SC: Planners should give sound financial advice

“Portability between different PRS Providers is permitted once a year," SC chairman Awang Adek said.

KUALA LUMPUR: The Securities Commission (SC) is considering full tax exemptions on small amounts of withdrawal from private retirement schemes (PRS) for emergency purposes and improving the process for members to transfer across various funds and providers.

“If a member’s chosen fund or default fund does not provide a commensurate return over a certain period, they can switch to a different fund or provider.