Private Retirement Scheme (PRS)

PRS Youth Incentive RM1,000

PRS Youth Incentive is an initiative by the government to encourage young individuals to start saving early for retirement.

WHO IS ELIGIBLE FOR THE PRS YOUTH INCENTIVE?

  • For Malaysians only
  • Aged 20 and above but yet to reach the age of 31
  • Accumulate a minimum gross investment amount of RM1,000 in a single PRS fund of a single PRS provider from 1 January 2017 till 31 December 2018

**RM1000 youth incentive is an one-off and is only given out once to individual from 1 January 2017 to 31 December 2018.

HOW DO I RECEIVE THE YOUTH INCENTIVE?

  • You will receive the RM1,000 incentive in the form of units of the FIRST PRS fund that reaches the minimum RM1,000 gross investment amount.
  • PPA will credit the RM1,000 into your PRS fund(s) after the cut-off date in end-June and December each year from 2017-2018.

 

Click HERE to find out how to purchase PRS.
*Please take note that you are required to open account with PRS Provider for fund transactions.

Read also the other phase of financial planning – Insurance 101.

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