FOR IMMEDIATE RELEASE

PPA’s “Go PRS, Get Treats!” Rewarded Malaysians who Save for Retirement

PETALING JAYA (24 January 2020): Private Pension Administrator Malaysia’s (PPA) inaugural “Go PRS,

Get Treats” contest saw Malaysians throughout the country participating and taking the initiative to

plan as well as save for their future with the Private Retirement Schemes (PRS), a voluntary long-term

savings and investment scheme.

The Grand Prize of RM3,000 in PRS units went to Selangor resident Lim Tzyy Wee, who received his

reward during a prize presentation ceremony organized by PPA. It was a case of double happiness for

Lim as he was also among the 80 recipients of a PRS Treat, worth RM100 in PRS units, awarded through

the contest’s monthly draw, from August to November 2019.

“I only came across PRS two years ago and had some extra money to save in 2019,” the 33-year-old

Lim said. “I don’t really have much time outside working hours, so I personally like how simple the

online process is to enrol for a PRS account. The whole process took less than 30 minutes.”

“The PRS Online service was developed with individuals like Lim in mind,” said Husaini Hussin, CEO of

PPA. “In the age of fintech where people are comfortable getting their information online, they would

naturally do their own research and read through the information provided on PPA’s website.”

“Aside from highlighting the importance of retirement planning, we launched this contest knowing

the value people placed on the convenience of an online service,” Husaini added. “With PRS Online

and some easy-to-use tools like the retirement calculator available on PPA’s website, it is very easy to

start saving in PRS. The PRS Treat is just a little extra reward to the recipient’s retirement savings.”

This was true for Seh Soon Lee, who took home the Second Prize of RM2,000 in PRS units, and Tee

Chui Teng, who received the Third Prize of RM1,000 in PRS units. Both knew about PRS before the

contest and were happy to see PRS Treats on offer when they decided to take the plunge.

For Seh, saving for retirement was not a priority because he only just started working three years ago.

But reading about “Go PRS, Get Treats” in the news got him thinking about how much he needed to

have in order to live comfortably once he stopped working.

“According to PPA’s retirement calculator, I would need RM1 million to have a withdrawal plan of

about RM6,000 per month for 20 years,” said Seh, who hails from Perak. “It is good to diversify and

have extra retirement savings due to inflation, as the mandatory scheme alone might not be enough.”

On the other hand, it was about managing priorities and budget for Johor-born Tee. She first learnt

about PRS through articles on the PRS personal tax relief of up to RM3,000 per year. The affordability

factor of PRS Online stood out too, as the minimum initial investment amount is only RM100.

“Although I knew about the tax relief, as my friends would share articles and remind me during tax

season, I didn’t know I could enrol online,” Tee said. “The contest showed me how to do so with just

a few simple steps. I did it in my own time and the e-banking transaction was convenient and secure.”

“It is great to see the top three prize recipients coming from three different states, with all below the

age of 35 to boot. They might be at different stages of life, but it is always the right time to start

cultivating the habit of regular savings.” Husaini said. “We believe a contest like this raises awareness

on retirement preparedness and is in line with the National Strategy for Financial Literacy 2019-2023.”

Every month during 2019’s “Go PRS, Get Treats” contest, 20 PRS Treats worth RM100 in PRS units

each were awarded via monthly draws to individuals who enrolled via PRS Online and answered three

questions. All enrolments during the contest period were then automatically entered into the Grand

PRS Treats Draw for the Grand Prize, Second Prize and Third Prize.

This year, PPA intends to launch another contest in the second-quarter (Q2) so that more Malaysians

will join the close to 460,000 PRS Members already on the retirement savings bandwagon. As at 31

December 2019, the Net Asset Value (NAV) of all 57 PRS funds stood at RM3.5 billion.

Going forward, PPA will continue to produce educational content to lift the level of financial literacy

among Malaysians, and make information as accessible and as transparent as possible. For example,

the PRS fund performance page on PPA’s website has been enhanced to make it easier to view all PRS

fund performance, including their respective sales charges and management fees.

Below is a quick view of PRS fund performance according to fund categories, annualised since

inception:

Top Performing PRS Funds in the Following Categories Annualised Returns* (%)

Conservative 4.29

Moderate 6.02

Growth 6.22

Non-Core 11.35

Non-Core Islamic 6.48

Source: Morningstar (6 Jan 2020) *Annualized returns indicate the average growth for each year over a given time period, which in this instance, is from the date of funds’ inception up to 31 Dec 2019

For more information about PRS Online and PRS fund performance, please visit www.ppa.my

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About PPA

Private Pension Administrator Malaysia (PPA) is the central administrator for the Private Retirement

Schemes (PRS). PPA is a body approved by the Securities Commission Malaysia and is established to

administer and promote the growth of the PRS industry.

A significant role of PPA is to manage a life-time central account for PRS Members. PPA continually

advocates the importance of retirement savings through PRS by being a one-stop resource centre for

the public on retirement learning and PRS in Malaysia. These include the implementation of value-

added initiatives such as driving greater awareness through marketing programmes and collaboration

with stakeholders covering universities, media and government agencies to synergistically elevate and

encourage Malaysians to save more for the future with PRS. The PRS Online services developed by

PPA further allows the public and PRS Members to enrol and top-up their PRS contributions from the

computer and smart devices in an easy, convenient and secure way.

About PRS

The Private Retirement Schemes (PRS) is a voluntary long-term savings and investment scheme

designed to help Malaysians save more for their retirement. PRS seeks to enhance choices available

for all Malaysians whether employed or self-employed to supplement their retirement savings under

a well-structured and regulated environment. There are eight PRS Providers offering a choice of 57

retirement funds, from which individuals may choose to invest in based on their own retirement

needs, goals and risk appetite. The fund options under PRS are intended to enhance long-term returns

for members within a regulated framework. Malaysians have the option of saving in PRS through

multiple channels such as PRS Online, the PRS Providers and over 22,000 PRS Consultants.

PRIVATE PENSION ADMINITRATOR MALAYSIA

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Media contact:

Wong Mew Sum, Acting Head of Marketing & Communication | mewsum.wong@ppa.my

Ernest Chua, Assistant Manager, Marketing & Communication | ernteck.chua@ppa.my

Telephone: 03-7732 1520

___________________________________________________________________________

PPA’s CEO Husaini Hussin (right) presenting the Grand Prize to Lim Tzyy Wee.

Grand Prize recipient Lim Tzyy Wee (fifth from right), with PPA’s CEO Husaini Hussin (fourth from

right) and Wong Mew Sum, PPA’s Acting Head of Marketing and Communication (third from left)

“Go PRS, Get Treats” Grand Prize recipient Mr Lim Tzyy Wee

Mr. Lim Tzyy Wee, Grand Prize Recipient

Mr. Seh Soon Lee, Second Prize Recipient

Ms. Tee Chui Teng, Third Prize Recipient