Central Provident Fund (Revised Retirement Sum Scheme) (Amendment) Regulations 2024

No. S 274

Central Provident Fund Act 1953

Central Provident Fund
(Revised Retirement Sum Scheme)
(Amendment) Regulations 2024

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.—(1) These Regulations are the Central Provident Fund (Revised Retirement Sum Scheme) (Amendment) Regulations 2024 and, except for regulation 5, come into operation on 1 April 2024.

(2) Regulation 5 is deemed to have come into operation on 31 December 2021.

Amendment of regulation 6

2. In the Central Provident Fund (Revised Retirement Sum Scheme) Regulations (Rg 2) (called in these Regulations the principal Regulations), in regulation 6 —

(a)	in the regulation heading, delete “arising from property charge that ceased to be in force”; and
(b)	in paragraph (1), replace “regulation 3” with “regulation 2 or 3”.

Amendment of regulation 14A

3. In the principal Regulations, in regulation 14A(3)(b), (4)(b) and (5)(b), replace “or (c) of the Act” with “of the Act or a former provision,”.

Amendment of Fifth Schedule

4. In the principal Regulations, in the Fifth Schedule —

(a)

replace item 15 with —

“

15.	Regulation 14A(3)(b) and (4)(b) (first occurrence of “former provision”)

Section 15(2)(b) or (c) of the Act as in force before 1 April 2024

15A.	Regulation 14A(3)(b) and (4)(b) (second occurrence of “former provision”)

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

”; and

(b)

replace item 19 with —

“

19.	Regulation 14A(5)(b) (first occurrence of “former provision”)

Section 15(2)(b) or (c) of the Act as in force before 1 April 2024

19A.	Regulation 14A(5)(b) (second occurrence of “former provision”)

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

”.

Miscellaneous amendments

5. In the principal Regulations —

(a)

in regulation 3, in the definition of “insurer”, replace “(Cap. 142)” with “1966”;

(b)

in the following provisions, replace “27E(1)(iv) or 27F(1)(iv)” with “27E(1)(h) or 27F(1)(h)”:

Regulation 3, definition of “relevant property charge”

Regulation 13(2)(a);

(c)

in the following provisions, replace “27C(1)(v), 27D(1)(v), 27DA(1)(v)” with “27C(1)(i), 27D(1)(j), 27DA(1)(i)”:

Regulation 4B(4), definition of “applicable charge”, paragraphs (a), (b), (c) and (d)

Regulation 14(2)

Regulation 14A(2A);

(d)

in the following provisions, replace “27C(1)(v), 27D(1)(v)(B), 27DA(1)(v)” wherever it appears with “27C(1)(i), 27D(1)(j)(ii), 27DA(1)(i)”:

Regulation 12A(1)(b)(ii)

Regulation 13(2)(a)

Regulation 14A(2)(a) and (4A);

(e)

in the following provisions, replace “27D(1)(v)(A)” with “27D(1)(j)(i)”:

Regulation 12A(1)(b)(ii)

Regulation 13(2)(a)

Regulation 14A(2)(a) and (5)(f); and

(f)

in regulation 14A(5), replace “section 27D(1)(vi)” with “section 27D(1)(k)”.

[G.N. Nos. S 504/2007; S 702/2007; S 394/2009; S 339/2010; S 261/2012; S 706/2012; S 477/2013; S 849/2013; S 381/2014; S 441/2014; S 33/2015; S 850/2015; S 190/2016; S 733/2016; S 342/2017; S 786/2017; S 592/2018; S 366/2019; S 197/2020; S 215/2021; S 845/2021; S 1014/2021; S 136/2022; S 281/2022; S 303/2023; S 651/2023]

Made on 28 March 2024.

NG CHEE KHERN

Permanent Secretary,
Ministry of Manpower,
Singapore.

[Plg&Pol/CPFPol/Legis/CPFSL/2024; AG/LEGIS/SL/36/2020/11 Vol. 1]

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

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