Are you ready for your retirement life? If not, what and how are you going to do before it is too late? These are a few critical questions Malaysians should ask us without further procrastination. With increasing life expectancy and rising living standards, many Malaysians find that their savings are inadequate to meet their retirement needs.
Private Retirement Schemes (PRS) form an integral feature of the private pension industry with the objective of improving living standards for Malaysians at retirement through additional savings of funds. As long-term investment vehicles, PRS are designed to help enhance adequacy and expand coverage of retirement benefits to all segments of the population. It complements Malaysia's mandatory retirement savings scheme - EPF.
Who are PRS Providers?
As of 1st June 2013, there is a total of 8 PRS providers approved by Securities Commission as below:
AmInvestment ManagementAmFunds Management Bhd
- AIA Pension and Asset Management Sdn Bhd
- CIMB-Principal Asset Management
Hwang Investment ManagementAffin Hwang Asset Management Berhad ING Funds BhdKenanga Investors Bhd
- Manulife Asset Management Services
- Public Mutual
- RHB Asset Management
Source: Private Pension Adminstrator (PPA)