- You can make full or partial withdrawals from any PRS funds under the following circumstances:
- Full withdrawal
− The day after you reach retirement age, currently at 55
− Following the death of a member (next of kin are eligible to apply for withdrawal)
− If you leave Malaysia permanently
- Pre-retirement withdrawals
− If you want to make a pre-retirement withdrawal, you can only withdraw the amount in sub-account B from each PRS provider once a year.
− Your first pre-retirement withdrawal request can only be made one year after you make your first contribution to any fund under the scheme (this includes contributions by your employer).
− You can make your pre-retirement withdrawal for any reason, however, you will have to bear an 8% tax penalty on the withdrawal amount before the balance is credited to your account.