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  4. A rewarding way to grow your retirement funds

Play the right cards for an ideal
retirement with your SRS funds.

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When it comes to retirement, building as large a nest egg as possible would be most ideal as we all start leading longer lives. Your SRS account is one such way to build up your retirement fund while allowing you to enjoy tax relief.

Prudential puts the right cards in your hands to help you grow and protect your retirement savings. Choose to grow your SRS funds with PRUActive Saver II or PRUGolden Retirement Premier to enjoy capital guarantee at maturity with potential returns of up to 4.43% p.a*.

Be proactive and play the right cards now to start building a bigger nest egg for your retirement.


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Try our SRS calculator and find out how much tax you can save, and the potential returns you can receive on investing your SRS funds with us.

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Terms and Conditions of SRS Promotion ("Promotion")

A. Promotion Details

  1. Definitions:
    1. “Prudential” means Prudential Assurance Company Singapore (Pte) Limited.
    2. “Promotion Period” means submission between 1 January 2021 and 31 March 2021 (both dates inclusive) and incepted between 8 October 2020 and 31 March 2021 (both dates inclusive).
    3. “Eligible Customer” means customers whose proposal for any Eligible Insurance Plan is submitted to and accepted by Prudential during the Promotion Period by satisfying the eligibility criteria below.
    4. “Eligible Insurance Plan” means any of the products meeting the criteria as stated in the Promotion Table below.
    5. “Voucher” means NTUC FairPrice e-gift card amounting to the amounts as stated in the Promotion Table below.
    6. “Promotion Table” means the table below.

      Promotion Table:

      Eligible Insurance Plan

      Minimum Single Premium1

      Single Premium Discount2

      Savings

       

       

      PRUActive Saver II Single Premium – SRS*

       

      15,000

      0.7%

      30,000

      1.0%

      60,000

      1.5%

      PRUGolden Retirement Premier – SRS*

      40,000

      1.0%

      80,000

      1.3%

      120,000

      1.5%

      *Receive additional S$50 NTUC FairPrice e-gift card if this is the first time you purchase an SRS policy with us.

      1 The Minimum Single Premium is defined as the total premium due for the basic policy and supplementary benefit(s).

      2 Discount will be applied on the premium for the basic policy and supplementary benefit(s). 

  2. Eligibility

    In order to be eligible for the Promotion, the Eligible Customer must satisfy the following requirements during the Promotion Period in order to receive the Discount (as defined in the Promotion Table);

    1. If the Eligible Customer’s proposal for any Eligible Insurance Plan is submitted to Prudential and incepted by Prudential during the Promotion Period.
    2. This Promotion is valid for all premium payment modes (monthly, quarterly, bi-annual and annual).


  3. Discount
    1. An Eligible Customer is entitled to receive a Discount in accordance with the Promotion table above.
    2. The Discount in this promotion shall be on a ‘per-policy’ basis (subject to the terms and conditions of this Promotion), there shall be no restrictions on the number of Eligible Insurance Plans an Eligible Customer can purchase.
    3. This Promotion is not applicable should the Eligible Insurance Plan be cancelled within the fourteen (14) day free-look period. The premium amount refunded will be based on the premium amount paid by the Eligible Customer.
    4. This Promotion is not applicable should the Eligible Insurance Plan be Not Taken Up and subsequently reopened.
    5. Customer who purchased PRUActive Saver II through Prudential Corporate Website between 8 October 2020 and 31 March 2021 (both dates inclusive) will enjoy the Discount on a refund basis. The discounted premium amount will be refunded by cheque or credit card.


  4. Discount Mechanism
    The Discount will be applied automatically upon policy submission and meeting the eligibility criteria above.

