Buying a Private Retirement Fund (PRS) can enjoy a personal income tax deduction of up to RM3,000, which makes many people hesitate to invest in PRS. Here we bring you investment income data for the past 1 year and the past 5 years.
According to information published on the official website of the Private Retirement Fund (PRS), PRS has provided an investment rate of return of up to 16.14% p.a. in the past year and an investment rate of return of up to 6.17% p.a. in the past five years.
The investment performance of funds under PRS has begun to improve from November 2022 to October 2023. Public Mutual PRS Islamic Growth provides an investment return of 16.14% p.a., and Public Mutual PRS Islamic Strategic Equity provides an investment return of 12.80% p.a. rate, Public Mutual PRS Moderate provides an investment rate of return of 10.39% p.a.
From a 5-year perspective, PRS funds can bring a maximum investment return of 6.17%. Principal Islamic PRS Plus Asia Pac Ex Jpn Eq A brings an investment income of 6.17% p.a. AmPRS – Islamic Equity D brings an investment income of 5.98%p.a., and Public Mutual PRS Islamic Growth brings an investment income of 5.81%p.a.
PRS is a retirement plan initiated by the government, mainly for people who want to make additional preparations for retirement life. Private Retirement Fund Schemes (PRS) are designed to give the people a second alternative to the Employees Provident Fund (EPF).
Private Retirement Schemes (PRS) are managed by individual trust fund units in the country, but are supervised by PPAs established by the government. Therefore, there is no doubt about the legality of private pension fund schemes.
PRS has many benefits. The first benefit is that investors can freely choose the trust fund units they want to invest in. Members can make their own judgment and choose trust fund units with high returns. PRS investors can also receive personal income tax relief of up to RM3,000.
