Happy Boxing Day

Private Retirement Scheme (PRS)

In Malaysia, the Private Retirement Scheme (PRS) offers an annual personal tax relief of up to RM3,000. This incentive, managed by the Private Pension Administrator (PPA) Malaysia, is designed to encourage individuals to save more for their retirement on top of mandatory EPF contributions. 

Key Features of PRS Tax Relief

• Maximum Amount: You can claim up to RM3,000 each year for contributions made to any PRS fund. This amount is inclusive of premiums paid for deferred annuities.
• Extended Validity: This tax relief has been officially extended until the year of assessment 2030.
• Tax Savings: Depending on your income tax bracket, this RM3,000 relief can result in actual cash savings of up to RM840 annually.
• Eligibility: Open to all individuals aged 18 and above, including both employees and self-employed persons. 

How to Claim

• Filing: During your annual income tax filing (e.g., using the MyTax LHDN portal), you can declare your PRS contributions under the designated section for personal reliefs.
• Documentation: Ensure you obtain a Contribution Statement from your PRS provider or download a consolidated statement from the PPA Member Portal as proof for tax purposes.
• Gross Contribution: The relief is based on your gross contribution, meaning it includes any sales charges or account opening fees paid. 

Important Restrictions

• Sub-Account Withdrawals: Contributions are split into Sub-account A (70%) and Sub-account B (30%). Pre-retirement withdrawals from Sub-account B for general purposes incur an 8% tax penalty.
• Withdrawal Exemptions: No tax penalty is applied for withdrawals due to death, permanent departure from Malaysia, total permanent disability, or for specific housing and healthcare purposes.
• Employer Contributions: While individuals get the RM3,000 relief, employers contributing on behalf of employees can claim a separate tax deduction of up to 19% of the employee's remuneration. 
  

Waiver Xtra Campaign

Merry Christmas

May the spirit of Christmas bring endless joy & blessings to you and your loved ones.
*Merry Christmas and Happy New Year*
Love Pal & Philo
Palvision.blogspot.com
💫⭐💥💥💥💥💥⭐💫 

BNM Tells Insurers To Settle Medical Claims Promptly, Prohibits Applying Unknown Exclusions

https://codeblue.galencentre.org/2025/12/bnm-tells-insurers-to-settle-medical-claims-promptly-prohibits-applying-unknown-exclusions/ 

CI Protector

Happy Onam

Happy Father's Day

RCM 25th Installation

https://forms.gle/yJUrLfKhVqRDaNCc7

Monthly Updates May 2025

- *Unit Trust & PRS*

Market is showing recovery. Take advantage and invest now to enjoy dollar cost averaging.

http://palvision.blogspot.com/2025/05/klse-08052025.html

- *Rotary*

Rcmd3300.blogspot.com

Installation Night 12th July 25

Google Form

EDM

- *Hash Recreation*

Khhhkj.blogspot.com

BNH 21-22 June 2025

Advertisement Opportunity 600 pax

https://tinyurl.com/4cernk6m

*Protection and Investment*

- Three Guards, One Promise

- 1 January 2025 – 30 June 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/three-guards-one-promise.html

- FPPO - Future Premium Payment Option

- 1 May 2025 - 30 June 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/future-premium-payment-option.html

- Wonderful Rewards, Wondrous Treats

- 1 May 2025 – 31 May 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/wonderful-rewards-wondrous-treats.html

- Sepakat Membawa Berkat

- 1 May 2025 – 31 May 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/sepakat-membawa-berkat.html

- Critical Cover, Assured Future

- 1 April 2025 – 30 June 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/critical-cover-assured-future.html

- Critical Moments, Critical Protection

- 1 April 2025 – 31 May 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/critical-moments-critical-protection.html

- Inspired Leap into Lasting Legacy Campaign

- 1 April 2025 till 30 June 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/inspired-leap-into-lasting-legacy.html

- Employee Cashback

https://www.aia.com.my/en/about-aia/campaign-promotions/employee-cashback.html

Regards

Palani 

AIA & Manulife

President 2025-2026

Rotary Club of Melawati 

0123063994

palvision.blogspot.com

Rotary Project

https://rcmd3300.blogspot.com/2025/05/menstrual-pads.html

Monthly Updates May 2025

- Unit Trust & PRS

Market is showing recovery. Take advantage and invest now to enjoy dollar cost averaging.

