Central Provident Fund (Permanent Residents — Employees) (Amendment) Regulations 2004

Status:

Published in Subsidiary Legislation Supplement
on 30 Dec 2004

No. S 797

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Permanent Residents — Employees) (Amendment) Regulations 2004

In exercise of the powers conferred by section 77(1)(q) of the Central Provident Fund Act, 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 (Permanent Residents — Employees) (Amendment) Regulations 2004 and shall come into operation on 1st January 2005.

Amendment of regulation 2

2. Regulation 2 of the Central Provident Fund (Permanent Residents — Employees) Regulations (Rg 21, 2004 Ed.) is amended by deleting “(69)” in paragraph (d) and substituting “(70)”.

Amendment of Schedule

3. The Schedule to the Central Provident Fund (Permanent Residents — Employees) Regulations is amended —

(a)

by deleting paragraphs 1 to 4 and substituting the following paragraphs:

“1. Subject to paragraphs 5 to 8, with effect from 1st January 2005, the contributions payable by the employer (at graduated rates) and the amount recoverable from the employee’s wages (at graduated rates) during the first year after the foreign employee becomes a permanent resident are as follows:

2. Subject to paragraphs 5 to 8, with effect from 1st January 2005, the contributions payable by the employer (at graduated rates) and the amount recoverable from the employee’s wages (at graduated rates) during the second year after the foreign employee becomes a permanent resident are as follows:

3. Subject to paragraphs 5 to 8, with effect from 1st January 2005, the contributions payable by the employer (at full rates) and the amount recoverable from the employee’s wages (at graduated rates) during the first year after the foreign employee becomes a permanent resident are as follows

4. Subject to paragraphs 5 to 8, with effect from 1st January 2005, the contributions payable by the employer (at full rates) and the amount recoverable from the employee’s wages (at graduated rates) during the second year after the foreign employee becomes a permanent resident are as follows:

”.

(b)

by deleting “$93,500” in paragraphs 5 and 6 and substituting in each case “$85,000”;

(c)

by deleting “$5,500” in paragraph 7A and substituting “$5,000”;

(d)

by inserting, immediately before the words “55, 60 or 65 years of age” wherever they appear in paragraph 8(a), “50,”; and

(e)

by inserting, immediately before the words “fifty-fifth, sixtieth or sixty-fifth anniversary” in paragraph 8(a), the word “fiftieth,”.

Made this 28th day of December 2004.

YONG YING-I

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMS 9/73 V39; AG/LEG/SL/36/2002/3 Vol. 6]

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

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