Central Provident Fund (Lifelong Income Scheme) (Amendment) Regulations 2015

Status:

Published in Subsidiary Legislation Supplement
on 30 Jan 2015

No. S 32

Central Provident Fund Act

(CHAPTER 36)

Central Provident Fund (Lifelong Income
Scheme) (Amendment) Regulations 2015

In exercise of the powers conferred by section 27Q of the Central Provident Fund Act, the Minister for Manpower hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Central Provident Fund (Lifelong Income Scheme) (Amendment) Regulations 2015 and shall come into operation on 31 January 2015.

Amendment of regulation 8

2. Regulation 8 of the Central Provident Fund (Lifelong Income Scheme) Regulations 2009 (G.N. No. S 393/2009) is amended —

(a)

by deleting sub‑paragraphs (a) and (b) of paragraph (3) and substituting the following sub‑paragraph:

“(a)	into his account with a bank, in any case where he has applied, and the Board has approved his application, for the monthly income to be paid by crediting that bank account;”;

(b)

by deleting the words “a bank draft,” in paragraph (3)(c);

(c)

by re‑lettering the existing sub‑paragraphs (c) and (ca) of paragraph (3) as sub‑paragraphs (b) and (c), respectively; and

(d)

by deleting paragraphs (4) and (5) and substituting the following paragraphs:

“(4) Notwithstanding paragraph (3)(a) and (b), the Board shall pay the monthly income due under section 27K(6) of the Act to the relevant member referred to in paragraph (3) into his ordinary account, if —

(a)	in a case referred to in paragraph (3)(a), the payment into the relevant member’s bank account is unsuccessful; or
(b)	in a case referred to in paragraph (3)(b), the cheque or other physical payment instrument relating to the payment has been returned to the Board or has expired.

(5) Where paragraph (4)(a) or (b) applies, the monthly income shall be paid into the ordinary account of the relevant member referred to in paragraph (3) as soon as practicable after the Board is notified of the unsuccessful payment into the relevant member’s bank account, or after the cheque or other physical payment instrument has been returned to the Board or has expired (whichever is the earlier), as the case may be.”.

[G.N. Nos. S 816/2010; S 43/2012; S 542/2012; S 688/2012; S 476/2013]

Made on 28 January 2015.

LOH KHUM YEAN

Permanent Secretary,
Ministry of Manpower,
Singapore.

[S5.2/85V34; AG/LLRD/SL/36/2010/25 Vol. 2]

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

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