1. Hariz had been working in the government sector for more than a year now. As a government staff, he is given the option to choose between EPF and pension scheme. Hariz is now aged 30 years old, and planning to retire at the age of 55. At present, his salary is RM5,000 per month which will grow at a rate of 5% per annum. Under the existing government regulation, all employers are required to contribute 12% of the employees annual wages to the fund. Based on the information given and Merdeka sukuk return of 5%, as a financial planner, you are required to help Hariz make the decision whether to choose EPF or pension scheme for his expected 25 years in retirement

2.0 Explain the benefits of Private Retirement Scheme (PRS).