http://palvision.blogspot.com/2025/05/klse-08052025.html

- Rotary

Rcmd3300.blogspot.com

Installation Night 12th July 25

https://forms.gle/yJUrLfKhVqRDaNCc7

- Hash Recreation

Khhhkj.blogspot.com

BNH 21-22 June 2025

Advertisement Opportunity 600 pax

https://tinyurl.com/4cernk6m

Protection and Investment

- Three Guards, One Promise

- 1 January 2025 – 30 June 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/three-guards-one-promise.html

- FPPO - Future Premium Payment Option

- 1 May 2025 - 30 June 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/future-premium-payment-option.html

- Wonderful Rewards, Wondrous Treats

- 1 May 2025 – 31 May 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/wonderful-rewards-wondrous-treats.html

- Sepakat Membawa Berkat

- 1 May 2025 – 31 May 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/sepakat-membawa-berkat.html

- Critical Cover, Assured Future

- 1 April 2025 – 30 June 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/critical-cover-assured-future.html

- Critical Moments, Critical Protection

- 1 April 2025 – 31 May 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/critical-moments-critical-protection.html

- Inspired Leap into Lasting Legacy Campaign

- 1 April 2025 till 30 June 2025

https://www.aia.com.my/en/about-aia/campaign-promotions/inspired-leap-into-lasting-legacy.html

- Employee Cashback

https://www.aia.com.my/en/about-aia/campaign-promotions/employee-cashback.html

Regards

Palani 

AIA & Manulife

President 2025-2026

Rotary Club of Melawati 

0123063994

palvision.blogspot.com

KLSE 08/05/2025

Happy New Year

Understanding the new bank nomination amendment

Cashleas Reimbursement

https://www.freemalaysiatoday.com/category/nation/2025/03/17/keep-cashless-reimbursements-private-hospitals-tell-insurers/

Selamat Hari Raya

Happy Ugadi

Happy Valentines Day

Happy Thaipusam

Happy Chinese New year.

Happy Ponggal

Happy New Year

Happy New Year

Merry Christmas

Tax Relief for Year 2024

Happy Mother's Day

Selamat Hari Raya

Happy Ugadi

Hindu festival Ugadi, also known as Yugadi – whose literal meaning is 'new beginning', is observed as the Hindu New Year. Ugadi is considered the first day of the Hindu calendar, with Hindus believe it to be the day when Brahma created the universe.

Happy Good Friday

Manulife and Public Mutual the biggest winners at LSEG Lipper Fund Awards 2024

Manulife and Public Mutual the biggest winners at LSEG Lipper Fund Awards 2024 https://theedgemalaysia.com/node/703681

Happy Leap Day

Uproar over health premium hike as Bank Negara keeps mum

For the second time in three years, health insurers have seen it fit to increase their premiums by a hefty 20��20or more.https://focusmalaysia.my/uproar-over-health-premium-hike-as-bank-negara-keeps-mum/

Only 6 more days left - 01/03/2024

6️⃣ *MORE DAYS TO GO before APH withdrawn*‼️

Is your existing customers having adequate medical insurance?

Quickly revisit them for *AIA Financial Health Check* to check out their existing life & medical coverage.

⬆️ *UPGRADE TO APH* while it is still available.

Regards
Palani
0123063994
Palvision.blogspot.com

Happy Valentines Day

Happy Chinese New year

Happy Thaipusam

Happy Ponggal

Happy New Year

Merry Christmas

Selamat Hari Malaysia

What type hasher are you?

PRS Offer

 

AIA Premium Cashback Campaign

 

Happy Mothers Day

Think about your Aging mum

https://discover.aia.com.my/rsc/SLU9nHeO

Thanks..
Take Care..

Regards
Palani
0123063994
palani.nn@gmail.com
palvision.blogspot.com

Happy Wesak Day

Happy Labor Day

Selamat Hari Raya

May the joy of this festive season light your life with love, peace and hope.

Selamat Hari Raya! and Seasons Greetings.

Happy Vishu

Happy New Year

Happy New Year

Happy Easter

Good Friday

Happy Ugadhi

Wishing you and your family good health, wealth and happiness in abundance..🤣🤣

Happy Valentines Day

Happy CNY