Under the Private Retirement Scheme (PRS) Youth Incentive, the Government will make a RM1,000 one-off contribution to Malaysian youths who participate in the PRS scheme. It aims to provide a head start for Malaysian youths by cultivating a retirement savings culture amongst them from an early age. The incentive is made available for a period of two years from 2017 to 2018
Private Retirement Schemes (PRS) is a voluntary long-term savings and investment scheme designed to help you save more for your retirement. PRS seek to enhance choices available for all Malaysians whether employed or self-employed to 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 PRS are intended to enhance long-term returns for members within a regulated framework.