• Private Retirement Scheme

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.

Reduce risk exposure


Diversification of your retirement savings to reduce your risk exposure.

Top up your PRS contribution via CIMB Clicks

Exclusively for existing PRS investors with CIMB Bank. Top up facility is now available with CIMB Clicks. 

  

Additional savings

 

Provides additional savings to complement savings from EPF.

A wide range of scheme investments

A variety of schemes investments to choose from to suit your needs and risk preference.

Additional personal tax relief*

Enjoy up to RM3,000 per year personal tax relief on top of the RM6,000 per year tax relief for EPF contribution and life insurance premiums.

*For contributions into the PRS and deferred annuities effective from years of assessment 2012 to 2021

Click here to download :

a) CIMB-Principal PRS Plus Disclosure Document

b) CIMB Islamic PRS Plus Disclosure Document

Terms & Conditions Apply

For more information on CIMB-Principal PRS Plus and CIMB Islamic PRS Plus, visit
www.cimb-principal.com.my/prs

The documents that need to be completed are as follows:

  • Private Pension Administrator (PPA) Account Opening Form
  • Private Retirement Scheme (PRS) Member Application Form
  • A copy of your NRIC (front and back on the same page)
  • 18 years old & above
  • Malaysian or Permanent Resident or non-Permanent Resident (with work permit)

What is the PRS Youth Incentive?

An initiative by the Government to instill the culture of voluntary retirement savings at an early age, the Prime Minister had announced a one-off incentive of RM500 to young individuals who contribute to a PRS. The PRS Youth Incentive aims to encourage the youth to start saving for retirement through PRS which is a complement to their mandatory Employee Provident Fund (EPF) savings. RM500 will be given out to individuals between the age of 20-30 years who participate in a PRS with a minimum cumulative contribution of RM1,000 within a calendar year. The incentive will be effective from 2 January 2014 for a period of five years.


Who is eligible for the RM500 Youth Incentive?

  • PRS Youth Incentive is for Malaysians only.
  • Individuals may be existing Private Pension Administrator (PPA) account holders or new members who make a gross contribution of RM1,000 within any calendar year between 2014 to 2018 in a single PRS fund of a single Provider.
  • Individuals must be aged between 20 and at least 1 month before 31st birthday at the time the member reaches the minimum gross contribution of RM1,000 within a calendar year.
  • Contribution within a calendar year may be on a yearly or monthly contribution.
  • Any employer contribution are excluded from the incentive programme.

 

Terms & Conditions Apply

For more information on PRS Youth Incentive, visit:
www.cimb-principal.com.my/prs/FAQ-@-FAQ-landingpageAccordian3Tier.aspx

The Retirement Savings Calculator takes into consideration:

  • Your expected monthly expenses during your retirement based on your current lifestyle
  • Number of years left until your desired retirement age

Based on this information, the calculator then calculates your monthly contribution starting from now to achieve your required savings at the start of your retirement. The following assumptions are used to compute your monthly contributions and total savings achieved:

  • All savings and gains remain invested until retirement
  • 8% annual returns before retirement
  • 4% annual returns after retirement starts
  • Retirement will last 20 years
  • Monthly expenses during retirement will increase 3% each year

The compounding of interest allows the principal amount to grow at a faster rate. Therefore, the earlier you start saving, the higher your savings will be at the start of your retirement! Refer to the table below to get an estimation of your monthly contributions required according to your monthly expenses during retirement and number of years you have left until your retirement.

Monthly Expenses During Retirement(RM) Years Until Retirement Monthly Savings Needed Starting Now(RM) Total Savings Achieved(RM)
1,000 35
25
15
95
228
626
218,233
2,000 35
25
15
189
456
1,253
436,466
3,000 35
25
15
284
684
1,879
654,700
4,000 35
25
15
378
912
2,506
872,933
5,000 35
25
15
473
1,140
3,132
1,091,166
6,000 35
25
15
567
1,368
3,759
1,309,399
7,000 35
25
15
662
1,596
4,385
1,527,633
8,000 35
25
15
756
1,824
5,012
1,745,866
9,000 35
25
15
851
2,052
5,638
1,964,099
10,000 35
25
15
945
2,280
6,265
2,182,332

Note: The assumed returns are hypothetical and for illustration purposes only. The actual monthly savings needed will vary depending on the actual returns.