Private Retirement Scheme Consultant (PRC)

 

Become a Private Retirement Scheme (PRS) Consultant

If you’re already a licensed Unit Trust Consultant (UTC) in Malaysia, there’s an exciting opportunity to expand your financial advisory services and make a greater impact: become a PRS Consultant.

The Private Retirement Scheme (PRS) was introduced to help Malaysians secure better financial outcomes during retirement. With rising life expectancies, healthcare costs, and living expenses, more individuals—especially those in Generation X—are finding it challenging to save enough for a comfortable retirement. This is where PRS Consultants come in.

What Is the Private Retirement Scheme (PRS)?

Launched in April 2012 by the Securities Commission Malaysia (SC), PRS is a voluntary long-term investment scheme designed to help individuals supplement their retirement savings.

It complements the mandatory Employees Provident Fund (EPF) and serves as an additional savings avenue for:

  • ✅ Business owner looking to top up additional contributions
  • ✅ Self-employed individuals without EPF
  • ✅ Young professionals planning for early retirement
  • ✅ Anyone wanting more control over retirement savings

Why Become a PRS Consultant?

As a PRS Consultant, you’ll be able to guide Malaysians on how to plan and invest for retirement effectively. The benefits include:

  • 📈 Broaden your product offerings
  • 👥 Reach new markets like freelancers and gig workers
  • 💼 Deepen client relationships through retirement planning
  • 🎓 Establish yourself as a full-spectrum financial advisor

Eligibility to Apply

You can become a PRS Consultant if you meet one of the following requirements:

1. Experienced Unit Trust Consultants

UTCs with 3+ years of experience may attend the PRS’s Familiarisation Programme by PRS Provider and apply directly without going through the FIMM FCE Examination. However, the PRS’s Familiarisation Programme will end by the end of 2025, any extension subject to FIMM future approval.

2. Professional Qualification Holders

Applicants with any of the following certifications are eligible:

  • ✔️ CFP (Certified Financial Planner)
  • ✔️ IFP (Islamic Financial Planner)
  • ✔️ ChFC (Chartered Financial Consultant)
  • ✔️ RFP (Registered Financial Planner)

3. PRS Examination Route

Those who do not meet the above criteria can still qualify by passing the FIMM FCE Examination.

Why PRS Matters Now

With longer life spans and higher living costs, traditional retirement savings like EPF alone may not be enough. PRS helps address:

  • 🔹 Longevity risk
  • 🔹 Rising healthcare expenses
  • 🔹 Lifestyle goals post-retirement
  • 🔹 Greater financial independence

Start Your PRS Journey Today

Whether you’re already an experienced UTC or just entering the financial industry, becoming a PRS Consultant lets you help others while advancing your career.

Take control of your future and make a difference in the lives of others.

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