Two-Fold Increase in New Members using PPA’s PRS Online Service to Save for Retirement
Prize recipients of PPA’s online enrolment treats contest cite unpredictable year and online option among factors in their decision to start saving for their future
Petaling Jaya (29 Jan 2021): In a sign of the times we live in, where e-commerce traffic, streaming services usage and cloud storage demand have surged in the past year, so too are more people turning to online avenues to save for their retirement. In 2020, twice as many new members year-on-year enroled for a Private Retirement Schemes (PRS) account using the PRS Online service developed by Private Pension Administrator Malaysia (PPA) – the central administrator for PRS.
“Whether it is via PPA’s PRS Online or through one of our eight PRS Providers, it is wonderful to see more Malaysians choosing to include PRS in their retirement savings portfolio,” said Husaini Hussin, CEO of PPA. “Last year’s ‘Jom PRS, Get Treats’ online enrolment contest was designed to give Malaysians an additional reason to save, and so this higher adoption of financial technology, or fintech, is a welcome trend.”