Central Provident Fund (New Retirement Sum Scheme) (Amendment No. 2) Regulations 2024

Status:

Published in Subsidiary Legislation Supplement
on 28 Jun 2024

No. S 549

Central Provident Fund Act 1953

Central Provident Fund
(New Retirement Sum Scheme)
(Amendment No. 2) 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. These Regulations are the Central Provident Fund (New Retirement Sum Scheme) (Amendment No. 2) Regulations 2024 and come into operation on 1 July 2024.

Amendment of regulation 7

2. In the Central Provident Fund (New Retirement Sum Scheme) Regulations (Rg 31) (called in these Regulations the principal Regulations), in regulation 7(1A), after “On”, insert “or after”.

Amendment of regulation 13A

3. In the principal Regulations, in regulation 13A —

(a)

in paragraph (3), replace sub-paragraph (a) with —

“(a)	the Board is notified of the member’s death;”; and

(b)

in paragraph (5), replace sub-paragraph (a) with —

“(a)	the Board is notified of the spouse’s death;”.

Amendment of regulation 19

4. In the principal Regulations, in regulation 19 —

(a)	in paragraph (1), replace “, the amount standing to the credit of the member in the bank account (if any) at the time of the member’s death” with “and the Board is notified of the member’s death, the amount standing to the credit of the member in the bank account (if any)”;
(b)	in paragraph (2), replace “, the amount representing the residual value of the approved annuity (if any) at the time of the member’s death” with “and the Board is notified of the member’s death, the amount representing the residual value of the approved annuity (if any)”; and
(c)	in paragraph (3), after “before the”, insert “Board is notified of the”.

[G.N. Nos. S 259/2007; S 505/2007; S 713/2007; S 327/2008; S 514/2008; S 619/2008; S 220/2009; S 397/2009; S 342/2010; S 369/2011; S 267/2012; S 293/2012; S 704/2012; S 345/2013; S 484/2013; S 854/2013; S 383/2014; S 425/2014; S 444/2014; S 35/2015; S 391/2015; S 852/2015; S 195/2016; S 736/2016; S 165/2017; S 341/2017; S 790/2017; S 593/2018; S 899/2018; S 374/2019; S 886/2019; S 201/2020; S 1088/2020; S 224/2021; S 848/2021; S 1021/2021; S 135/2022; S 280/2022; S 516/2022; S 1027/2022; S 306/2023; S 650/2023; S 918/2023; S 271/2024]

Made on 26 June 2024.

NG CHEE KHERN

Permanent Secretary,
Ministry of Manpower,
Singapore.

[Plg&Pol/CPFPol/Legis/CPFSL/2024; AG/LEGIS/SL/36/2020/10]

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

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