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Sunday, 26 September 2010

ETP - Private Pensions

ETP proposes to develop Private Pension Funds (PPFs) through: 

  1. Employers' contributions exceeding 12% to channel to PPFs 
  2. Allow EPF members to move part of savings to PPFs 
  3. EPF members with >RM 1 mil in EPF will enjoy a lower return 
  4. PPFs allowed to manage EPF fund 
  5. Self-employed enjoys same tax relief if contribute to PPFs 
  6. Pension income from PPF is tax exempt 
  7. Additional RM6000 tax relief for PPF contributions.

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