PRS offers contributors the choice and flexibility to switch their fund if they underperform expectations and/or even transfer their funds to another Provider. This will ensure that the contributor’s retirement and investment objectives are aligned, not mismatched and ultimately realised.
Switching occurs when a Member requests for a transfer of the existing PRS fund invested in to another PRS fund in the PRS scheme of the same PRS Provider.
Transfer occurs when a Member requests for a transfer of the existing PRS fund invested in to another PRS fund in the PRS scheme of another PRS Provider.
PRS Members are allowed to switch between funds in the scheme or transfer the accrued benefits to another PRS fund of another PRS Provider, subject to the terms and conditions as specified in the scheme’s disclosure document. Please read the scheme’s disclosure document before deciding to make a contribution. If you do not have a copy, please contact the PRS Provider to ask for one.
Transfers can only be instructed between Providers after the first year of subscription to the PRS from the date of first contribution.