Central Provident Fund (Prescribed Amount for Medisave Account) Regulations

Central Provident Fund Act

(Chapter 36, Sections 16 and 77(1))

Rg 22

G.N. No. S 360/2006

REVISED EDITION 2010

(31st May 2010)

[1st July 2006]

Citation

1. These Regulations may be cited as the Central Provident Fund (Prescribed Amount for Medisave Account) Regulations.

Prescribed amount generally

2. Subject to regulation 3, the prescribed amount under section 16 of the Act shall be $32,000.

Prescribed amount for members with certain medical benefits

3.—(1) The prescribed amount under section 16 of the Act shall be $16,000 for any member of the Fund who —

(a)	is a retired public officer and is entitled to medical benefits under the Co-payment on Ward Charges Scheme administered by the Public Service Division, Prime Minister’s Office; or
(b)	is entitled to medical benefits under any other scheme which, in the opinion of the Minister for Health, confers medical benefits comparable to those under the Co-payment on Ward Charges Scheme referred to in sub-paragraph (a).

(2) The prescribed amount under section 16 of the Act shall be nil for any member of the Fund who —

(a)	is a retired public officer and is entitled to medical benefits under the Fixed Amount on Ward Charges Scheme administered by the Public Service Division, Prime Minister’s Office; or
(b)	is entitled to medical benefits under any other scheme which, in the opinion of the Minister for Health, confers medical benefits comparable to those under the Fixed Amount on Ward Charges Scheme referred to in sub-paragraph (a).

(3) Notwithstanding paragraph (2), a member of the Fund referred to in that paragraph may apply to the Minister for Health for approval to maintain in his medisave account the amount of $16,000 , and such application shall be irrevocable.

(4) The Minister for Health may, in granting any approval under paragraph (3), impose such terms and conditions as he considers appropriate.

[G.N. Nos.S360/2006; S260/2007; S 404/2007; S326/2008; S 219/2009]

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