SAVER and Premium Plans
205A.—(1)  The Armed Forces Council may also make regulations for the establishment of 2 savings and employee retirement plans (called in this Act the SAVER Plan and the Premium Plan, respectively) for the payment of —
(a)any gratuity, allowance, superannuation or other like benefit to such servicemen or classes of servicemen as may be prescribed, or to their legal personal representatives or dependants, on the death or the retirement or resignation from the Singapore Armed Forces of such servicemen;
(b)any pension, allowance, gratuity, compensation or other benefit in respect of the death of or injuries received by any such servicemen in and which are attributable to service;
(c)any subsidy, rebate or other benefit in respect of medical services rendered to such servicemen;
(d)any allowance, subsidy or other benefit to such former servicemen after their retirement from the Singapore Armed Forces; and
(e)any loan or other benefit to such servicemen or classes of servicemen as may be prescribed.
(2)  The following provisions apply to the SAVER Plan and the Premium Plan established under this section:
(a)no payments, allowance or other benefit payable under the SAVER Plan or the Premium Plan (whether on death, retirement or resignation of a serviceman or otherwise), and no contribution by the Government made under the SAVER Plan or the Premium Plan and no interest thereon is assignable or transferable, or liable to be garnished, attached, sequestered or levied upon for or in respect of any debt or claim, other than —
(i)a debt due to the Government; or
(ii)an order of court for the payment of periodical sums of money towards the maintenance of the wife or former wife or minor child (whether legitimate or not) of the serviceman to whom the payment, allowance or other benefit has been granted;
(b)no contribution by the Government made under the SAVER Plan or the Premium Plan and no interest thereon shall be subject to the debts of a serviceman, nor shall such contributions and interest pass to the Official Assignee on the bankruptcy of the serviceman, but if the serviceman is adjudicated a bankrupt or is declared insolvent by a court of law, such contribution and interest are deemed excluded from the property of the bankrupt for the purposes of the Insolvency, Restructuring and Dissolution Act 2018; and
(c)subject to the provisions of any regulations made under this section, all moneys paid or payable under the SAVER Plan or the Premium Plan on the death of a serviceman are deemed to be subject to a trust in favour of the persons entitled thereto under the will or intestacy of the deceased serviceman and are not to be deemed to form part of his or her estate or be subject to the payment of his or her debts but are deemed to be property passing on his or her death for the purposes of the Estate Duty Act 1929.
[40/2018]
(3)  The Armed Forces Council must, in making any regulations under this section, provide —
(a)for officers who, immediately before 1 January 1998, are eligible for any pension, gratuity or other allowance under any regulations made under section 205 to opt to join the SAVER Plan and for the terms and conditions of that option;
(b)for soldiers who, immediately before 1 January 2000, are eligible for any pension, gratuity or other allowance under any regulations made under section 205 to opt to join the Premium Plan and for the terms and conditions of that option; and
(c)that any such officer who opts to join the SAVER Plan or any such soldier who opts to join the Premium Plan, remains eligible to benefits not less in value than the amount of any pension, gratuity or other allowance for which he or she would have been granted under the regulations made under section 205 if he or she retired or ceased contract service on medical grounds not due to causes within his or her control on the date immediately prior to his or her joining the SAVER Plan or the Premium Plan, as the case may be.
(4)  Any option exercised by any officer before 1 April 1998 to join or not to join the SAVER Plan and any option exercised by any soldier before 31 March 2000 to join or not to join the Premium Plan, is deemed to be exercised in accordance with the regulations made under subsection (3).