To qualify for the incentive, the individual must have accumulated a minimum gross contribution amount of RM1,000 in a single PRS Fund. In order to qualify, individuals may wish to consider doing a Switching of PRS Funds within the same PRS Provider to consolidate the various funds into a single PRS Fund. When consolidating, individuals are to ensure that the consolidated amount meets the minimum gross contribution amount of RM1,000.
The gross minimum contribution amount achieved by way of a Transfer will be excluded from the incentive.
See FAQ under TRANSFER
PRS Fund Selection Based on PRS Fund Which First Reaches RM1,000 (“First Past The Post” Rule)
PPA will select the fund which first reaches the RM1,000 contribution within a period of 2017-2018. If there are multiple funds and the RM1,000 threshold occurs on the same date, the incentive would be divided equally between the various funds of a single or multiple Provider.