1. Why do I need to make a nomination?
You are encouraged to make a nomination to facilitate and expedite the withdrawal of your PRS balance by the nominated person(s) in the event of your death. It also provides a sense of certainty to members that their PRS balance will be administered by the person(s) of their choice. If you opt not to make any nomination, your balance will be distributed in accordance with Islamic Laws. This process however, may take longer.
2. When can I make a nomination?
You can make a nomination at any time after a PRS account has been opened by completing the PPA Nomination Form
3. Where can I obtain the PPA Nomination Form?
You can download the PPA Nomination Form here or obtain the form from any PRS Providers or PRS Consultant.
4. Am I eligible to make a nomination?
Only members who are:
- A Malaysian citizen; OR
- A non-Malaysian citizen who has obtained a Permanent Resident (PR) status in Malaysia is eligible to make a nomination.
5. Who can be named as a nominee/administrator?
You can nominate any ‘natural person’ as a nominee/administrator. ‘Natural person’ refers to individuals and does not refer to organisations, associations, societies, welfare bodies and others.
You are advised to nominate your next-of-kin such as your spouse or child/children and parents to administer your PRS balance. However, the nomination can still be accepted if you name those other than your next-of-kin.
You may nominate your child/children who is/are a minor as your administrator(s). However, a minor may only administer if he/she has reached 18 years of age. If you pass away before the minor reaches 18 years old, the nomination is treated as revoked as the minor can’t act legally as an administrator. Instead your PRS balance shall be paid to a lawful administrator of your estate.
6. Is there a limit to the number of nominees I can appoint?
You may nominate one (1) individual or several individuals subject to not more than six (6) individuals.
7. Is there a limit to the number of times that I can make my nomination?
No, there is no limit to the number of times which you can make a nomination.
However, please be informed that any new nomination form submitted to PPA or the PRS Provider will be treated as the latest nomination and will supersede previous nomination(s) made.
8. How do I make a nomination?
You are required to meet your PRS Consultant/ PRS Provider/ PPA in person to submit the following documents which must be complete and in order:
- PPA Nomination Form; and
- A copy front and back of Identification Card (MyKad/Police Identification Card / Military Identification Card / Permanent Resident Identification Card (MyPR)) of the member.
The PRS Consultant/ PRS Provider is required to sight your identification card and verify your identity. The relevant PRS Provider would then extend the forms to the PPA. Alternatively, you may submit the form directly to PPA.
9. Do I need a witness when making a nomination?
Yes, a witness is required. You can choose anyone who is 18 years old and above and of sound mind to be a witness to your nomination EXCEPT the following persons:
- the persons selected as nominee;
- the spouse of the nominee;
- an employee of the PPA; or
- an employee/consultant of the PRS Provider.
The witness is not required to be present in person when you submit the nomination form to PPA or the PRS Provider.
10. When will my nomination be effective?
Your nomination will become effective when a completed and witnessed nomination form is received by a PRS Provider/ PPA.
NOTE: Processing time will be dependent on the completeness of the form and supporting documentation.
11. How do I make changes to my PRS nomination?
You can complete a new PPA Nomination Form. Your new nomination will supersede the earlier nomination which you have made.
12. I have more than one PRS account as I have investments with multiple PRS Providers. Can I fill different nomination forms to provide different nominees for the respective PRS account?
No, only ONE (1) PPA Nomination Form will apply to all PRS accounts.
13. How can I check my nomination?
Your nomination details will be available upon logging onto PRS Members’ Portal via PPA’s website (www.ppa.my). You will also receive a confirmation from PPA that a nomination has been made inclusive of your nomination details via your email.
14. How can I revoke my nomination?
You may complete and submit a Revocation of Nomination Form to your PRS Provider/Consultant/PPA if you wish to revoke your previous nominations made and do not wish to nominate any other persons to receive your PRS balance upon your death.
For your information, there are other circumstances as set out below which would also revoke nominations previously made by members. These circumstances are:
- Upon the death of all of nominee(s) stated in the PPA Nomination Form during the lifetime of the member;
- When member submits a new PPA Nomination Form;
- Where a nominee fails to submit the withdrawal form within one (1) year from the death of the Muslim member (The one (1) year deadline is to ensure the nominee(s) take(s) action as soon as possible to expedite the distribution of the PRS balance); and
- Where the nominee is legally incapable to act as an administrator (e.g. under the age of 18 or is certified as having permanent total disability or mental disability)
NOTE: A Nomination shall not be revoked by any Will.
15. Do I have to update my nomination when there are changes to my circumstances (e.g. marriage, child birth, death of my nominee)?
If your circumstances have changed (e.g. marriage, birth, death of a nominee), you are encouraged to update your nomination to keep it relevant with your current circumstances. If you do not update your nomination, the persons stated on the PPA Nomination Form will receive the balance in the PRS account.
Example: Your current nomination form lists down your father and mother as your nominees. You have just gotten married and would like to include your spouse as the nominee in addition to your parents. You will need to obtain a new nomination form and fill up the details of your parents and your spouse.
16. What happens when a nominee predeceases (dies before) me?
If a nominee dies before you, this will not affect distribution to the other nominees. Other nominees can carry on the obligation to claim as an administrator.
However the portion allocated to the deceased nominee shall be paid to a lawful administrator of the member’s estate.
17. What if the nominee who is supposed to act as the administrator, does not distribute the PRS balance according to the Islamic Law?
This is beyond the jurisdiction of PPA or the PRS Providers as their duties is limited to the disbursement of the PRS balance in accordance to the PPA Nomination Form. The PPA Nomination Form will highlight the duty of the nominee to act as the administrator to distribute the PRS balance in accordance to Islamic Law.
18. What happens when a nominee dies after the death of a member, and did not make any claim on the PRS balance?
If the nominee dies after the member’s death but before he makes any claim for withdrawal, the PRS balance shall revert to the member’s estate.
19. Can anyone know the person I have nominated?
No. Your nomination is confidential. However, there are proper procedures for the next of kin or administrator to check on the nomination status once the member has passed away.