PRS Members Survey

From the survey that PPA conducted in Dec 2024, we would like to provide answers to the following questions:

There were also respondents who decided not to top up. We wish to share the reasons given for our understanding as follow.

• Bought new fund in PRS
• Cannot be withdrawn online
• Cannot login to my account
• Contribution not on me
• Current financial status did not allow me to save in PRS
• Fees charged by fund managers are too high
• Financial matter
• High commitment
• Housewife (retired)
• I already contributed more than needed for the tax relief
• I am a part-time student and also a single mom with 1 kid with autism disorder
• I am over 60
• I am retired at the moment
• I am retired right now, so no salary for paying it
• I cannot withdraw at all. Why put such limit on voluntary contributions?
• I don’t know how to top up and withdraw
• I didn’t know I needed to top up
• I don’t see a reason why I need to. What’s the benefit?
• I don’t see any value in PRS other than tax relief. Returns aren’t attractive at all.
• I have no confidence in this. Have other saving plans.
• I lost a few hundred RM every year with CIMB
• I tried to top up 500 but the fund has a minimum of 1000 requirement to top up
• I was forced by my agent representative to top up every year
• I’ve retired
• I’m at the maximum already
• I’m not satisfied with the PRS fund’s performance.
• Insufficient funds
• It’s a hassle to make contributions to PRS.
• I’ve other saving plans.
• Jobless
• Lack of funds
• Maximum limit of tax relief
• Might top up when I have more stable income
• My first time in 2024
• My income environment has changed
• My money is getting lesser if I continue investing. This type of asset management company should be kicked out of PRS.
• No budget
• Not enough to save
• No extra funds for saving
• No funds due to no more job
• No income
• No money
• No need
• Nomination requires physical presence in PJ outlet during working day. Inconvenient. It’s already a challenge to perform such a simple task.
• Not budgeted for it
• Not enough budget
• Not enough funds
• Not in the plan to top up yet
• Not working
• Other fund
• PRS fund performance is lousy. Internally, they keep changing their funds, yet I’m still getting a loss, even my fund is under the conservative region. How to invest when you are making a loss of the money you are supposed to keep for retirement age? I hope PRS admin can do something about this and not ignore this.
• Retired
• Returns from contributions are not satisfactory. Inflation forced me to save less; therefore, my expectation from PRS is that it cannot underperform vs EPF. If not, why should I invest in PRS? Just keep it in EPF.
• Saya dah lupa apa account saya, saya punya email dan no masa itu daftar pakai lain tidak tahu macam mana nak tukar. Please guide me.
• Short of funds
• The agent assigned to me has not been in contact whatsoever.
• The function contradicts EPF. Also, with the fund investment, there are other funds that can easily cash out anytime, which is more attractive.
• The system is not user-friendly
• The tax relief does not benefit me.
• The tax relief has remained and never increased
• The tax relief is insignificant, yet it triggered a problematic audit process by LHDN, which took years to be resolved despite having the PRS statement as proof. Will not subscribe again. Not worth it.
• The website is quite a hassle. When I reset my password, the confirmation email does not come to my inbox, making it harder to sign in to my PRS account to top up.
• Tight cash flow
• Unemployed
• What reason makes you not top up in PRS this year?
• Will top up in 2025
• With rising costs, the tax relief for PRS should increase.