Versa is a one-stop app that provides a smart and simple way to grow your wealth through competitive returns, with Shariah-compliant funds available, and also gives you plenty of bonuses and benefits.
by Akmal Hakim
December 20, 2023
(Credit: jcomp via Freepik)
Let’s face it. You are getting old. With each passing year, your skin gets a lil’ wrinklier, your hair gets a lil’ greyer and you edge a lil’ closer to retirement.
But are you ready for it?
Have you saved enough money to enjoy your golden years without worry? Or are you doomed to spend the rest of your life slaving away to make ends meet?
If you’re thinking that: Hey, no worries la, my EPF got me covered already—Well think again!
Based on the latest estimates, Malaysians who wanna’ retire in the next 20 to 30 years would need a bare minimum of RM600,000 stashed up in savings just to survive.
If you plan on living the goyang kaki life and comfortably retire like a regular T20 Datuk or Datin, then that number goes up to between RM900,000 to RM1 million.
Factor in things like inflation, expensive healthcare and the fact that 81% of EPF contributors won’t have enough savings to live above the poverty line (RM2,589 a month) during retirement, and we may have a national crisis on our hands.
But now is not the time to panic!
It’s the time to plan! There’s still plenty of time to build your savings and get a lil’ closer to your dream retirement when you invest in a Private Retirement Scheme (PRS) via Versa.
While your EPF is a mandatory pension fund that’s deducted from your salary, PRS is a voluntary long-term savings and investment scheme that lets you rack up more funds for your future retirement.
It’s like a bonus to your EPF because you can choose from different investment options and mix things up to get more bang for your buck as well as save some extra cash for your well-earned break from the daily grind.
Versa is a one-stop app that provides a smart and simple way to grow your wealth through competitive returns (with Shariah-compliant funds available) and gives you plenty of bonuses and benefits.
With Versa you can manage your PRS investments and other savings and ventures with just a few taps on your phone.
What do you get in return?
Well besides getting your finances ready for the future, investing in PRS also hooks you up with a sweet tax break from the government. You can enjoy up to RM3,000 in income tax relief every year when you put money into PRS.
Depending on your tax bracket and how much you earn, this could mean keeping up to RM900 more in your pocket. That’s like getting a free 30% boost on your investment, instantly!
Let’s do the math!
Say you and your friend both make RM100,000 a year and have the same amount of tax deductibles totalling RM20,000 (EPF, lifestyle, life insurance, healthcare, etc.). So, you both have RM80,000 left to pay taxes on.
But here’s the twist: You put RM3,000 into your PRS via Versa and get a tax break. So, your taxable income went down to just RM77,000.
That means that you only paid RM5,030 in taxes while your buddy paid RM5,600. You just saved RM570 in taxes by investing in PRS. Nice kan?!
But wait, there’s more!
If you choose to invest in PRS via Versa you’ll get to enjoy RM110 worth of Versa Cash, absolutely FREE. With Versa Cash’s 4% p.a. net returns, your money can grow even more for you!
Versa makes it super easy for you to invest in PRS and di-Versa-fy your retirement income. It’s completely FREE to sign up, so download the Versa app today and get started on investing for your tomorrow.
This offer only lasts until 28 December 2023 and there will be terms and conditions, so you better hurry! Click here for more details.
TRP treat!
As a special treat to all you TRP troopers out there, you’ll get a chance to receive RM100 worth of Shopee vouchers when you invest a minimum of RM3,000 in PRS via Versa between now and 28 December.
Just punch in the promo code: VRAKYATPOST when you make your transaction on the Versa app and you’re set to receive your prize within 30 business days after the promo period ends.
This special TRP treat is limited to the first 100 users who sign up for PRS via Versa using the promo code. So don’t miss this opportunity to be rewarded for planning your dream retirement.
*T&C and PDPA rules apply: By applying the code, you acknowledge and consent to the sharing of your personal details for the purpose of receiving the RM100 Shopee voucher with The Rakyat Post.