Why do you need retirement planning?

template 1200 x 600 (44)

PRS represents Private Retirement Schemes. Basically PRS provides funds for individuals to invest with the aim of contributing to the pension. Like the EPF, it also allows employers to make contributions. However, participation in PRS is voluntary and provides more flexibility and investment options.

How does it work?

With a longer lifespan and improved living standards, many Malaysians find their savings insufficient to meet their retirement needs. PRS is an important feature of the private pension industry with the objective of improving living standards to help Malaysians during their retirement through additional savings.

As a long-term investment, PRS is designed to help increase sufficiency and expand the scope of retirement benefits to all segments of society. It is in addition to Malaysia’s existing mandatory retirement savings scheme.

Contributions to PRS are voluntary. Individuals – retail investors, self-employed, employees or employers can join PRS as contributors. Offering private pension benefits can be a way for employers to attract and retain skilled workers.

Why do you need retirement planning?

  • 50% of retirees run out of their EPF savings within 5 years.
  • 68% of EPF members aged 54 in 2014 had EPF savings of less than RM50,000
  • While more than 90% of Malaysians aged 45 and above who want to retire in the next 5 years are unable to do so due to financial constraints.

For more information about Retirement Planning Malaysia, please visit https://www.vka.com.my/

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?

Expert Air Compressor Distributors: Providing Top-Quality Equipment and Service

Air compressors are vital equipment for a wide range of industries and are used in various applications, such as powering …

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 …