A colleague mentions, almost in passing, that tax season is coming up and he still has not “used up” his RM3,000 PRS relief. Someone else in the WhatsApp group chimes in: “Confirm put lah, free money what, tax relief some more.” By the end of the conversation, three people have transferred RM3,000 each into a
It is October, and your HR department has just sent the annual reminder: “Contribute to PRS before year-end to enjoy tax relief.” A colleague forwards you a screenshot from a Facebook finance group with the caption “close eyes and contribute, confirm untung.” You open your banking app, transfer RM3,000 into a Private Retirement Scheme fund
You open your i-Akaun app and notice the balance sitting in Account 3. Your colleague just withdrew from his to repair his car. Your sister used hers to settle a credit card balance. And now you are wondering – should you take yours out too? After all, the money is there, it is legally yours,