No. S 599
Education Endowment and Savings Schemes Act
(CHAPTER 87A)
Education Endowment and Savings Schemes
(Post-Secondary Education Scheme)
(Amendment) Regulations 2012
In exercise of the powers conferred by section 24 of the Education Endowment and Savings Schemes Act, the Minister for Education hereby makes the following Regulations:
Citation and commencement
1.  These Regulations may be cited as the Education Endowment and Savings Schemes (Post-Secondary Education Scheme) (Amendment) Regulations 2012 and shall come into operation on 5th December 2012.
Amendment of regulation 4
2.  Regulation 4 of the Education Endowment and Savings Schemes (Post-Secondary Education Scheme) Regulations (Rg 3) (referred to in these Regulations as the principal Regulations) is amended —
(a)by inserting, immediately after the word “person”, the words “who is born before 1st January 2006”; and
(b)by renumbering the regulation as paragraph (1) of that regulation, and by inserting immediately thereafter the following paragraph:
“(2)  A person who is born on or after 1st January 2006 shall become a member of the PSE Fund by virtue of section 16B of the Act if, in addition to being a citizen of Singapore —
(a)he is eligible for the co-savings arrangement and, as at 31st December in the year in which the twelfth anniversary of his date of birth falls —
(i)no Child Development Account has been opened for him; or
(ii)the aggregate amount of all co-payment contributions by the Government to his Child Development Account under regulation 6(2) of the Child Development Co-Savings Regulations has not reached the maximum payable under regulation 6(3) of those Regulations;
(b)immediately before 1st January in the year in which the thirteenth anniversary of his date of birth falls, there are moneys standing to his credit in his Child Development Account which are liable to be transferred under regulation 10(2)(a) of the Child Development Co-Savings Regulations;
(c)the trustee of his Child Development Account has made an election in accordance with regulation 10(3B)(a) of the Child Development Co-Savings Regulations and —
(i)the aggregate amount of all co-payment contributions by the Government to his Child Development Account under regulation 6(2) of those Regulations has not reached the maximum payable under regulation 6(3) of those Regulations; or
(ii)there are moneys standing to his credit in his Child Development Account which are liable to be transferred under regulation 10(3C)(a) of those Regulations;
(d)there is a sum standing to his credit in his Edusave account which is liable to be transferred under section 13(2) or (3) of the Act; or
(e)he is eligible for any cash grant referred to in section 16A(1)(e) of the Act.”.
Amendment of regulation 5
3.  Regulation 5 of the principal Regulations is amended —
(a)by deleting the words “regulation 4(a)(i)” in paragraph (1)(a) and substituting the words “regulation 4(1)(a)(i)”;
(b)by deleting the word “or” at the end of paragraph (1)(a);
(c)by deleting the words “regulation 4(a)(ii)” in paragraph (1)(b) and substituting the words “regulation 4(1)(a)(ii)”;
(d)by deleting the full-stop at the end of paragraph (1)(b)(ii) and substituting a semi-colon;
(e)by inserting, immediately after sub-paragraph (b) of paragraph (1), the following sub-paragraphs:
“(c)in a case where the member satisfies the requirements under regulation 4(2)(a)(i), the relevant amount specified in Part III of the First Schedule corresponding to both the member’s birth order and the time he becomes a citizen of Singapore; or
(d)in a case where the member satisfies the requirements under regulation 4(2)(a)(ii) or (c)(i) —
(i)the amount derived from the relevant formula specified in Part IV of the First Schedule corresponding to both the member’s birth order and the time he becomes a citizen of Singapore; or
(ii)if the amount referred to in sub-paragraph (i) is a negative amount, $0.”;
(f)by deleting paragraph (2) and substituting the following paragraph:
“(2)  For the purposes of section 16C(4) of the Act, the maximum amount prescribed, being the maximum amount that the aggregate of —
(a)all contributions made by the Government to the PSE account of an eligible member of the PSE Fund under section 16C(3) of the Act; and
(b)all contributions, if any, made by the Government under the co-savings arrangement to the member’s Child Development Account, if any,
shall not exceed, shall be the relevant amount specified —
(i)in Part I of the Second Schedule corresponding to both the member’s birth order and the time he becomes a citizen of Singapore, in a case where the member satisfies the requirements under regulation 4(1)(a)(i) or (ii); or
(ii)in Part II of the Second Schedule corresponding to both the member’s birth order and the time he becomes a citizen of Singapore, in a case where the member satisfies the requirements under regulation 4(2)(a)(i) or (ii) or (c)(i).”; and
(g)by deleting paragraph (4) and substituting the following paragraphs:
“(4)  For the purposes of section 16C(10) of the Act and this regulation, an eligible member of the PSE Fund is a member of that Fund —
(a)who satisfies the requirements under regulation 4(1)(a)(i) or (2)(a)(i);
(b)in respect of whom the following requirements are satisfied:
(i)the member satisfies the requirements under regulation 4(1)(a)(ii); and
(ii)the trustee of the member’s Child Development Account has not made an election in accordance with regulation 10(3) of the Child Development Co-Savings Regulations (Cap. 38A, Rg 2); or
(c)in respect of whom the following requirements are satisfied:
(i)the member satisfies the requirements under regulation 4(2)(a)(ii) or (c)(i); and
(ii)in a case where the member is born on or after 1st January 2006 but before 1st January 2008, the trustee of the member’s Child Development Account has not made an election in accordance with regulation 10(3A) of the Child Development Co-Savings Regulations.
