SAVER‑Premium Fund
205B.—(1)  A fund called the Savings and Employee Retirement and Premium Fund (called in this Act the SAVER‑Premium Fund) is established, which must be held, managed and administered as a Government fund separate from other Government funds.
(2)  Except as otherwise provided by section 206(1), all payments and other benefits payable to servicemen under the SAVER Plan or the Premium Plan, and all expenses incurred in the administration of the SAVER Plan or the Premium Plan and the investment of moneys in the SAVER‑Premium Fund shall be charged on and paid out of the SAVER‑Premium Fund, and other moneys must not be withdrawn from the SAVER‑Premium Fund unless authorised to be withdrawn under this Act.
[43/2004]
(3)  There must be paid into the SAVER‑Premium Fund —
(a)such sums appropriated from time to time from the Consolidated Fund and authorised to be paid in the SAVER‑Premium Fund by any written law to enable the SAVER‑Premium Fund to meet its liabilities;
(b)all revenues of Singapore allocated by any written law to the SAVER‑Premium Fund; and
(c)the net income from investments of moneys in the SAVER‑Premium Fund authorised to be made by this Act or any other written law.
(4)  There must also be paid into the SAVER‑Premium Fund such sum from the Pension Fund established by the Pension Fund Act 1995 as the Minister for Finance may determine as the value of that part of the Pension Fund relating to all those servicemen exercising an option in favour of joining the SAVER Plan or the Premium Plan in accordance with the regulations made under section 205A.
(5)  The moneys referred to in subsection (3)(a) and (b) and subsection (4) must be paid into the SAVER‑Premium Fund as capital money, and must not be used to meet payments of dividends under the SAVER Plan or the Premium Plan.
(6)  The income from the investment of capital moneys of the SAVER‑Premium Fund must be paid into an account for the Fund to be called the SAVER‑Premium Income Account.
(7)  Except as otherwise expressly provided in this Act, the Financial Procedure Act 1966 and the regulations made under that Act apply to the SAVER‑Premium Fund.