No. S 553
Singapore Armed Forces Act
(Chapter 295)
Singapore Armed Forces (Premium Plan) (Amendment) Regulations 2005
In exercise of the powers conferred by section 205A of the Singapore Armed Forces Act, the Armed Forces Council hereby makes the following Regulations:
Citation and commencement
1.  These Regulations may be cited as the Singapore Armed Forces (Premium Plan) (Amendment) Regulations 2005 and shall be deemed to have come into operation on 1st August 2005.
Amendment of regulation 18
2.  Regulation 18 of the Singapore Armed Forces (Premium Plan) Regulations (Rg 22) is amended —
(a)by deleting paragraph (2) and substituting the following paragraph:
(2)  Notwithstanding paragraph (1) —
(a)where a member retires from the Singapore Armed Forces on the ground specified in regulation 11 (b) or (d), the sum vested in the member under paragraph (1) may be reduced to the extent determined by the Armed Forces Council;
(b)where a member who has converted to the Premium Plan on 31st March 2000 retires from the Singapore Armed Forces on the ground specified in regulation 11 (c), the sum vested in the member under paragraph (1) may be increased to the extent determined by the Armed Forces Council; and
(c)where a member retires from the Singapore Armed Forces on the ground specified in regulation 11 (e), the sum vested in the member under paragraph (1) may be increased to the extent determined by the Armed Forces Council.”;
(b)by inserting, immediately after the words “these Regulations” in paragraph (3), the words “but subject to paragraph (3A)”; and
(c)by inserting, immediately after paragraph (3), the following paragraph:
(3A)  Paragraph (3) shall not apply to a member who retires on the ground specified in regulation 11(c).”.
Deletion and substitution of First Schedule
3.  The First Schedule to the Singapore Armed Forces (Premium Plan) Regulations is deleted and the following Schedule substituted therefor:
FIRST SCHEDULE
Regulation 18(1)
Vesting for the Care Accounts
1.  Vesting for members who —
(a)are enlisted for regular service as soldiers on the premium plan on or after 1st January 2000, other than non-uniformed servicemen, and retire or resign from the Singapore Armed Forces; or
(b)converted to the Premium Plan on or after 31st March 2000 and retire or resign at the rank of Warrant Officer or above:
Age of member at date of retirement or resignation (years)
Portion of moneys in a member’s CARE Account that will vest in him
33 and below
20%
34
25%
35
30%
36
35%
37
40%
38
45%
39
50%
40
55%
41
60%
42
65%
43
70%
44
75%
45
80%
46
80%
47
85%
48
85%
49
90%
50
90%
51
95%
52
95%
53 and above
100%.
2.  Vesting for members who converted to the Premium Plan on or after 31st March 2000 and retire or resign at a rank below the rank of Warrant Officer:
Age of member at date of retirement or resignation (years)
Portion of moneys in a member’s CARE Account that will vest in him
33 and below
20%
34
25%
35
30%
36
35%
37
40%
38
45%
39
50%
40
55%
41
60%
42
65%
43
70%
44
75%
45
80%
46
80%
47
85%
48
100%
49
100%
50
100%.”.
[G.N. Nos. S 377/2003; S 709/2004]

Made this 11th day of August 2005.

LAM YI YOUNG
Secretary,
Armed Forces Council,
Singapore.
[MINDEF 4-4/26-3-5/ML; AG/LEG/SL/295/2002/1 Vol. 6]
(To be presented to Parliament under section 207 of the Singapore Armed Forces Act).