Central Provident Fund (Minimum Sum Topping-Up Scheme) (Amendment) Regulations 2008

Status:

Published in Subsidiary Legislation Supplement
on 01 Nov 2008

No. S 510

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Minimum Sum Topping-up Scheme) (Amendment) Regulations 2008

In exercise of the powers conferred by section 77(1) of the Central Provident Fund Act, Mr Gan Kim Yong, Senior Minister of State, charged with the responsibility of the Minister for Manpower, after consulting with the Central Provident Fund Board, hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Central Provident Fund (Minimum Sum Topping-Up Scheme) (Amendment) Regulations 2008 and shall come into operation on 1st November 2008.

Amendment of regulation 5

2. Regulation 5 of the Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations (Rg 3) is amended —

(a)	by deleting the words “his parent’s, grandparent’s, spouse’s or sibling’s retirement account” in paragraph (1)(a) and substituting the words “the retirement account of a member”; and
(b)	by deleting the words “parent’s, grandparent’s, spouse’s or sibling’s” in the regulation heading.

Deletion and substitution of regulation 11

3. Regulation 11 of the Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations is deleted and the following regulation substituted therefor:

“Death of member, or withdrawal by member under section 15(2)(b) or (c ) of Act

11.—(1) Subject to section 19(3) and (4) of the Act, where any moneys have been transferred to a member’s retirement account under section 18(1)(a) or (2)(a) of the Act and in accordance with these Regulations, upon the death of the member, or upon the withdrawal of any sum from the Fund by the member under section 15(2)(b) or (c) of the Act, the moneys so transferred or the balance thereof shall be credited —

(a)	to the ordinary account from which it was transferred; or
(b)	where 2 or more persons have contributed to those moneys, to the ordinary accounts of those persons in the proportion of each such person’s contribution.

(2) Subject to section 19(7) and (8) of the Act, where any moneys have been paid to a member’s retirement account before 1st November 2008 under section 18(1)(b) or (2)(b) of the Act as in force immediately before that date and in accordance with these Regulations as in force immediately before that date, upon the death of the member, the moneys so paid or the balance thereof shall be credited —

(a)	to the ordinary account of the person who made the payment; or
(b)	where 2 or more persons have contributed to those moneys, to the ordinary accounts of those persons in the proportion of each such person’s contribution.”.

[G.N. No. S 513/2007]

Made this 15th day of October 2008.

LEO YIP

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMS 7/68 V53; AG/LEG/SL/36/2005/28 Vol. 1]

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

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