Private Retirement Scheme
PRS Temporary Tax-exempted Withdrawal
In view of the challenging times due to the Covid-19 pandemic, the government is allowing PRS members to make a one-time pre-retirement withdrawal with temporary tax penalty exemption of up to RM1,500 worth of units from their sub-account B^ from 30 April to 31 December 2020.
Interested PRS members can proceed to Public Mutual Online for withdrawal.
^Currently, all pre-retirement withdrawals from sub-account B that are not due to housing or health purposes is subject to an 8% tax penalty for members below 55 years old.
What do I need to know?
- Open to all PRS members below 55 years old.
- This is a one-time withdrawal only.
- To withdraw from Sub-account B only.
- Withdrawal can be made from one or more funds.
- The aggregate withdrawal amount cannot exceed RM1,500 worth of units.
- The withdrawal can only be made one year after the first contribution to any fund under the scheme.
- Withdrawal can be done via PMO only. Please visit www.publicmutualonline.com.my