PRIVATE RETIREMENT FUND

Tax deduction available under Private Retirement Fund are:

Individuals - tax relief of up to RM3,000 for the first 10 years from assessment year 2012 (For 10 years YA 2012 – YA 2021); and

Employers - tax deduction on contributions to PRS made on behalf of their employees above the EPF statutory rate  up to 19% of employees’ remuneration.

Source : Private Retirement Fund booklet