The Private Retirement Scheme (PRS) is a voluntary long-term investment scheme that complements your Employee Provident Fund (EPF) savings, or potentially increases your retirement savings if you are self-employed.
Source: Citibank Berhad, 2015
*Assumes retirement age of 60 years old. The amount required after retirement assuming 70% of pre-retirement income & inflation of 2% p.a. This computation is a projection and strictly for illustration purposes only.
**Department of Statistics, Malaysia, 2012
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^Applicable to taxable income for contributions into PRS from 2012 to 2021.
- Your investment contribution will be split into two accounts:
*Subject to 8% tax penalty on the amount withdrawn, as well as a fee of RM25 imposed by Private Pension Administrator (PPA). Please ask us for the fund disclosure documents for more details on the withdrawal criteria.
- Your contribution will be invested in funds that are managed by approved PRS Providers
- You may choose from two investment options:
- Under Default option, your contribution will be moved to a more conservative fund based on your age:
Get RM500 extra in units if you are below 31 years old.
PRS funds are not deposits and are not obligations of, not guaranteed by, and not insured by, Citibank Berhad, Citibank N.A., Citigroup Inc. or any of their affiliates or subsidiaries, or by any government or insurance agency. PRS funds are subject to investment risks, including the possible loss of the principal amount invested.