Home Affairs Uniformed Services (INVEST Plan) (Amendment) Regulations 2007

Status:

Published in Subsidiary Legislation Supplement
on 26 Jan 2007

No. S 32

Home Affairs Uniformed Services Superannuation Act

(Chapter 126B)

Home Affairs Uniformed Services (Invest Plan) (Amendment) Regulations 2007

In exercise of the powers conferred by section 3 of the Home Affairs Uniformed Services Superannuation Act, the Minister for Home Affairs hereby makes the following Regulations:

Citation and commencement

1.—(1) These Regulations may be cited as the Home Affairs Uniformed Services (INVEST Plan) (Amendment) Regulations 2007 and shall, with the exception of regulation 8, be deemed to have come into operation on 1st October 2001.

(2) Regulation 8 shall come into operation on 30th January 2007.

Amendment of regulation 11

2. Regulation 11 of the Home Affairs Uniformed Services (INVEST Plan) Regulations (Rg 2) (referred to in these Regulations as the principal Regulations) is amended by inserting, immediately after paragraph (1), the following paragraph:

“(1A) Where a member’s service has been terminated on the ground that, having regard to his performance, such termination is desirable in the public interest, the member shall be deemed to have been required to retire from service on the ground specified in paragraph (1)(e).”.

Amendment of regulation 12

3. Regulation 12 of the principal Regulations is amended ––

(a)

by deleting sub-paragraph (c) of paragraph (1) and substituting the following sub-paragraph:

“(c)	in the case of the Retirement Account, a monthly contribution at the prescribed rate of a sum comprising the member’s gross salary and any bonus paid to the member in that month;”; and

(b)

by deleting paragraph (4) and substituting the following paragraph:

“(4) The Board may, during or after each financial year ––

(a)	declare to each member’s Retirement Account or CPF Top-Up Account or both a dividend out of the net income and net unrealised profits of the Fund for that financial year; and
(b)	credit to each member’s Retention Account, if any, interest at such rate as the Board shall determine for that financial year.”.

Amendment of regulation 15

4. Regulation 15 of the principal Regulations is amended by deleting paragraph (3) and substituting the following paragraph:

“(3) Where a member’s accounts are closed under paragraph (1) or (2) during a financial year before a dividend or interest, if any, is declared for that financial year or the previous financial year, the Board may, notwithstanding paragraph (1) or (2), cause to continue to be credited into the member’s accounts interest at such rate as it determines until the moneys in those accounts are paid, and that interest shall be in lieu of any dividend or interest that may be declared or credited under regulation 12 (4).”.

Amendment of regulation 16

5. Regulation 16 (1) of the principal Regulations is amended by deleting the words “in lieu of any dividend declared under regulation 12 (4)” and substituting the words “in accordance with regulation 12 (4) (b)”.

Amendment of regulation 18

6. Regulation 18 (2) of the principal Regulations is amended by deleting sub-paragraph (a) and substituting the following sub-paragraph:

“(a)

where a member retires from service on the ground specified in regulation 11 (1)(e) following disciplinary proceedings by or under the authority of the Public Service Commission or by a disciplinary officer under that service, all moneys standing to the member’s credit in his Retention Account or Retirement Account or both, which have vested in him under paragraph (1A) may be forfeited or reduced to the extent as determined by the award officer; and”.

New regulation 19A

7. The principal Regulations are amended by inserting, immediately after regulation 19, the following regulation:

“Arrangements for members who transfer from Police Force to other uniformed service

19A. Notwithstanding any provision to the contrary in these Regulations where a member who is a senior police officer is transferred from the Police Force and appointed as any other uniformed service officer, then with effect from the date of his transfer —

(a)	all contributions to his CPF Top-Up Account shall cease and his CPF Top-Up Account shall be closed with effect from that date; and
(b)	all moneys in his CPF Top-Up Account shall be transferred to the Central Provident Fund Board to the credit of the member’s account in the Central Provident Fund.”.

Amendment of regulation 24

8. Regulation 24 (3) of the principal Regulations is amended by deleting the words “Compensation Account” and substituting the words “Income Account”.

[G.N. No. S 413/2004]

Made this 11th day of January 2007.

BENNY LIM

Permanent Secretary,
Ministry of Home Affairs,
Singapore.

[MHA 181/12/007; AG/LEG/SL/126B/2001/1 Vol. 2]

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