Central Provident Fund (Self-Employed Persons) (Amendment No. 2) Regulations 2010

No. S 484

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Self-employed Persons) (Amendment No. 2) Regulations 2010

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

Citation and commencement

1.—(1) These Regulations may be cited as the Central Provident Fund (Self-Employed Persons) (Amendment No. 2) Regulations 2010 and shall, with the exception of regulation 5, come into operation on 1st September 2010.

(2) Regulation 5 shall be deemed to have come into operation on 1st January 2010.

Amendment of regulation 4

2. Regulation 4 of the Central Provident Fund (Self-Employed Persons) Regulations (Rg 25) (referred to in these Regulations as the principal Regulations) is amended by deleting paragraph (1) and substituting the following paragraph:

“(1) Subject to paragraph (2), every self-employed person to whom these Regulations apply shall pay contributions into the Fund on his own behalf —

(a)	at the applicable rate specified in the second column of items 1 to 11 in the First Schedule in respect of the period specified in the first column thereto;
(b)	at the applicable rate specified in the second, third and fourth columns of item 12 in the First Schedule in respect of each relevant year in the period from 1st January 2007 to 31st December 2009;
(c)	at the applicable rate specified in the second, third and fourth columns of item 13 in the First Schedule in respect of the relevant year beginning 1st January 2010; and
(d)	at the applicable rate specified in the second, third and fourth columns of item 14 in the First Schedule in respect of the relevant year beginning 1st January 2011 and every subsequent relevant year.”.

Amendment of regulation 9

3. Regulation 9(3) of the principal Regulations is amended by deleting the words “item 12” in sub-paragraph (a)(ii) and substituting the words “items 12, 13 and 14”.

Amendment of regulation 10

4. Regulation 10(3) of the principal Regulations is amended by deleting the words “item 12” in sub-paragraph (a)(ii) and substituting the words “items 12, 13 and 14”.

Amendment of regulation 17

5. Regulation 17 of the principal Regulations is amended by deleting paragraph (2) and substituting the following paragraph:

“(2) The maximum amount which a person may contribute voluntarily under paragraph (1) shall not exceed —

(a)	in respect of the relevant year beginning 1st January 2010, the sum of $26,775; and
(b)	in respect of the relevant year beginning 1st January 2011 and every subsequent relevant year, the sum of $27,158.”.

Amendment of First Schedule

6. The First Schedule to the principal Regulations is amended —

(a)

by deleting the words “For the relevant year beginning 1st January 2007 and for every subsequent relevant year” in item 12 and substituting the words “For each relevant year in the period from 1st January 2007 to 31st December 2009”; and

(b)

by inserting, immediately after item 12, the following items:

“13. For the relevant year beginning 1st January 2010, the contributions payable by a self-employed person are as follows:

Total amount of the self-employed person’s income

Self-employed person who has not attained 35 years of age on 1st January 2010

Self-employed person who has attained 35 years of age but has not attained 45 years of age on 1st January 2010

Self-employed person who has attained 45 years of age on 1st January 2010

(1)

(2)

(3)

(4)

Not exceeding $6,000

Nil

Exceeding $6,000 but not exceeding $12,000

An amount equal to 2.22% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year.

An amount equal to 2.56% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year.

An amount equal to 2.89% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year.

Exceeding $12,000 but not exceeding $18,000

An amount equal to the sum of $266.40 and 0.1557 of the difference between the income (less any allowance or honorarium he received for that year as a Member of Parliament) of the year and $12,000.

An amount equal to the sum of $307.20 and 0.1789 of the difference between the income (less any allowance or honorarium he received for that year as a Member of Parliament) of the year and $12,000.

An amount equal to the sum of $346.80 and 0.2023 of the difference between the income (less any allowance or honorarium he received for that year as a Member of Parliament) of the year and $12,000.

Exceeding $18,000

An amount equal to 6.67% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year, subject to a maximum of $3,601.

An amount equal to 7.67% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year, subject to a maximum of $4,141.

An amount equal to 8.67% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year, subject to a maximum of $4,681.

14. For the relevant year beginning 1st January 2011 and for every subsequent relevant year, the contributions payable by a self-employed person are as follows:

Total amount of the self-employed person’s income

Self-employed person who has not attained 35 years of age on 1st January of the relevant year

Self-employed person who has attained 35 years of age but has not attained 45 years of age on 1st January of the relevant year

Self-employed person who has attained 45 years of age on 1st January of the relevant year

(1)

(2)

(3)

(4)

Not exceeding $6,000

Nil

Exceeding $6,000 but not exceeding $12,000

An amount equal to 2.33% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year.

An amount equal to 2.67% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year.

An amount equal to 3% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year.

Exceeding $12,000 but not exceeding $18,000

An amount equal to the sum of $279.60 and 0.1634 of the difference between the income (less any allowance or honorarium he received for that year as a Member of Parliament) of the year and $12,000.

An amount equal to the sum of $320.40 and 0.1866 of the difference between the income (less any allowance or honorarium he received for that year as a Member of Parliament) of the year and $12,000.

An amount equal to the sum of $360 and 0.21 of the difference between the income (less any allowance or honorarium he received for that year as a Member of Parliament) of the year and $12,000.

Exceeding $18,000

An amount equal to 7% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year, subject to a maximum of $3,780.

An amount equal to 8% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year, subject to a maximum of $4,320.

An amount equal to 9% of the income (less any allowance or honorarium he received for that year as a Member of Parliament) for that year, subject to a maximum of $4,860.”.

[G.N. Nos. S 321/2007; S 506/2007; S 745/2007; S 146/2008; S 513/2008; S 3/2010; S 153/2010]

Made this 30th day of August 2010.

LOH KHUM YEAN

Permanent Secretary,
Ministry of Manpower,
Singapore.

[[MMS 9/73-10 VOT1; AG/LLRD/SL/36/2010/24 Vol. 1] ]

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

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