Central Provident Fund (Minimum Sum Topping-Up Scheme) (Amendment No. 2) Regulations 2000

No. S 590

Central Provident Fund Act

(Chapter 36)

Central Provident Fund
(Minimum Sum Topping-up Scheme)
(Amendment No. 2) Regulations 2000

In exercise of the powers conferred by section 77(1)(n) of the Central Provident Fund Act, the Minister for Manpower, after consultation 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 No. 2) Regulations 2000 and shall come into operation on 28th December 2000.

Amendment of regulation 4

2. Regulation 4 of the Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations (Rg 3) (referred to in these Regulations as the principal Regulations) is amended —

(a)

by inserting, immediately after the word “parent’s” in the 3rd line of paragraph (1), the word “, grandparent’s”; and

(b)

by deleting the regulation heading and substituting the following regulation heading:

“Payment of moneys into member’s own or his parent’s, grandparent’s or spouse’s retirement account”.

Deletion and substitution of regulation 6

3. Regulation 6 of the principal Regulations is deleted and the following regulation substituted therefor:

“Maximum topping-up limit

6.—(1) For the purposes of regulations 7 and 8, the maximum topping-up limit applicable to a recipient shall be —

(a)	where the recipient was born before 1st January 1932, $30,000; and
(b)	where the recipient was born on or after 1st January 1932, the minimum sum applicable to him.

(2) Where the maximum topping-up limit applicable to a recipient immediately before 28th December 2000 is a higher amount than that applicable to him under paragraph (1), the maximum topping-up limit applicable to him shall be the higher amount.”.

Amendment of regulation 7

4. Regulation 7 of the principal Regulations is amended —

(a)

by deleting paragraph (1) and substituting the following paragraph:

“(1) In the case of a transfer or payment by a member to the retirement account of his spouse or his divorced or widowed parent or grandparent, the maximum amount by which that retirement account can be topped up shall be —

(a)	where the recipient is a member immediately before he attains the age of 55 years, the maximum topping-up limit applicable to the recipient under regulation 6 less the regrossed balance of the recipient immediately before he attains the age of 55 years; or
(b)	where the recipient is not a member immediately before he attains the age of 55 years, the maximum topping-up limit applicable to the recipient under regulation 6.”;

(b)

by deleting the words “regulation 6 (a)” in the 3rd line of paragraph (2)(a) and substituting the words “regulation 6”;

(c)

by deleting the word “and” at the end of paragraph (2)(a) and substituting the word “or”;

(d)

by deleting the words “regulation 6 (b)” at the end of paragraph (2)(b) and substituting the words “regulation 6”; and

(e)

by inserting, immediately after the word “parent’s” in the regulation heading, the words “or grandparent’s”.

Amendment of regulation 8

5. Regulation 8 of the principal Regulations is amended —

(a)

by deleting the word “or” at the end of sub-paragraph (a);

(b)

by deleting sub-paragraph (b) and substituting the following sub-paragraphs:

“(b)	the retirement account of a grandparent where both grandparents are married and living; or
(c)	a married person’s own retirement account where his spouse is living,”;

(c)

by deleting the words “parent’s or the person’s” in the 5th line;

(d)

by inserting, immediately after the words “paragraph (a)” in the 9th and in the 16th lines, the words “or (b)”;

(e)

by inserting, immediately after the word “parent” in the 10th and in the 17th lines, the words “or grandparent”;

(f)

by deleting the words “paragraph (b)” in the 12th and in the 20th lines and substituting in each case the words “paragraph (c)”; and

(g)

by deleting the regulation heading and substituting the following regulation heading:

“Amount payable or transferable to member’s own or his parent’s or grandparent’s retirement account where member and spouse, parents or grandparents are married and living”.

Amendment of regulation 10

6. Regulation 10 (2) of the principal Regulations is amended by deleting the words “and payments”.

[G.N. Nos. S 349/98; S 297/99;S 315/2000]

Made this 26th day of December 2000.

TAN CHIN NAM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MM S 5.2R/85 V3; AG/LEG/SL/36/97/7 Vol. 1]

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

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