Happy Tuesday everyone! Sharing a portion of Prime Ministers text presented in Budget 2014. Pension Scheme 64. The Government recognises the importance of savings from an early age to ensure sufficient savings after retirement. To further increase savings, the Government encourages youth to undertake long-term investment through the Private Retirement Scheme (PRS). 65. Towards this, the Government proposes a one-off incentive of RM500 to contributors who participate in the PRS scheme with a minimum cumulative investment of RM1,000 within a year. The incentive, which is available for individuals aged between 20 and 30 years, is expected to attract 420,000 youth contributors nationwide. The incentive will be implemented from 1 January 2014, for a period of 5 years, involving an allocation of RM210mil. Source: Bernama
Posted on: Tue, 29 Oct 2013 03:06:22 +0000
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