(5)  For the purposes of paragraph (1), the maximum amount of contributions by or on behalf of a parent of an eligible member of the PSE Fund to the member’s PSE account shall include any contributions made by or on behalf of a parent of the member to the member’s Child Development Account which are subsequently transferred to the member’s PSE account.”.
Deletion and substitution of First Schedule
4.  The First Schedule to the principal Regulations is deleted and the following Schedule substituted therefor:
“FIRST SCHEDULE
Regulation 5(1)
Maximum Amount Of Contributions By
Or On Behalf Of Parent Of Eligible Member Of
Pse Fund To Member’s Pse Account Of Member
Born Before 1st january 2006
Part I
First column
Second column
Member’s birth order
Time when member becomes citizen of Singapore
2nd child
3rd or 4th child
At birth or before 1st anniversary of member’s date of birth
$6,000
$12,000
On or after 1st anniversary of member’s date of birth but before 2nd anniversary thereof
$5,000
$10,000
On or after 2nd anniversary of member’s date of birth but before 3rd anniversary thereof
$4,000
$8,000
On or after 3rd anniversary of member’s date of birth but before 4th anniversary thereof
$3,000
$6,000
On or after 4th anniversary of member’s date of birth but before 5th anniversary thereof
$2,000
$4,000
On or after 5th anniversary of member’s date of birth but before 6th anniversary thereof
$1,000
$2,000
Part II
First column
Second column
Member’s birth order
Time when member becomes citizen of Singapore
2nd child
3rd or 4th child
At birth or before 1st anniversary of member’s date of birth
$6,000 — A
$12,000 — A
On or after 1st anniversary of member’s date of birth but before 2nd anniversary thereof
$5,000 — A
$10,000 — A
On or after 2nd anniversary of member’s date of birth but before 3rd anniversary thereof
$4,000 — A
$8,000 — A
On or after 3rd anniversary of member’s date of birth but before 4th anniversary thereof
$3,000 — A
$6,000 — A
On or after 4th anniversary of member’s date of birth but before 5th anniversary thereof
$2,000 — A
$4,000 — A
On or after 5th anniversary of member’s date of birth but before 6th anniversary thereof
$1,000 — A
$2,000 — A
Maximum Amount Of Contributions By Or On Behalf Of
Parent Of Eligible Member Of Pse Fund To Member’s
Pse Account Of Member Born On Or After 1st january 2006
Part III
First column
Second column
Member’s birth order
Time when member becomes citizen of Singapore
1st child
2nd child
3rd or 4th child
5th or subsequent child
At birth or before 1st anniversary of member’s date of birth
$6,000
$6,000
$12,000
$18,000
On or after 1st anniversary of member’s date of birth but before 2nd anniversary thereof
$5,500
$5,500
$11,000
$16,500
On or after 2nd anniversary of member’s date of birth but before 3rd anniversary thereof
$5,000
$5,000
$10,000
$15,000
On or after 3rd anniversary of member’s date of birth but before 4th anniversary thereof
$4,500
$4,500
$9,000
$13,500
On or after 4th anniversary of member’s date of birth but before 5th anniversary thereof
$4,000
$4,000
$8,000
$12,000
On or after 5th anniversary of member’s date of birth but before 6th anniversary thereof
$3,500
$3,500
$7,000
$10,500
On or after 6th anniversary of member’s date of birth but before 7th anniversary thereof
$3,000
$3,000
$6,000
$9,000
On or after 7th anniversary of member’s date of birth but before 8th anniversary thereof
$2,500
$2,500
$5,000
$7,500
On or after 8th anniversary of member’s date of birth but before 9th anniversary thereof
$2,000
$2,000
$4,000
$6,000
On or after 9th anniversary of member’s date of birth but before 10th anniversary thereof
$1,500
$1,500
$3,000
$4,500
On or after 10th anniversary of member’s date of birth but before 11th anniversary thereof
$1,000
$1,000
$2,000
$3,000
On or after 11th anniversary of member’s date of birth but before 12th anniversary thereof
$500
$500
$1,000
$1,500
Part IV
First column
Second column
Member’s birth order
Time when member becomes citizen of Singapore
1st child
2nd child
3rd or 4th child
5th or subsequent child
At birth or before 1st anniversary of member’s date of birth
$6,000 — A
$6,000 — A
$12,000 — A
$18,000 — A
On or after 1st anniversary of member’s date of birth but before 2nd anniversary thereof
$5,500 — A
$5,500 — A
$11,000 — A
$16,500 — A
On or after 2nd anniversary of member’s date of birth but before 3rd anniversary thereof
$5,000 — A
$5,000 — A
$10,000 — A
$15,000 — A
On or after 3rd anniversary of member’s date of birth but before 4th anniversary thereof
$4,500 — A
$4,500 — A
