Pioneer Generation Fund (Amendment) Bill

Bill No. 5/2016

Read the first time on 26th January 2016.
An Act to amend the Pioneer Generation Fund Act 2014 (Act 43 of 2014).
Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows:
Short title and commencement
1.  This Act is the Pioneer Generation Fund (Amendment) Act 2016 and comes into operation on a date that the Minister appoints by notification in the Gazette.
Repeal and re-enactment of section 3
2.  Section 3 of the Pioneer Generation Fund Act 2014 is repealed and the following section substituted therefor:
Purpose of Act
3.  The purpose of this Act is to recognise and honour the participation and sacrifice of Singapore’s Pioneers in the early stages of Singapore’s development by providing to such Pioneers in their elder years assistance in the form of financial benefits or other support to meet their healthcare costs and other costs of living in Singapore.”.
Amendment of section 27
3.  Section 27 of the Pioneer Generation Fund Act 2014 is amended by inserting, immediately after subsection (2), the following subsection:
(2A)  However, the means of a Pioneer are irrelevant when prescribing in regulations —
(a)any cash grant to Pioneers referred to in section 16(1)(a) or (b);
(b)the maximum proportion or maximum amount for any subsidy referred to in section 16(1)(c) or (d); or
(c)any reimbursement grant referred to in section 16(2).”.