Education Service Incentive Payment (CONNECT Plan) (Amendment) Regulations 2023

Status:

Published in Subsidiary Legislation Supplement
on 15 Dec 2023

No. S 846

Education Service Incentive Payment Act 2001

Education Service Incentive Payment
(CONNECT Plan) (Amendment)
Regulations 2023

In exercise of the powers conferred by section 3(1) of the Education Service Incentive Payment Act 2001, the Minister for Education makes the following Regulations:

Citation and commencement

1. These Regulations are the Education Service Incentive Payment (CONNECT Plan) (Amendment) Regulations 2023 and come into operation on 15 December 2023.

Amendment of regulation 9

2. In the Education Service Incentive Payment (CONNECT Plan) Regulations (Rg 1) (called in these Regulations the principal Regulations), in regulation 9 —

(a)

replace paragraph (3) with —

“(3) Subject to the provisions of these Regulations, an award to a member in any year from 1 January 2023 under paragraph (1) must not exceed the amount that is to be computed in accordance with the formula:

where —

(a)	A is the percentage specified in the second column of the Second Schedule opposite the length of service of that member on 1 January of the year the award is granted; and
(b)	B is the amount of contributions standing to the credit of the member in the member’s account on the date immediately before the award is granted.”; and

(b)

delete paragraph (5).

Amendment of regulation 16

3. In the principal Regulations, in regulation 16 —

(a)	delete paragraphs (1), (2) and (5);
(b)	in paragraph (3), replace “paragraphs (4) and (5)” with “paragraph (4)”; and
(c)	in paragraph (6), delete “or (5)”.

Replacement of Second Schedule

4. In the principal Regulations, replace the Second Schedule with —

“SECOND SCHEDULE

Regulations 9(1) and (3) and 17

awards

First column

Second column

Length of service
on 1 January 2023
or 1 January every
subsequent year

Category A
member of the
old scheme

Category B
member of the
old scheme

Category C
member

4 years

60%

80%

7 years

75%

80%

10 years

80%

15 years

80%

20 years

80%

25 years

80%

30 years

100%

”.

[G.N. Nos. S 673/2003; S 725/2006; S 468/2007; S 442/2008; S 779/2015; S 539/2018; S 860/2020; S 861/2020; S 448/2022; S 996/2022]

Made on 10 December 2023.

LAI CHUNG HAN

Permanent Secretary,
Ministry of Education,
Singapore.

[EDUN.C-03-42-204-V1; AG/LEGIS/SL/87B/2020/2 Vol. 1]

Search within Legislation