Private Retirement Scheme
PRS Pre-Retirement Withdrawal
PRS Members can make Pre-Retirement Withdrawals for Permanent Total Disablement (PTD), Serious Disease (SD) and Mental Disability (MD) with effect from 1 August 2017.
How do I apply?
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1.
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PRS Members can submit the withdrawal request and documents via:
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a) Normal Withdrawal Application
- Complete the PRS Withdrawal Form for PTD/SD/MD
- Original Medical Report* from Government/Private Hospital.
*The date of the Medical Report must not exceed 1 year from the date the withdrawal form is received by PRS Provider.
b) Fast-Track Withdrawal Application**
- Complete the PRS Withdrawal Form for PTD/SD/MD
- Proof of withdrawal from Employee Provident Fund (EPF) or Social Security Organisation (SOCSO)(Medical Report is not required)
**A Member is allowed to make only one Fast-Track Withdrawal using his/her EPF/SOCSO supporting documents.
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2.
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Only full withdrawal is allowed under PTD/SD/MD. Withdrawal proceeds are exempted from the 8% tax penalty.
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3.
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The PRS Withdrawal Form and supporting documents are to be submitted to any PRS Provider in which the PRS Member has an account with.
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For more information on the forms and procedures, please contact our Customer Service Hotline at 03-2022 5000.