  5. Voucher
    Each Eligible Customer will be entitled to a maximum of one (1) Voucher per policyholder.

  6. Voucher Redemption
    Prudential will issue a SMS, Email or Mail (“Redemption Notification”) to each Eligible Customer provided that the Eligible Customer’s Eligible Insurance Plans purchased during the Promotion Period are in force as at the date of the Redemption Notification. Eligible Customers shall be solely responsible for ensuring that they provide Prudential with a valid phone number or email address for the purpose of redemption. The Eligible Customer agrees and accepts that Prudential will not be responsible for any consequences arising from his/her failure to provide Prudential with a true, complete and accurate phone number or email address and/or notify Prudential of any change(s) to his/her phone number and email address. Redemption of Voucher will commence three (3) months after the policy is incepted. Voucher must be redeemed within two (2) months from the date of Redemption Notification. If an Eligible Customer fails to claim his/her Voucher within the stipulated redemption period in the Redemption Notification, his/her Voucher will be forfeited, and the Eligible Customer shall not have any claim against Prudential for such forfeiture. Further details of the redemption procedures will be set out in the Redemption Notification.


B. General Terms and Conditions

  1. By participating in the Promotion, each Eligible Customer is deemed to have accepted and agreed to be bound by these terms and conditions contained herein and any other instructions, terms and conditions that Prudential may issue from time to time.

  2. Prudential assumes no responsibility for incomplete, lost, late, damaged, illegible or misdirected forms or email communication, for technical hardware or software failures of any kind, lost or unavailable network connections, or failed incomplete, garbled or delayed electronic transmission which may limit an Eligible Customer’s ability to participate in the Promotion.

  3. Prudential has the sole and absolute discretion to exclude any Eligible Customers from participating in the Promotion without any obligation to furnish notice and/or reason.

  4. Prudential reserves the right to disqualify or disregard any Eligible Customer who does not comply with the Terms and Conditions.

  5. Prudential may at its discretion forfeit the Vouchers, or, if already awarded, reclaim the Vouchers at the expense of the Eligible Customer without payment, compensation, or having to give any reason whatsoever in the event Prudential subsequently discovers that the Eligible Customer is not eligible to participate in the Promotion and/or to receive the Vouchers.

  6. Vouchers are subject to availability while stocks last. Prudential reserves the right to replace any Vouchers with items of similar value at any time without prior notice.

  7. Prudential shall not be liable for any loss of, damage to, defects, delay, mis-delivery or non-delivery of the Vouchers.

  8. Prudential reserves the right to deal with any unclaimed Vouchers in any manner it deems fit. Prudential reserves the right to request for the Eligible Customers’ proof of eligibility, identity and/or otherwise for the purposes of verifying the Eligible Customers’ claim to the Vouchers at the time of collection. Prudential is under no obligation whatsoever to disclose the identity of the Eligible Customers or to publish the same for any reason at any point of time.

  9. The Discount and/or Voucher is not exchangeable for cash, credit or any other items of equivalent value. The validity period of the Discount and/or Voucher is non-extendable. Prudential will be under no obligation to replace or pay to Eligible Customers the value of any Discount and/or Voucher that are not utilised by the Eligible Customers before the end of the validity period of the Voucher as may be stipulated by Prudential and/or relevant merchants.

  10. The Promotion is not valid in conjunction with other promotions carried out by Prudential.

  11. By participating in this Promotion, each Eligible Customer agrees and consents under the Personal Data Protection Act (Cap 26 of 2012) to the collection, use and disclosure of any and all personal data of the Eligible Customer by/to Prudential, advertising and promotional agencies of the Promotion, appointed vendor who manages the fulfillment and redemption of Vouchers, and such other third party, in Prudential’s absolute discretion, consider appropriate or necessary in connection with the Promotion and redemption of Vouchers.

  12. If an Eligible Customer provides Prudential with personal data of any third party, that Eligible Customer hereby:

    1. Agrees on behalf of that third party to be bound by the Terms and Conditions contained herein; and
    2. Consents on behalf of that third party, to Prudential’s collection, use, disclosure and processing of his/her personal data in accordance with the Terms and Conditions contained herein.

    The Eligible Customer warrants that he/she has obtained the said third party’s prior consent to such collection, use, disclosure and processing of his/her personal data by Prudential and that the personal data that the Eligible Customer provides to Prudential is true, accurate and complete.

  13. Prudential shall not be liable for any third party’s misuse of the Eligible Customer ‘s submitted information and photograph as a result of the Eligible Customer taking part in the Promotion.

