CIMB-Principal Asset Management Bhd recently honoured its top Corporate Private Retirement Scheme (PRS) partners, including Celcom Axiata Berhad, S.L.NG & Associates, IJM Corporation Berhad and Cuckoo International (MAL) Sdn Bhd, for their efforts in providing the best investment retirement solutions for their employees, in conjunction with the company’s third annual corporate PRS conference.
This was the first year of the PRS conference in which CIMB-Principal started recognising corporate employers who had gone the extra mile to provide their employees with the opportunity to save for their pension by investing in CIMB-Principal’s PRS funds approved by the Securities Commission Malaysia.
The event was attended by Effendy Shahul Hamid, CEO, Group Asset Management and Investments, CIMB Group and Renee Schaaf, Senior Vice President and Chief Operating Officer, Principal International, who were joined by 100 corporate clients including senior representatives of the top corporate PRS winners.
Munirah Khairuddin, Chief Executive Officer of CIMB-Principal commented, “We are honoured to have this opportunity to recognise corporates who have been proactive in facilitating their employees’ contribution to the Private Retirement Scheme.”
“Retirement planning is a crucial aspect of one’s financial independence and corporates that help their employees build a comfortable nest egg prove their commitment towards their employees’ well-being even beyond their working years. This supports talent retention and employee loyalty, a major part of the ‘engine’ behind every successful, sustainable business.”
A total of 16 awards were given out to the top corporate PRS employers under the categories of ‘large & medium corporations’ and ‘SMEs’. The accolades were awarded based on a set of specific criteria including size of retirement assets accumulated, number of employees enrolled as well as employers’ contribution to the retirement assets.
The PRS industry is still at its infancy but had shown encouraging growth over the past five years. It has over 260,000 active members who have collectively saved and invested approximately RM1.8 billion via PRS for their retirement.
