Central Provident Fund Regulations

Status:

Revised Edition
published on 01 Jan 1998

Central Provident Fund Act

(Chapter 36, Section 77)

Central Provident Fund Regulations

Rg 15

G.N. No. S 313/1987

REVISED EDITION 1998

(1st January 1998)

[1st December 1987]

Citation

1. These Regulations may be cited as the Central Provident Fund Regulations.

Time for payment of contributions

2.—(1) Subject to paragraphs (2) and (3), all contributions to the Fund payable by an employer under section 7(1) of the Act shall be paid to the Board not later than 14 days after the end of the month in respect of which the contributions are payable.

(2) The Board may, in the case of any employer or class or classes of employers, authorise the time for payment to be extended by not more than 7 days.

(3) Where the Board has authorised the withdrawal of the sum of money standing to the credit of a member in the Fund under section 15(2) or (3) of the Act, the Board may require any contributions due in respect of that member to be paid to the Fund by such earlier date as the Board may direct.

Time for payment of interest

3.—(1) Any sum due to the Board by way of interest under section 9 of the Act shall be paid to the Board within 14 days of a demand by the Board for such payment.

(2) Where the Board has recovered any interest in respect of arrears of contributions, the Board shall pay interest on the contributions that were received late as if the contributions had been paid on the due date.

Manner of paying contributions

4. All contributions to the Fund may be paid —

(a)	in cash at the Board’s office;
(b)	in cash at any post office in Singapore duly authorised to receive money on behalf of the Board;
(c)	by money order, postal order or cheque drawn on any bank in Singapore delivered or sent by post to the Board’s office; or
(d)	in such other manner as the Board may from time to time authorise in any particular case or class of cases.

Forms

5. All payments of contributions to the Fund shall be accompanied by such duly completed forms as the Board may require for that purpose.

Receipt of payments

6. A receipt or an acknowledgment thereof of any sum paid to the Board on account of contributions to the Fund may be given by the Board or any other person duly authorised to receive such contributions on behalf of the Board.

Unclaimed moneys

7.—(1) Where any amount has been authorised to be paid out of the Fund to any person entitled thereto under section 15(2) or (3) of the Act and that person has not obtained payment within one year of the date of the authorisation, such amount shall be accounted for as unclaimed.

(2) Where on 1st January in any year any amount is standing to the credit of any member in respect of whom no contributions have been received during the period of 10 years immediately preceding that year and if it appears to the Board —

(a)	that the member is above the age of 65 years and does not have a medisave account;
(b)	that the member who has a medisave account is dead and no claim has been received by the Board from any person entitled thereto for a period of 10 years from the date of the death of that member; or
(c)	that the identity and age of the member is unknown,

the Board may transfer the amount standing to the credit of that member in the Fund out of his account and account for it as unclaimed.

(3) If contributions again become payable for the member or it is established that the member has not attained the age of 65 years, any amount which has been transferred out of the member’s account and is accounted for as unclaimed under paragraph (1) or (2) shall be restored to the member’s account and credited with interest as if the transfer had not taken place.

(4) Any amount which remains accounted for as unclaimed for more than 10 years shall be transferred to the Reserve Account of the Fund.

(5) Where any amount has been —

(a)	accounted for as unclaimed and has not been restored under paragraph (3); or
(b)	transferred to the Reserve Account under paragraph (4),

the Board shall, upon the application of any person entitled to the whole or part of the amount, restore to the member’s account the amount due to the applicant and credit interest on the amount restored as if it had not been transferred out of the member’s account.

(6) Except as provided in paragraphs (3) and (5), no interest shall be added to any amount in respect of any period during which it is accounted for as unclaimed or after it has been transferred to the Reserve Account and any interest derived from the investment of any such amount shall be included with other income of the Fund.

[G.N. Nos. S 313/87; S 427/92; S 297/97]

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