$9,000 — A
$13,500 — A
On or after 4th anniversary of member’s date of birth but before 5th anniversary thereof
$4,000 — A
$4,000 — A
$8,000 — A
$12,000 — A
On or after 5th anniversary of member’s date of birth but before 6th anniversary thereof
$3,500 — A
$3,500 — A
$7,000 — A
$10,500 — A
On or after 6th anniversary of member’s date of birth but before 7th anniversary thereof
$3,000 — A
$3,000 — A
$6,000 — A
$9,000 — A
On or after 7th anniversary of member’s date of birth but before 8th anniversary thereof
$2,500 — A
$2,500 — A
$5,000 — A
$7,500 — A
On or after 8th anniversary of member’s date of birth but before 9th anniversary thereof
$2,000 — A
$2,000 — A
$4,000 — A
$6,000 — A
On or after 9th anniversary of member’s date of birth but before 10th anniversary thereof
$1,500 — A
$1,500 — A
$3,000 — A
$4,500 — A
On or after 10th anniversary of member’s date of birth but before 11th anniversary thereof
$1,000 — A
$1,000 — A
$2,000 — A
$3,000 — A
On or after 11th anniversary of member’s date of birth but before 12th anniversary thereof
$500 — A
$500 — A
$1,000 — A
$1,500 — A
    For the purposes of Parts II and IV of this Schedule, “A” means the aggregate amount of all co-investment sums deposited into the member’s Child Development Account under regulation 6(1) of the Child Development Co-Savings Regulations (Cap. 38A, Rg 2).”.
Deletion and substitution of Second Schedule
5.  The Second Schedule to the principal Regulations is deleted and the following Schedule substituted therefor:
“SECOND SCHEDULE
Regulation 5(2)
Part I
Maximum Amount Of Aggregate Of
Contributions By Government To Pse Account And
Child Development Account Of Eligible Member Of
Pse Fund Born Before 1st january 2006
First column
Second column
Member’s birth order
Time when member becomes citizen of Singapore
2nd child
3rd or 4th child
At birth or before 1st anniversary of member’s date of birth
$6,000
$12,000
On or after 1st anniversary of member’s date of birth but before 2nd anniversary thereof
$5,000
$10,000
On or after 2nd anniversary of member’s date of birth but before 3rd anniversary thereof
$4,000
$8,000
On or after 3rd anniversary of member’s date of birth but before 4th anniversary thereof
$3,000
$6,000
On or after 4th anniversary of member’s date of birth but before 5th anniversary thereof
$2,000
$4,000
On or after 5th anniversary of member’s date of birth but before 6th anniversary thereof
$1,000
$2,000
Part II
Maximum Amount Of Aggregate Of
Contributions By Government To Pse Account
And Child Development Account Of
Eligible Member Of Pse Fund
Born On Or After 1st january 2006
First column
Second column
Member’s birth order
Time when member becomes citizen of Singapore
1st child
2nd child
3rd or 4th child
5th or subsequent child
At birth or before 1st anniversary of member’s date of birth
$6,000
$6,000
$12,000
$18,000
On or after 1st anniversary of member’s date of birth but before 2nd anniversary thereof
$5,500
$5,500
$11,000
$16,500
On or after 2nd anniversary of member’s date of birth but before 3rd anniversary thereof
$5,000
$5,000
$10,000
$15,000
On or after 3rd anniversary of member’s date of birth but before 4th anniversary thereof
$4,500
$4,500
$9,000
$13,500
On or after 4th anniversary of member’s date of birth but before 5th anniversary thereof
$4,000
$4,000
$8,000
$12,000
On or after 5th anniversary of member’s date of birth but before 6th anniversary thereof
$3,500
$3,500
$7,000
$10,500
On or after 6th anniversary of member’s date of birth but before 7th anniversary thereof
$3,000
$3,000
$6,000
$9,000
On or after 7th anniversary of member’s date of birth but before 8th anniversary thereof
$2,500
$2,500
$5,000
$7,500
On or after 8th anniversary of member’s date of birth but before 9th anniversary thereof
$2,000
$2,000
$4,000
$6,000
On or after 9th anniversary of member’s date of birth but before 10th anniversary thereof
$1,500
$1,500
$3,000
$4,500
On or after 10th anniversary of member’s date of birth but before 11th anniversary thereof
$1,000
$1,000
$2,000
$3,000
On or after 11th anniversary of member’s date of birth but before 12th anniversary thereof
$500
$500
$1,000
$1,500
”.
[G.N. No. S 231/2011]
Made this 3rd day of December 2012.
CHAN LAI FUNG
Permanent Secretary,
Ministry of Education,
Singapore.
[Edun S15-14-002 Vol.15; AG/LLRD/SL/87A/2010/6 Vol. 1]
Singapore Statutes Online
© 2024 Attorney-General's Chambers of Singapore,
Last updated 18 Apr 2024
Singapore Statutes Online is provided by the Legislation Division of the Attorney-General's Chambers of Singapore.