7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 1/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.33PRS – ISEQF NOV 2015
RM500.00Private Retirement Scheme (PRS) Youth Incentive•RM500 one-off contribution from the Government, whom accumulated a
minimum gross contribution amount of RM1,000 within a year •For Malaysian youths between 20-30 years old
•Valid from 2014 to 2018
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 2/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.34PRS – ISEQF NOV 2015
• Syarikat Takaful Malaysia BhdInsurance
Company• 18 -59
• coverage will cease at age 60Coverage Age
• Minimum NAV of RM5,000 at
any one time (can beaccumulated from various PRSaccounts of Shariah basedseries of funds).
Eligibility
•
Up to RM100,000 per contributor
Maximum
Coverage
• Sum Cover is equal to the NAV ofunits held. RM1 coverage forevery RM1 NAV held.
Sum Cover
Free Takaful Coverage
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 3/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.35PRS – ISEQF NOV 2015
Direct Commission
RANK Personal Personal / Group
Overriding
Total
UTC 2.00% - 2.00%
UTC-AS 2.00% 0.29% 2.29%
UTC-AM/CM 2.00% 0.47% 2.47%
UTC-GAM/SCM 2.00% 0.60% 2.60%
Benefits to PRC
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 4/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.36PRS – ISEQF NOV 2015
Career Benefit
PSNAV
(All Rank)
CB rate
(Based on
PSNAV)
PSNAV
(All Rank)
CB rate
(Based on
PSNAV)
First 3 mil (3) 0.2100% Next 10 mil (45) 0.2700% Next 3 mil (6) 0.2200% Next 10 mil (55) 0.2800%
Next 4 mil (10) 0.2300% Next 10 mil (65) 0.2900%
Next 5 mil (15) 0.2400% Next 15 mil (80) 0.3000%
Next 10 mil (25) 0.2500% Next 20 mil (100) 0.3100%
Next 10 mil (35) 0.2600% Thereafter (>100) 0.3200%
Benefits to PRC
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 5/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.37PRS – ISEQF NOV 2015
Career BenefitRank
(Based on GSNAV)Group CB
UTC-AS 0.0400%
UTC-AM/CM 0.0600%
UTC-GAM/SCM 0.0800%
Benefits to PRC
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 6/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.38PRS – ISEQF NOV 2015
Introduction to Vesting Scheme(For Employers)
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 7/14All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.39PRS – ISEQF NOV 2015
What is “VESTING”?
•
Vesting is where an employer makescontributions on behalf of employees as
indicated in a Vesting Schedule.
• The employer has the option to allow theemployees to access the contributions
immediately or after fulfilling the
determined no. of years of employmentservice
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 8/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.40PRS – ISEQF NOV 2015
Vesting Scheme: Straight Vesting
Straight VestingThe employees will gain 100%
ownership after a specific period
of service has been fulfilled.
Otherwise, the employees will
not be entitled to receive the
contributions made by theemployer on their behalf.
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 9/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.41PRS – ISEQF NOV 2015
Sample: Straight Vesting Scheme
For illustration purpose only*Year End 1 2 3 4 5
Annual
Contribution
(Employer) - RM
5,000 5,000 5,000 5,000 5,000
NAV/U – RM 0.50 0.50 0.50 0.50 0.50
Units 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
(Employee)0 0 0 0 50,000
* The above table is for illustration purpose only. Sales charge, PPA fee etc. are not included.
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 10/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.42PRS – ISEQF NOV 2015
Vesting Scheme: Revolving Vesting
Revolving VestingThe vesting period starts all
over again once the first
terms of vesting are met.
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 11/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.43PRS – ISEQF NOV 2015
Sample: Revolving Vesting SchemeFor illustration purpose only
Year End 1 2
S
T
AR
T
O
VE
R
3 4
S
T
AR
T
O
VE
R
5
Annual
Contribution
(Employer) - RM
5,000 5,000 5,000 5,000 5,000
NAV/U – RM 0.50 0.50 0.50 0.50 0.50
Units Allocated 10,000 10,000 10,000 10,000 10,000
Total Units 10,000 20,000 10,000 20,000 10,000
Vesting % 0% 100% 0% 100% 0%
Vested Units
(Employee)0 20,000 0 20,000 0
Vesting Term: Every 2 Years
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 12/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.44PRS – ISEQF NOV 2015
Sub-Accounts
Vested units are maintained in two separate sub-
accounts:
• Sub-account A – holds 70% of all contributions
made, reflected in units
•
Sub-account B –
holds 30% of all contributionsmade, reflected in units.
Unvested units are reflected only in sub-account A
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 13/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad.45PRS – ISEQF NOV 2015
Benefits for employers
Tax ReliefPromote loyalty
amongstemployees
Attract
employees
Retain
employees
7/21/2019 PRS RM500 & Free Insurans Nov 2015
http://slidepdf.com/reader/full/prs-rm500-free-insurans-nov-2015 14/14
All right reserved. The information published may not be reproduced or copied by any person or incorporate
into another documents or other materials without the prior written consent of Public Mutual Berhad46PRS – ISEQF NOV 2015
Contribute to PRS-ISEQF
You can choose to retire with PEACE OF MIND
Top Related