  14. Unless prohibited by law, participation in the Promotion constitutes permission for Prudential, its advertising and promotional agencies to use any of the Eligible Customers’ names, and/or likeness for advertising and promotional purposes. Each Eligible Customer further agrees and acknowledges that the copyright and all other intellectual property rights in and to all photographs or audio-video or other recordings of the Eligible Customer taken or made in connection with the Promotion and shall vest solely and absolutely in Prudential without any compensation to the Eligible Customer.

  15. Prudential may at any time at its absolute discretion, without prior notice or assigning any reason thereof or being liable to any person, (i) suspend, cancel or terminate the Promotion, or (ii) delete, vary, supplement, amend, modify any one or more of the terms and conditions of the Promotion. Prudential’s determination of all matters in connection with the Promotion and the Vouchers shall be final, binding and conclusive. Prudential is not obliged to give any reason or prior notice on any matter concerning the Promotion or the Vouchers. No appeal, correspondence or claims will be entertained. Prudential has the right and discretion to determine whether a party has met the requirements of the Promotion and/or to receive the Vouchers. Eligible Customers shall not be entitled to any damages or compensation whatsoever or howsoever arising as a result of such amendment, suspension or termination.

  16. By participating in the Promotion, all Eligible Customers agree and undertake to, at all times, indemnify, keep indemnified, and hold Prudential, its employees and agents harmless against all losses (including direct, indirect, incidental and/or consequential losses), damages (including general, special, and/or punitive damages), demands, injuries (other than personal injury caused by Prudential’s negligence), claims, costs, penalties, interest and fees (including all legal fees as between solicitor and client or otherwise on a full indemnity basis whether or not incurred in respect of any real, anticipated, or threatened legal proceedings), howsoever caused by, arising or resulting from, whether directly or indirectly, their participation in the Promotion, acceptance or usage of any Vouchers, and/or any breach or purported breach of these Terms and Conditions and/or any applicable law.

  17. Prudential makes no warranty or representation as to the quality, merchantability or fitness for purpose of the merchants’ goods and services in respect of the Vouchers. Any dispute about the same must be resolved directly with the merchant. Merchant terms and conditions apply.

  18. In the event of any inconsistency or discrepancy between the Terms and Conditions and the contents of any brochure, marketing and/or promotional materials relating to the Promotion, these Terms and Conditions shall prevail.

  19. Any trademarks, graphic symbols, logos or intellectual property contained in any materials used in connection with this Promotion, in particular the Vouchers, are the property of their respective owners. Prudential is not affiliated with, or endorsed or sponsored by, such owners and their relevant affiliates.

  20. Failure by Prudential to exercise any of its right or remedy under these Terms and Conditions does not constitute a waiver of that right or remedy.

  21. The Terms and Conditions shall be governed by Singapore law and the Eligible Customers agree to submit to the exclusive jurisdiction of the courts of Singapore.

  22. A person who is not a party to any agreement governed by these terms and conditions shall have no right under the Contracts (Right of Third Parties) Act (Cap 53B) to enforce any of these terms and conditions.
Footnotes

^Discount and rewards is applicable to cases submitted and incepted from 1 January 2021 to 31 March 2021. Other terms and conditions apply.

*Based on illustrated rate of return of 4.75% in a PRUActive Saver II with a 30-year policy term and one-time investment of $50k. Based on IRR of 3.25%, the potential yield at maturity is 3.01% p.a.

1The Minimum Single Premium is defined as a single up-front premium payment to fully pay for the basic policy and supplementary benefit(s).

2Discount is applicable on Total Single Premium paid and will be applied on the premium for the basic policy and supplementary benefit(s).

Additional Notes

You are recommended to read the product summary and seek advice from a qualified Prudential Financial Consultant for a financial analysis before purchasing a policy suitable to meet your needs.

 

As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.

 

As some of the products have no savings or investment feature, there is no cash value if the policy ends or if the policy is terminated prematurely.

 

Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs. Premiums for some of the products are not guaranteed and may be adjusted based on future claims experience.

 

The information contained on this website is for reference only and is not a contract of insurance. Please refer to the exact terms and conditions, specific details and exclusions applicable to these insurance products in the policy documents that can be obtained from your Prudential Financial Consultant.  

The information contained on this website is intended to be valid in Singapore only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Singapore.

 

These policies are protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).

 

Information is correct as at 4 January 2021.

 

This advertisement has not been reviewed by the Monetary Authority of Singapore.

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