2. Regulation 2 of the Central Provident Fund (Topping Up of Medisave Account) Regulations (Rg 30) (referred to in these Regulations as the principal Regulations) is amended —| (a) | by deleting the definition of “Minimum Sum Regulations” and substituting the following definitions:“ “applicable percentage” means —| (a) | in relation to a person who attains the age of 55 years on or after 1st July 1995 but before 1st January 2009, 50%; | | (b) | in relation to a person who attains the age of 55 years on or after 1st January 2009 but before 1st January 2010, 60%; | | (c) | in relation to a person who attains the age of 55 years on or after 1st January 2010 but before 1st January 2011, 70%; | | (d) | in relation to a person who attains the age of 55 years on or after 1st January 2011 but before 1st January 2012, 80%; | | (e) | in relation to a person who attains the age of 55 years on or after 1st January 2012 but before 1st January 2013, 90%; or | | (f) | in relation to a person who attains the age of 55 years on or after 1st January 2013, 100%; |
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“initial amount” means —| (a) | in relation to a person who makes a withdrawal under section 15(2)(a), (3) or (4)(a) of the Act, the total amount of moneys standing to his credit in his ordinary account and special account —| (i) | immediately before the time of withdrawal; and | | (ii) | for the avoidance of doubt, after he has complied with such of section 15(2A)(a), (6)(a), (7B)(a) or (8A)(a) of the Act, regulation 6(1)(b) of the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2) or regulation 6(1)(b) of the Central Provident Fund (New Minimum Sum Scheme) Regulations (Rg 31) as may be applicable to him; or |
| | (b) | in relation to a person who makes a withdrawal under section 15(4)(b) of the Act, the excess, if any, of —| (i) | the amount paid, repaid or refunded into his account in the Fund pursuant to a charge created or constituted under section 15(9), (9A), (11D) or (11E), 21, 21A, 21B, 27C(1)(v), 27D(1)(v)(B), 27DA(1)(v), 27E(1)(iv) or 27F(1)(iv) of the Act or a pledge given under section 15(10) or (10A) or 27D(1)(v)(A) of the Act; over | | (ii) | the amount, if any, transferred to his retirement account under regulation 5A of the Central Provident Fund (Revised Minimum Sum Scheme) Regulations or regulation 5B of the Central Provident Fund (New Minimum Sum Scheme) Regulations; |
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“minimum sum” means —| (a) | in relation to any member to whom the Central Provident Fund (Revised Minimum Sum Scheme) Regulations applies, the minimum sum applicable to him under regulation 4 of those Regulations; or | | (b) | in relation to any member to whom the Central Provident Fund (New Minimum Sum Scheme) Regulations applies, the minimum sum applicable to him under regulation 4 of those Regulations;”; |
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| | (b) | by deleting “$9,600” in paragraph (a) of the definition of “relevant amount” and substituting “$11,550”; | | (c) | by deleting “$9,600” in paragraph (b) of the definition of “relevant amount” and substituting “$11,550”; and | | (d) | by deleting “$32,000” in paragraph (c) of the definition of “relevant amount” and substituting “$38,500”. |
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