Private Retirement Scheme

Proposed Modification to the Existing Deeds of Public Mutual PRS-Conventional Series and Public Mutual PRS-Shariah-based Series (collectively known as “the Schemes”)

We wish to inform members of the Public Mutual PRS-Conventional Series and Public Mutual PRS-Shariah-based Series that pursuant to Securities Commission Malaysia’s revised Guidelines on Private Retirement Scheme (“Guidelines”) which was issued on 1st September 2022 and updated on 28th November 2022, the existing deeds of the Schemes will be modified to incorporate the following changes:

a)	Withdrawal proceeds to be paid within 7 business days;
b)	Inclusion of provisions pertaining to distribution out of capital;
c)	Removal of requirements pertaining to Investment Committee;
d)	Inclusion of provisions pertaining to oversight arrangement to oversee the PRS Provider’s fund management activities;
e)	Inclusion of provisions pertaining to the duties and covenants of the PRS Provider and the Schemes’ Trustee in line with the Guidelines and Guidelines on the Registration and Conduct of Capital Market Services Providers;
f)	Inclusion of provisions pertaining to quorum of Members’ Meeting of a fund where there is only one (1) remaining member; and
g)	Inclusion of provisions pertaining to circumstances where the fund may be terminated without a special resolution being passed at a Members’ Meeting and notice of termination of the fund to be given to the member.

Both the PRS Provider and the Schemes’ Trustee are of the opinion that the interests and rights of the existing members of the Schemes will not be materially prejudiced by the proposed revisions to the existing deeds.

Private Retirement Scheme

What is Private Retirement Scheme (PRS)?

A voluntary contribution scheme
A vehicle to accumulate savings for retirement
Complements contributions made to Employees Provident Fund (EPF)

Why Contribute to PRS?

	Additional Retirement Nest Egg Acts as an additional nest egg besides EPF to accumulate sufficient retirement savings
	Flexible and Affordable Flexible contribution amount according to your affordability Initial investment of RM1,000 and a minimum of RM100 in subsequent contributions
	Money in PRS is Protected from Creditors Money in PRS is protected from creditors as stated in Section 139ZA of the Capital Markets and Services Act (CMSA)
	Tax Incentive Allows you to enjoy personal tax relief¹ of up to RM3,000

¹Including tax relief for deferred annuity.

How Does the Scheme Work?

When you make a contribution, you may choose between:

Default Option		Non-Default Option
Contributions will be automatically allocated to the core fund that corresponds with the pre-determined age group²	or	You may select one or more funds from the core or non-core funds regardless of your age

Your contributions will be maintained in two separate sub-accounts:


Full withdrawal (from both sub-account A and B) can be made upon: Reaching retirement age³ Death Permanent departure from Malaysia	You can make pre-retirement withdrawal for the following purposes (without 8% tax penalty)⁴ Housing purposes (From sub-account B) Healthcare purposes (From sub-account B) Permanent Total Disablement (PTD) / Serious Disease (SD) / Mental Disability (MD) (From both sub-account A and B)

²The age group may be subject to changes as may be determined by the relevant authorities from time to time.
³You are eligible to make full withdrawal upon reaching the age of 55. Securities Commission Malaysia may specify any other age from time to time.
⁴Subject to terms and conditions.

Let Public Mutual help optimise your retirement savings via PRS

Public Mutual is one of the approved PRS providers. We offer nine PRS funds to suit your needs.

Core Funds

Public Mutual PRS – Conventional Series	Public Mutual PRS - Shariah-Based Series	Age Group² (under default option)
Public Mutual PRS Growth Fund (PRS-GRF)	Public Mutual PRS Islamic Growth Fund (PRS-IGRF)	Age below 45
Public Mutual PRS Moderate Fund (PRS-MDF)	Public Mutual PRS Islamic Moderate Fund (PRS-IMDF)	Age 45 to below 55
Public Mutual PRS Conservative Fund (PRS-CVF)	Public Mutual PRS Islamic Conservative Fund (PRS-ICVF)	Age 55 and above

Non-Core Funds

Public Mutual PRS – Conventional Series	Public Mutual PRS - Shariah-Based Series
Public Mutual PRS Strategic Equity Fund (PRS-SEQF)	Public Mutual PRS Islamic Strategic Equity Fund (PRS-ISEQF)
Public Mutual PRS Equity Fund (PRS-EQF)

Why Choose Public Mutual?

Enjoy Additional Benefit

• Free insurance/Takaful coverage⁵
• Enjoy privileges and benefits as a Mutual Gold/Mutual Gold Elite/Mutual Platinum member when you have accumulated the required Mutual Gold Qualifying Points (MGQP)

Ease of Transaction

Public Mutual Online (PMO) provides a fast and convenient way to invest, perform transactions and monitor your investment with ease anytime, anywhere

⁵ For Public Mutual PRS contributors only, subject to terms and conditions. Please refer to the brochure on free insurance/Takaful for more information.

Downloads

Please refer to the Disclosure Document and the relevant fund’s Product Highlights Sheet for more details of the PRS funds.

PRS Vesting Programme

PRS Online Enrolment

PRS Nomination

Resources

PRS Pre-Retirement Withdrawals

Explore our wide range of funds to meet your investment needs

Fund Scheme

Unit TrustPRS

Fund Category

Local-Foreign Mandate

EPF Qualified Fund

Complimentary Insurance/ Takaful

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Contributors 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 24 February 2021 and the relevant fund’s Product Highlights Sheet (PHS) before contributing.

Contributors should understand the risks of the fund(s), compare and consider the fees, charges and costs involved in contributing to PRS fund(s). A copy of the Disclosure Document and PHS of Public Mutual Private Retirement Scheme – Conventional Series and Public Mutual Private Retirement Scheme – Shariah-Based Series can be viewed here.

Contributors should make their own assessment of the merits and risks of the contribution. If in doubt, contributors should seek for professional advice. Please refer here for our investment disclaimer.