PRS Investment FPX Problem
CYBERJAYA, 5 Jan 2022 – Investors keen on investing on Private Retirement Scheme (PRS) found themselves unable to proceed with their investment. The PRS Investment is not working due to FPX system problem.
FPX is a payment process system based in Malaysia and operated by Payments Network Malaysia. Participating banks consist of most banks operating in Malaysia.
Private Retirement Scheme (PRS) is an alternative retirement fund under Malaysian government initiative. It is currently operated by Private Pension Administrator.
Benefits of PRS include online account system for initial investment and top-up. Apart from that, investors are also able to control how much money they want to put in the fund.
The withdrawal options are fairly limited. Contributors have more options to withdraw from EPF compared to PRS.
An announcement was posted on PPA website mentioning that myPPA application will be temporarily unavailable. No fixed date has been assigned by PPA on the portal’s resumption of service.
However, clicks on the Online Enrollment form is still showing signup process. Looks fine, except when you want to make the payment for your first investment.
Hence, users are advised to hold their PRS registration until it is fixed.
For more information, you can check out PPA website.