PRS (Part 1): Private Retirement Schemes – What’s the fuss?
If you’ve been keeping up with any news source in Malaysia, it is quite likely that you would have come across the PRS buzz. If you haven’t or if you have questions about it, we’ll get you up to speed, with our PRS series of articles.
In this PRS series, we will cover the basics, risks, benefits, options and more so you can decide if PRS is right for you.
What is PRS?
PRS stands for Private Retirement Schemes. Essentially, PRS offer funds for individuals to invest in with the objective of saving for retirement. Much like EPF, it allows for employer contributions as well. However, PRS participation is voluntary and offers greater flexibility and investing options.
How it works?
Of course, there is more to PRS than this. But we’ll get to that later in the series, in which we will cover the risks, benefits, options and important terms.