Private Retirement Scheme (PRS)

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Say what?

Have you heard about PRS? It’s a voluntary long-term savings and retirement scheme available to employed or self-employed to supplement your retirement savings. We spoke to Ismitz Matthew De Alwis of Kenanga Investors Berhad (KIB) to share a little insight on this scheme.

Introduced by the government to help encourage long-term retirement savings, PRS is meant to assist you in later years to not rely on just EPF alone. With PRS, you can plan your retirement better by increasing your savings on a voluntary basis through various PRS funds. And for this, Kenanga offers the Kenanga OnePRS suite through KIB that has both conventional and Shariah options:

OnePRS (conventional)

  • Kenanga OnePRS Growth Fund, Kenanga OnePRS Moderate Fund, Kenanga OnePRS Conservative Fund & Kenanga OnePRS Shariah Fund

Shariah OnePRS

  • Kenanga Shariah OnePRS Growth Fund, Kenanga Shariah OnePRS Moderate Fund & Kenanga Shariah OnePRS Conservative Fund

How to start?

Steps to invest in the scheme can be pretty straight forward. You can either sign up HERE get help by calling 1-800-88-3737 and you may also email your enquiries to investorservices@kenanga.com.my to get more info on the scheme.

How much?

Interested investors may choose to have a regular monthly contribution with Standing Instruction OR contribute whenever they wish. To start, the (minimum) initial contribution is RM1,000 (lump sum) per fund or RM100 per fund for Regular Contribution Plan.

He reiterated, for PRS online however, the (minimum) initial contribution is RM100 where some fees and charges will apply.

Why Kenanga PRS?

Well for one, Kenanga has been performing well for periods of 3 and 5 years against the benchmark which is what long term investment saving is all about. Of course, there is a certain degree of risk as it’s not capital protected but with proper portfolio planning over a longer period of time, it’s expected to deliver the returns worthy of comparison with Fixed Deposits (above) or other conventional forms of savings. Investors are advised to read and understand the Disclosure Document and Product Highlights Sheet to understand the risks involved before investing (available on KIB website).

 

Original article featured on The Full Frontal.

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