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What is the Private Retirement Scheme?
Private Retirement Scheme
What you should know about the Private Retirement Scheme (PRS)
It is a new way to boost retirement savings
The PRS is a voluntary scheme for all individuals who are 18 years old and above. It is an additional way to boost total retirement savings, whether you are an Employees Provident Fund (“EPF”) member or not. If you are an EPF member, the PRS can complement your EPF savings.
It enables you to enjoy additional tax savings
You can enjoy up to RM3000 per year personal tax relief* on top of the RM6000 per year tax relief for the mandatory retirement savings contribution and life insurance premiums. This could be as much as RM780 per year (depending on your tax bracket).
*For contributions into the PRS and deferred annuities effective from years of assessment 2012 to 2021
CIMB-Principal PRS Plus and CIMB Islamic PRS Plus ("PRS Plus") are new private retirement schemes designed to provide choice, investment performance and expertise to help members increase their retirement savings.
Depending on your preference, choose either our conventional or Islamic private retirement schemes. Therefore if end-to-end Shariah compliance is a priority for you, you can choose CIMB Islamic PRS Plus.
With either PRS Plus scheme, you can personalise and select the mixture of funds that best suits your risk and return preference. You can also update your investment choices as and when desired.
You can automate your savings and investment easily and conveniently via regular monthly contributions or make lump sum contributions. The choice is yours as to how much and how often you want to contribute.
Your first move is the most important one. That's why choosing the right partner is everything.
CIMB-Principal Asset Management Berhad ("CIMB-Principal") is an award-winning regional asset manager with international investment capabilities adhering to global best practices in compliance and risk management.
We adopt a focused stocks and bonds/sukuk selection process overlaid with a disciplined investment philosophy. We believe a top-down approach coupled with bottom-up stocks and bonds/sukuk selection is the most reliable source of performance.
Our on-the-ground presence, integrated quantitative and qualitative research is the key to superior stocks and bonds/sukuk selection. We believe disciplined portfolio construction combined with a systematic in-depth review process is the key to consistent performance over time. This is supported by strong portfolio risk management oversight.
CIMB-Principal is able to draw on the global experience, technical expertise and educational resources of its shareholder, the Principal Financial Group® ("The Principal®") for the benefit of PRS Plus members.
So long as you remain a member, you will receive the latest information updates and education needed to make better decisions to optimise your retirement savings with PRS Plus. In addition you can rest assured that administration and operations adhere to global best practices.
The Principal® is a leading global financial company offering businesses, individuals and institutional clients a wide range of financial products and services. In the USA, it serves more than 32,000 retirement plans and 3.4 million plan participants. Its subsidiary Principal Global Investors manages assets for 10 of the 25 largest world pension plans*.
*The list is derived from "P&I/Towers Watson World 300: The Largest Retirement Funds" report on the largest pension plans compared to internal records. [September 2011]
You can sign up via our authorised PRS Consultants at our following channels:
CIMB Bank Berhad
CIMB Islamic Bank Berhad (CIMB Islamic) branches co-located at CIMB Bank branches
Other approved distributor branches
Alternatively you can check with your respective human resource (HR) personnel to find out whether your employer participates in the PRS Plus Partner Programme.
To find out more about the PRS Plus Partner Programme for employers, you may contact us by email at
or contact our Customer Care Centre at (03) 7718 3100 during our office hours from 8.30am - 5.30pm, Mondays to Fridays and we will refer you to one of our authorised PRS Consultants.
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CIMB-Principal PRS Plus Disclosure Document
CIMB Islamic PRS Plus Disclosure Document
Joint Account Opening Form
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