Central Provident Fund (Topping-Up of Special Account) (Amendment No. 3) Regulations 2021

Status:

Published in Subsidiary Legislation Supplement
on 30 Dec 2021

No. S 1022

Central Provident Fund Act

(CHAPTER 36)

Central Provident Fund
(Topping-Up of Special Account)
(Amendment No. 3) Regulations 2021

In exercise of the powers conferred by section 77(1) of the Central Provident Fund Act, the Minister for Manpower, after consulting with the Central Provident Fund Board, makes the following Regulations:

Citation and commencement

1. These Regulations are the Central Provident Fund (Topping‑Up of Special Account) (Amendment No. 3) Regulations 2021 and come into operation on 1 January 2022.

Amendment of regulation 3

2. Regulation 3 of the Central Provident Fund (Topping‑Up of Special Account) Regulations (Rg 37) is amended —

(a)

by inserting, immediately after the definition of “benefit component” in paragraph (1), the following definition:

“ “giver” has the meaning given by section 19D(9) of the Act;”;

(b)

by inserting, immediately after the definition of “member’s investment amount” in paragraph (1), the following definition:

“ “payer” has the meaning given by section 19D(9) of the Act;”;

(c)

by inserting, immediately after the definition of “prevailing retirement sum” in paragraph (1), the following definition:

“ “proper claimant” has the meaning given by section 19D(9) of the Act;”;

(d)

by deleting the full-stop at the end of the definition of “relevant deductibles” in paragraph (1) and substituting a semi‑colon, and by inserting immediately thereafter the following definition:

“ “remaining moneys” has the meaning given by section 19D(9) of the Act.”;

(e)

by deleting the full‑stop at the end of sub‑paragraph (viii) of paragraph (3)(c) and substituting a semi‑colon, and by inserting immediately thereafter the following sub‑paragraph:

“(ix)

any amount of the remaining moneys —

(A)	refunded to a giver’s account from the member’s retirement account under section 19D(2) or (7)(a) of the Act; or
(B)	paid to a payer, the personal representatives of the payer or a proper claimant from the member’s retirement account under section 19D(3) or (7)(b) of the Act.”; and

(f)

by deleting the full-stop at the end of sub‑paragraph (v) of paragraph (4)(d) and substituting a semi‑colon, and by inserting immediately thereafter the following sub‑paragraph:

“(vi)

any amount of the remaining moneys —

(A)	refunded to a giver’s account from the applicable member’s retirement account under section 19D(2) or (7)(a) of the Act; or
(B)	paid to a payer, the personal representatives of the payer or a proper claimant from the applicable member’s retirement account under section 19D(3) or (7)(b) of the Act.”.

Amendment of regulation 10

3. Regulation 10 of the Central Provident Fund (Topping‑Up of Special Account) Regulations is amended by deleting the words “and 19C” in paragraphs (1) and (2) and substituting in each case the words “, 19C and 19D”.

[G.N. Nos. S 515/2008; S 106/2009; S 373/2009; S 729/2011; S 538/2012; S 702/2012; S 855/2013; S 426/2014; S 854/2015; S 732/2016; S 791/2017; S 597/2018; S 375/2019; S 887/2019; S 226/2021; S 849/2021]

Made on 28 December 2021.

AUBECK KAM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[Plg&Pol/CPFPol/Legis/CPFSL/2021; AG/LEGIS/SL/36/2020/21 Vol. 1]

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

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