Private Retirement Scheme (PRS) in Malaysia Learn more about Private Retirement Scheme (PRS) in Malaysia. The benefits, tax incentives & providers of PRS scheme as well as comparison between PRS and Employees Provident Fund (EPF). What is PRS (Private Retirement Scheme) PRS is a voluntary long-term investment scheme designed to help individuals accumulate savings for retirement. PRS seek to enhance choices available for all Malaysians, whether employed or self-employed, to voluntarily supplement their retirement savings under a well-structured and regulated environment. Each PRS offers a choice of retirement funds from which individuals may choose to invest in based on their own retirement needs, goals and risk appetite. The fund options under a PRS are intended to enhance long-term returns for members within a regulated framework. Assets of each PRS are segregated from the PRS Provider and held by independent Scheme Trustee under a trust. Tax Incentives for PRS: Tax relief up to RM3,000 per annum will be given for an individual’s contribution to the PRS Employers will also be given tax deduction on contributions to PRS made on behalf of their employees of up to 19% of the employees’ remuneration. PRS Providers in Malaysia: The 8 PRS providers in Malaysia as of 28th August 2013: AmInvestment Management Sdn Bhd AIA Pension and Asset Management Sdn. Bhd CIMB-Principal Asset Management Bhd Hwang Investment Management Berhad Kenanga Investor Berhad Manulife Asset Management Services Berhad Public Mutual Bhd RHB Investment Management Sdn Bhd PRS (Private Retirement Scheme) vs EPF (Employees Provident Fund) Check out the comparison between PRS and EPF in terms of contribution nature, minimum amount, frequency, withdrawal, selection of funds & dividends policy. * In Malaysian retirement framework, the voluntary PRS is to be complemented with the mandatory contributions made by both employee and employers to the EPF scheme. Visit PPA to learn more about Private Retirement Scheme. PRS: Save. Invest. Retire. Enjoy.