Central Provident Fund (Retirement Sum Scheme) (Amendment) Regulations 2022

No. S 137

Central Provident Fund Act 1953

Central Provident Fund
(Retirement Sum Scheme)
(Amendment) Regulations 2022

In exercise of the powers conferred by section 77(1) of the Central Provident Fund Act 1953, 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 (Retirement Sum Scheme) (Amendment) Regulations 2022 and come into operation on 1 March 2022.

Amendment of regulation 2

2. Regulation 2(3) of the Central Provident Fund (Retirement Sum Scheme) Regulations (Rg 16) (called in these Regulations the principal Regulations) is amended by deleting the words “section 15(2A), (7B) or (8A) of the Act” and substituting the words “section 15AA(5) of the Act or a former provision”.

Amendment of regulation 3

3. Regulation 3(1) of the principal Regulations is amended by deleting the words “section 15(7A)(e) of the Act” in paragraph (b)(i) of the definition of “member with partial benefits” and substituting the words “section 15AA(2)(b) of the Act or a former provision”.

New regulation 3A

4. The principal Regulations are amended by inserting, immediately after regulation 3, the following regulation:

“Former provisions

3A. In a regulation specified in the first column of the Third Schedule, a reference to a former provision means any provision of the Act specified in the second column of that Schedule opposite that regulation.”.

Amendment of regulation 7

5. Regulation 7 of the principal Regulations is amended —

(a)	by deleting the words “section 15(9), (9A), (11D) or (11E),” in paragraph (3) and substituting the words “section 15AB(1), (2), (10) or (11) of the Act or a former provision, or section”; and
(b)	by deleting the words “section 15(10) or (10A) or” in paragraph (3) and substituting the words “section 15AB(3) or (4) of the Act or a former provision, or section”.

Amendment of regulation 8

6. Regulation 8 of the principal Regulations is amended by deleting paragraph (1) and substituting the following paragraph:

“(1) Where —

(a)

any immovable property belongs to a member or the member’s spouse or both of them jointly; and

(b)

any of the following subsists over the immovable property:

(i)	any charge under section 15AB(1), (2), (10) or (11) of the Act or a former provision; or
(ii)	any undertaking under section 15AB(3) or (4) of the Act or a former provision,

the member or the member’s spouse or both of them must not mortgage, charge or otherwise encumber the immovable property unless with the prior written consent of the Board.”.

Amendment of regulation 8A

7. Regulation 8A of the principal Regulations is amended —

(a)

by deleting sub‑paragraph (a) of paragraph (1) and substituting the following sub‑paragraph:

“(a)

a member sells, transfers, assigns or otherwise disposes of an immovable property (or any of his estate or interest in the immovable property) to any person in respect of which —

(i)	a charge is created or constituted under section 15AB(1), (2), (10) or (11) of the Act or a former provision; or
(ii)	an undertaking is given under section 15AB(3) or (4) of the Act or a former provision; and”;

(b)

by deleting the words “section 15(9), (9A), (10), (10A), (11D) or (11E),” in paragraph (2A) and substituting the words “section 15AB(1), (2), (3), (4), (10) or (11) of the Act or a former provision, or section”;

(c)

by deleting the words “section 15(10B)” in paragraph (3) and substituting the words “section 15AB(5)”;

(d)

by deleting the words “section 15(2)(b), (c) or (g) of the Act” in paragraphs (3)(b) and (4)(b) and substituting in each case the words “section 15(2)(b) or (c) of the Act or section 15AA(1) of the Act because the member is suffering from a terminal illness or disease or a former provision”;

(e)

by deleting the words “section 15(2A)(a), (6)(a), (7B)(a) or (8A)(a) of the Act” in paragraphs (3)(c), (4)(c) and (5)(c) and substituting in each case the words “section 15(6)(a) or 15AA(5)(a) of the Act or a former provision”;

(f)

by deleting the words “section 15(8)(e) of the Act” in paragraphs (3)(d), (4)(d) and (5)(d) and substituting in each case the words “section 15AA(3)(b) of the Act or a former provision”;

(g)

by deleting the words “section 15(10) or (10A)” in paragraph (3)(e) and substituting the words “section 15AB(3) or (4)”;

(h)

by deleting the words “section 15(11F)(e)” in paragraph (4) and substituting the words “section 15AB(14)(e)”;

(i)

by deleting sub‑paragraph (e) of paragraph (4) and substituting the following sub‑paragraph:

“(e)

where the charge mentioned in section 15(11F) of the Act as in force before 1 March 2022 is constituted on or after 1 January 2016, but before 1 January 2017, to secure the payment of an amount to the Board, the member has, at the time when that charge is constituted, a relevant property charge which secures an amount not less than the amount secured by the charge constituted under section 15(11D) or (11E) of the Act as in force before 1 March 2022, as the case may be;”; and

(j)

by deleting the words “section 15(2)(b), (c) or (g) of the Act” in paragraph (5)(b) and substituting the words “section 15(2)(b) or (c) of the Act or section 15AA(1) of the Act because the spouse is suffering from a terminal illness or disease or a former provision”.

