Page 32 - SC Annual Report 2018 (ENG)

Securities
Commission
Malaysia
ANNUAL
REPORT
2018

Diagram 3
enhancements to the
Key PRS milestones
prs Youth incentive
Government will match
RM1,000 accumulated
kick off the 5-year prs savings in the youth’s
Youth incentive account with a RM1,000
Youth aged 20-30 years will be government co-contribution. launch of prs online top up Non-core
given a RM500 one-off incentive 2014 platform
by the government with a The first phase of the digital solution 38%
minimum contribution 2016 journey saw an online top-up platform
of RM1,000 in any PRS fund. for current members. Operated by
PPA, the platform provides access to
PRS funds of all eight PRS providers.

2018
the end of the journey for prs introduce mobile application Core:
Youth initiative and online enrolment Conservative
At the end of the 5 years, the objective of getting The development of the enrolment
more youth to save for their retirement was module marks the second phase of 7%
met, with RM104.05 million disbursed by the the digital solution with the aim of
government. attracting new members to save for
their retirement via PRS. A PRS mobile
application was also introduced to
provide members with easy accessibility
to their PRS accounts.

Diagram 4 Diagram 5
PRS members by age group PRS members by gender
<30yrs 30-39yrs 40-49yrs

49%

33% 29% 18%

51%
50-54yrs 55-60yrs >60yrs

6% 7%
7%

22 | PART 1 »» ENABLING SHARED VALUE GROWTH

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