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PRS Youth Incentive

Terms and Conditions

The following conditions apply for the incentive;

1. Gross contributions cannot be sourced from employer contributions (whether via vesting
schedule or otherwise), only individual contributions are eligible.
2. Gross contributions cannot be achieved via transfer from a different Provider, however
switching between funds is allowed.
3. The RM1,000 incentive is only applicable to PRS contributions made for the period beginning
1 January 2017 to 31 December 2018.
4. PRS Members who qualified for the previous RM500 PRS Youth Incentive during the period
of 2014 to 2016 will not be eligible to receive the RM1,000 PRS Youth Incentive. If you are an
existing or new PRS Member who have yet to benefit from the incentive, you are eligible to
receive the RM1,000 PRS Youth Incentive if you contribute a minimum of RM1,000 before
you reach the age of 31 years between the period of 2017 to 2018.
5. The minimum contribution amount must be a gross amount of RM1,000 which is inclusive of
all fees and charges.
6. The RM1,000 must come from a single PRS Fund. If an individual had invested RM500 into a
Growth Fund, RM500 into a Moderate Fund and RM500 into a Conservative Fund of the
same Provider, he would be excluded from receiving the incentive as he has not met the
minimum contribution amount requirement in a single Fund.

Example of eligibility based on the age of the Member


Gross Contribution on a Staggered basis

The gross contribution amount of RM1,000 must be accumulated within 2017-2018.

Employer Contributions

Employer contributions made to PRS account as part of employee benefits are excluded from this
incentive programme. Only individual contributions made will be considered for the incentive.

However, for contributions made via salary deduction, the individual will be eligible to receive the
incentive (subject to fulfilling the other eligibility requirements), because the contribution is derived
from the individuals own salary.

Fees, Charges and Tax

The RM1,000 incentive will not be subject to PPAs annual fee and Providers sales charge.

Application of Tax Relief on the Youth Incentive

Please note that the one-off incentive of RM1,000 from the Government to qualified contributors is
not eligible for the annual RM3,000 tax relief claim as the contribution was not made by the PRS
Member in his individual capacity.