Central Provident Fund (Lifelong Income Scheme) (Amendment No. 2) Regulations 2022

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Published in Subsidiary Legislation Supplement
on 29 Jun 2022

No. S 517

Central Provident Fund Act 1953

Central Provident Fund
(Lifelong Income Scheme)
(Amendment No. 2) Regulations 2022

In exercise of the powers conferred by section 27Q of the Central Provident Fund Act 1953, the Minister for Manpower makes the following Regulations:

Citation and commencement

1. These Regulations are the Central Provident Fund (Lifelong Income Scheme) (Amendment No. 2) Regulations 2022 and come into operation on 1 July 2022.

Replacement of regulation 5A

2. Regulation 5A of the Central Provident Fund (Lifelong Income Scheme) Regulations 2009 (G.N. No. S 393/2009) is replaced with —

“Assessment date for section 27K(2)(b) of Act

5A. For the purposes of section 27K(2)(b) of the Act, the assessment date applicable to a member who has attained 55 years of age on or after 1 January 2013 is —

(a)	the date on which the Board transfers to the member’s retirement account, under regulation 5A(1) or (1A) of the Central Provident Fund (New Retirement Sum Scheme) Regulations (Rg 31), the amount prescribed in paragraph (2) of that regulation; or
(b)	where the Board does not effect the transfer mentioned in paragraph (a) because the amount to be transferred (determined in accordance with regulation 5A(2) of the Central Provident Fund (New Retirement Sum Scheme) Regulations) is nil — the date on which the Board makes that determination.”.

[G.N. Nos. S 816/2010; S 43/2012; S 542/2012; S 688/2012; S 476/2013; S 32/2015; S 235/2015; S 788/2015; S 188/2016; S 726/2016; S 164/2017; S 583/2017; S 722/2017; S 594/2018; S 559/2021; S 850/2021; S 127/2022]

Made on 22 June 2022.

NG CHEE KHERN

Permanent Secretary,
Ministry of Manpower,
Singapore.

[Plg&Pol/CPFPol/Legis/CPFSL/2022; AG/LEGIS/SL/36/2020/26 Vol. 1]

(To be presented to Parliament under section 78(2) of the Central Provident Fund Act 1953).

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