Singapore Armed Forces (Saver-premium Fund) Regulations

Singapore Armed Forces Act

(Chapter 295, Section 205C)

Rg 18

G.N. No. S 186/1998

REVISED EDITION 2001

(31st January 2001)

[1st April 1998]

PART I

PRELIMINARY

Citation

1. These Regulations may be cited as the Singapore Armed Forces (SAVER-Premium Fund) Regulations.

Definitions

2. In these Regulations, unless the context otherwise requires —

“Board” means the Board of Trustees appointed in accordance with regulation 3;

“CARE Account” means the Career and Retirement Endowment Account referred to in regulation 12(2)(a);

“CARE Initial Quantum”, in relation to the CARE Account, means the initial lump sum contribution which may be granted by the Armed Forces Council to a member of the Premium Plan upon the member completing not less than 10 years of reckonable service in accordance with the Singapore Armed Forces (Premium Plan) Regulations (Rg 22);

“Chairman” means the Chairman of the Board;

“Compensation Account” means the Compensation Account referred to in regulation 11(a);

“Contribution Account” means the Contribution Account referred to in regulation 11(b);

“financial year” means the financial year of the SAVER- Premium Fund;

“Forfeiture Account” means the Forfeiture Account referred to in regulation 11(c);

“Income Account” means the Income Account referred to in regulation 11(d);

“Loan and Benefits Account” means the Loan and Benefits Account referred to in regulation 11(e);

“Medical Account” means the Medical Account referred to in regulation 11(f);

“member” means a member of the SAVER Plan or the Premium Plan;

“net income”, in relation to the SAVER-Premium Fund, means the amount ascertained by adding to, or deducting from, the income received from investments of capital moneys in the SAVER-Premium Fund any profit derived or loss sustained, as the case may be, from the realisation of such investments;

“Premium Plan” means the Premium Plan established by the Singapore Armed Forces (Premium Plan) Regulations made under section 205A of the Act;

“Provisional Account” means the Provisional Account referred to in regulation 11(g);

“SAVER Plan” means the SAVER Plan established by the Singapore Armed Forces (SAVER Plan) Regulations (Rg 19) made under section 205A of the Act;

“secretary” means the secretary of the Board appointed under regulation 7(1);

“START Account” means the Specialist Account to Reward Ten-Year Engagement Account referred to in regulation 11(h);

“subsidiary account” means any subsidiary account referred to in regulation 12(1);

“trustee” means a member of the Board, including the Chairman.

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