Private Retirement Schemes (PRS) is a voluntary long-term contribution scheme designed to help individuals accumulate savings for retirement. This voluntary contribution scheme is meant to provide employee and self-employed with an additional avenue to save for their retirement.
Benefits of contributing to the PRS:
- Professional management: The funds are managed by professional fund managers with the expertise and resources to manage the assets of the funds.
- Enjoy tax reliefs: Both employee and employer get to enjoy annual tax relief.
- Provide Flexibility: You have a choice of investing and switching between funds based on your risk appetite and investment profile.
- Ease of transactions: The funds do not require cumbersome administrative paperwork or record keeping on investors’ part in managing a range of investments.
For more information about Private Retirement Scheme Malaysia, please visit https://www.vka.com.my/