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What is Private Retirement Scheme?

 A voluntary long-term investment scheme

 For Malaysians and non-Malaysians as well

 Building savings for retirement

 Complement contributions made to Mandatory


Retirement Scheme

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Regulatory Framework

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PRS Account Structure

Sub Account A Withdrawal at


70% retirement age
Employee’s Private
Retirement
Account Can be withdrawn
Sub Account B
once a year subject
30% to 8% tax penalty

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PRS Pre-Retirement Withdrawals¹
In the event of death² ¹Exempted
from the 8%
tax penalty

Permanent departure from Malaysia²


²As approved
under section
Permanent total disablement³ 109G of the ITA
1967

Serious disease³ ³To be approved


as amendment
under the Finance
Bill (2) 2013

Mental disability³
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Who Can Contribute?

 All Individuals  Employers

 Age 18 and above  Contributing on

 Malaysian / Foreigner behalf of employees

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EMPLOYER CONTRIBUTION

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SIGNIFICANT COSTS TO REPLACING
EMPLOYEES

Job
Headhunting
Advertisement
Fees
Costs

Drop in High
Productivity Turnover

Training
Costs Low Morale

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Employee Retention Remains A Key
Challenge in Malaysia……

The Ranstad
World of
Work Report
2013/14

of employers agree that staff turnover is


a prevailing problem for business
operations in Malaysia.
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BENEFITS TO EMPLOYERS

Customise for Rights to Contribution Tax Deductions


Talent Retention
Employers have the right Employers are allowed
Employers have a to claw back contributions tax deductions on
choice of if employees leave before contributions to PRS
Vesting Options vesting period

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Tax Deductions
Employers can enjoy tax deduction on contributions to PRS made on
behalf of their employees of up to of the employees’
remuneration inclusive mandatory retirement scheme.

Mandatory
Up to 12% - 13%
of employees’ Retirement
remuneration Scheme
Employee’s
Retirement
Fund
Up to 6% - 7%
of employees’
remuneration PRS
•Source: Securities Commission Malaysia (www.sc.com.my)
Frequently Asked Questions on Private Retirement Scheme (PRS)
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Example of Simple Tax Computation by a Company
Gross Income XXX
Less: Allowable expenses
Staff salary 1,000,000
Mandatory Retirement Scheme Up to 12% - 13% of employees’
contribution 120,000 remuneration
Voluntary Contribution to Mandatory
Retirement Scheme on top of statutory rate Up to 6% - 7% of employees’
PRS Contribution 70,000 remuneration are tax deductible
Telephone charges XX
Directors’ fees XX
Printing costs XX (XXX)
Adjusted Income XXX
Less: Capital Allowances XX (XX)
Statutory Income XXX
Less: Biz losses b/f XX (XX)
Aggregate Income
Less: Current yr Biz losses XX (XX)
Chargeable Income XX
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Benefits to the Employees

Free Personal
Money in PRS is
Accident Insurance/
Protected from
Takaful Coverage
Creditors
 For Public Mutual PRS members
aged between 18 -59  All members’ benefits/
money in PRS are protected
 Maximum coverage of RM100,000 from creditors
per contributor (Section 139ZA of the CMSA)

(subject to terms and conditions)

For Internal Circulation only


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For Internal Circulation only
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What is “VESTING”?
• Vesting gives an employee rights to
employer-provided assets over time,
which gives the employee an incentive to
perform well and remain with the
company
• Terms and conditions of vesting are set
out in the Vesting Schedule
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Vesting Options
1. Straight Vesting 2. Revolving Vesting
Description Vesting Description Vesting
Less than X 0% Less than X 0%
number of years number of years
Completion of X 100% Completion of 100%
number of years EVERY X number
of years

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Straight Vesting
Vesting Term: 5 Years For Illustration Purposes Only
Year End 1 2 3 4 5

Employer
5,000 5,000 5,000 5,000 5,000
Contribution (RM)

