#1 Private Retirement Scheme Malaysia

VKA

EPF vs PRS?

PRS is similar to the Employees Provident Fund (EPF) because it is a retirement scheme. As with EPF, PRS contributions are also divided into 70 subdivisions into two sub accounts: Sub-Account A and Sub-Account B. Only when retirement age 55, or in the event of death or emigration, can be withdrawn from PRS account. Pre-retirement withdrawal can only be made from Sub-Account B, subject to a tax penalty of 8%.

There are some key differences between EPF and PRS. For starters, PRS is a voluntary contribution scheme where you can donate as little or as much as you want. Secondly, PRS is operated privately by a guaranteed unsecured financial institution, unlike the state-owned EPF which guarantees a minimum dividend rate of 2.5% a year.

You also need to choose the listed PRS provider and the matching funds you wish to donate. You can spread your contribution among more than one fund. Each fund has different risk levels and similar returns, so you need to do some market research before making your choice. Alternatively, you may be assigned a default option based on your age group.

For more information about Private Retirement Scheme Malaysia , please visit
https://www.vka.com.my/services/corporate-private-retirement-scheme-prs-advisory/

Get a FREE 1-to-1 SEO Service Consultation

Fill up below and we will get back to you a FREE 1-to-1 SEO Service consultation on how to grow your business in Google!

Latest News

What’s New in Supplier Directory?

How to Decorate a Venue?

What is the definition of event decor? The small details that make up the setting in which your event takes …

Attempt a Different Contact Lens

Do you adore your contact lenses in every way? Are they still as comfy at the end of the day …

In Singapore in 2022, there will be 8 different types of taxes

Singapore is a country that does not require an introduction. It is not only a popular tourist and expat destination, …

Normal Content Writer vs. SEO Content Writer

When it comes to developing content for the sake of adopting a content marketing strategy, you have a few alternatives. …

5 Different Types of SMEs

While SMEs have several distinct duties in the world at large, SMEs play special roles in our training environment that …

What You Should Know Before Hiring Singapore Bookkeeping Services

Although many factors contribute to business success, consistent cash flow is unquestionably the driving force behind all businesses. Covering liabilities …

What Are the Benefits of Web Design Services for Businesses?

There are several reasons to invest in web design, whether you are establishing a new company or re-branding your existing …

5 Tips for Surviving Google Algorithm Changes in SEO Risk Management

Most search engine optimization (SEO) professionals want to be number one in Google rankings, however Google frequently changes its design …

blank
blank
blank
blank
blank