving nature of work and labour market structure. The PRS industry must adapt to help more Malaysians meet their retirement needs.

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What Private Retirement Scheme Contributors Say

Private Retirement Scheme has given me peace of mind about my retirement. The tax benefits and professional fund management make it an essential part of my financial planning. - Sarah T., PRS Member since 2018

As a young professional, I appreciate how Private Retirement Scheme allows me to start small and increase my contributions as my career progresses. - Amir R., PRS Member since 2022

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The Private Retirement Scheme (PRS) is regulated by the Securities Commission Malaysia. Investments in PRS funds are subject to market risks and the value of investments may go up or down. Past performance is not indicative of future returns.