NAV/Unit (RM) 0.50 0.50 0.50 0.50 0.50

Unit Allocated 10,000 10,000 10,000 10,000 10,000


Total Units 10,000 20,000 30,000 40,000 50,000
Vesting (%) 0 0 0 0 100
Vested Units
0 0 0 0 50,000
(Employee)
For Internal Circulation only
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Revolving Vesting
Vesting Term: Every 2 Years For Illustration Purposes Only
Year End 1 2 3 4 5
S S
Employer
t t
Contribution 5,000 5,000 5,000 5,000 5,000
(RM) a a
r r
NAV/Unit (RM) 0.50 0.50 0.50 0.50 0.50
t t
Unit Allocated 10,000 10,000 10,000 10,000 10,000
Total Units 10,000 20,000 o 10,000 20,000 o 10,000
v v
Vesting (%) 0 100 0 100 0
e e
Vested Units
0 20,000 r 0 20,000 r 0
(Employee)
For Internal Circulation only
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For Internal Circulation only
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Investment Default Option
Core Funds Age Asset Allocation
Growth Fund below 40 years Equity (up to 20% in
overseas)
30%

Debentures/fixed
70%
income and money
market instruments

Equity (up to 10% in


Moderate Fund 40 years and above overseas)
but have not yet 40%

Debentures/fixed
reached 50 years 60%
income and money
market instruments

Equity (only invest


Conservative Fund 50 years and above in domestic
20% 20% market)
Debentures/fixed
income

Money market
60% instruments

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Public Mutual PRS Core Funds
Public Mutual PRS Public Mutual PRS Public Mutual PRS
Growth Fund ¹ Moderate Fund ¹ Conservative Fund ¹
Category
Fund

Core Growth Core Moderate Core Conservative

The Fund seeks


Investment

The Fund seeks long- income and capital The Fund seeks
Objective

term² capital growth growth over the long- income consistent


and to a lesser extent term² through a with capital
income. balanced asset preservation³.
allocation approach.
Note: ¹Conventional and Shariah Compliant are available
²Long-term refers to a period of more than 5 years
³These are neither a capital guaranteed nor capital protected funds
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Public Mutual PRS Non-Core Funds¹
Public Mutual PRS Public Mutual PRS Public Mutual PRS
Equity Fund Strategic Equity Fund Islamic Strategic
Equity Fund
Category
Fund

Non-Core Equity
Investment
Objective

To achieve long-term² capital growth.

Note: ¹Open for non-default option only)


²Long-term refers to a period of more than 5 years
For Internal Circulation only
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Disclaimer
The information and materials provided herein is for general information only and is to provide you with a guide and to give you a general
understanding of Private Retirement Scheme. Public Mutual (‘the Company’) has not taken any steps to ensure that the information is suitable for the
audience. In preparing the information herein the Company did not have regard to the specific need of the audience. The information is not to be
relied upon in substitution for the exercise of independent advice. You should consult your bankers, lawyers, consultants, accountants or financial
advisers before acting or relying on any information, advice given or deciding to use the information herein provided.

Public Mutual has made a sincere effort to ensure the accuracy and quality of this presentation. However, no warranty or representation, expressed
or implied, is provided. Public Mutual disclaims any responsibility or liability for any direct or indirect damage, loss or expenses incurred as a result of
using this presentation. Furthermore, no liability is accepted in the event of loss arising from a lack of accuracy, suitability or quality of the
information contained therein. Users should consult qualified & licensed financial planners, bankers or accountants and obtain independent
professional financial advice before acting or relying on any suggestion or information in this presentation.

You are advised to read and understand the contents of the Disclosure Document of Public Mutual Private Retirement Scheme – Conventional Series
and Disclosure Document of Public Mutual Private Retirement Scheme – Shariah-based Series dated 26 November 2012 before contributing. These
Disclosure Documents have been registered with the Securities Commission Malaysia who takes no responsibility for their contents, and neither
should their registration be interpreted to mean that the Securities Commission Malaysia recommends the Scheme or the fund(s) under the Scheme.
You should note that there are fees, charges and risks involved in contributing to PRS funds; and that the prices of units and distribution payable, if
any, may go down as well as up. Please refer to the Disclosure Documents for information pertaining to the above. Past performance of a PRS fund is
not an indication of its future performance. Applications to contribute must come in the form of a duly completed PPA account opening form (for the
first time) and new fund application form referred to in and accompanying the Disclosure Document. A copy of the Disclosure Document can be
obtained from your attending PRS consultant, nearest Public Mutual or Public Bank branch. You have the right to request for a copy of the relevant
fund’s Product Highlights Sheet. You are advised to read and understand the contents of the relevant fund’s Product Highlights Sheet before making
any contribution decision. A copy of the relevant fund’s Product Highlights Sheet can be obtained from your attending PRS consultant, nearest Public
Mutual or Public Bank branch.

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