Amendment of regulation 12

8. Regulation 12 of the principal Regulations is amended by inserting, immediately after paragraph (4), the following paragraph:

“(5) Despite paragraph (1A), where the amount standing to the member’s credit in his retirement account is less than $250 on the date the member may be paid his monthly income under paragraph (1) (called in this regulation the relevant date), the Board may defer the payment for —

(a)	one year after the last day of the month in which the relevant date falls; or
(b)	any shorter period determined by the Board.”.

Amendment of regulation 12A

9. Regulation 12A of the principal Regulations is amended by deleting the words “1.5 times the retirement sum” in paragraphs (1), (2) and (3) and the regulation heading and substituting in each case the words “less than the aggregate of the retirement sums of both members”.

Amendment of regulation 13D

10. Regulation 13D(2) of the principal Regulations is amended by deleting “$100” and substituting “$250”.

Amendment of regulation 15

11. Regulation 15 of the principal Regulations is amended —

(a)	by deleting the words “section 15(7A) or (8C) of the Act” in paragraphs (1)(b) and (2)(b) and substituting in each case the words “section 15AA(2) or (7) of the Act or a former provision”; and
(b)	by deleting the words “section 15(8)(e) of the Act” in paragraph (3)(a) and substituting the words “section 15AA(3)(b) of the Act or a former provision”.

Amendment of regulation 16

12. Regulation 16(3) of the principal Regulations is amended by deleting the words “(8C) of the Act” and substituting the words “15AA(7) of the Act or a former provision”.

Amendment of regulation 18

13. Regulation 18 of the principal Regulations is amended by deleting the words “section 15(8)” in paragraph (b) and substituting the words “section 15AA(3)”.

New Third Schedule

14. The principal Regulations are amended by inserting, immediately after the Second Schedule, the following Schedule:

“THIRD SCHEDULE

Regulation 3A

FOrmer provisions

First column

Second column

Regulation containing reference
to a former provision

Former provisions

1.	Regulation 2(3)

Section 15(2A), (7B) or (8A) of the Act as in force before 1 March 2022

2.	Regulation 3(1) (paragraph (b)(i) of definition of “member with partial benefits”)

Section 15(7A)(e) of the Act as in force before 1 March 2022

3	Regulation 7(3) (first occurrence of “former provision”)

Section 15(9), (9A), (11D) or (11E) of the Act as in force before 1 March 2022

4.	Regulation 7(3) (second occurrence of “former provision”)

Section 15(10) or (10A) of the Act as in force before 1 March 2022

5.	Regulation 8(1)(b)(i)

Section 15(9), (9A), (11D) or (11E) of the Act as in force before 1 March 2022

6.	Regulation 8(1)(b)(ii)

Section 15(10) or (10A) of the Act as in force before 1 March 2022

7.	Regulation 8A(1)(a)(i)

Section 15(9), (9A), (11D) or (11E) of the Act as in force before 1 March 2022

8.	Regulation 8A(1)(a)(ii)

Section 15(10) or (10A) of the Act as in force before 1 March 2022

9.	Regulation 8A(2A)

Section 15(9), (9A), (10), (10A), (11D) or (11E) of the Act as in force before 1 March 2022

10.	Regulation 8A(3)(b) and (4)(b)

Section 15(2)(g) of the Act as in force before 1 March 2022

11.	Regulation 8A(3)(c), (4)(c) and (5)(c)

Section 15(2A)(a), (7B)(a) or (8A)(a) of the Act as in force before 1 March 2022

12.	Regulation 8A(3)(d), (4)(d) and (5)(d)

Section 15(8)(e) of the Act as in force before 1 March 2022

13.	Regulation 8A(5)(b)

Section 15(2)(g) of the Act as in force before 1 March 2022

14.	Regulation 15(1)(b) and (2)(b)

Section 15(7A) or (8C) of the Act as in force before 1 March 2022

15.	Regulation 15(3)(a)

Section 15(8)(e) of the Act as in force before 1 March 2022

16.	Regulation 16(3)

Section 15(8C) of the Act as in force before 1 March 2022

”.

[G.N. Nos. S 503/2007; S 707/2007; S 396/2009; S 341/2010; S 263/2012; S 708/2012; S 481/2013; S 850/2013; S 443/2014; S 34/2015; S 851/2015; S 192/2016; S 735/2016; S 343/2017; S 788/2017; S 591/2018; S 373/2019; S 199/2020; S 847/2021; S 1019/2021]

Made on 27 February 2022.

AUBECK KAM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[Plg&Pol/CPFPol/Legis/CPFSL/2022; AG/LEGIS/SL/36/2020/35 Vol. 1]

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

Search within Legislation