Central Provident Fund Regulations - Singapore Statutes Online

Central Provident Fund Act

(Chapter 36, Section 77)

Central Provident Fund Regulations

Rg 15

G.N. No. S 313/1987

REVISED EDITION 1998

(1st January 1998)

[1st December 1987]

Citation

1. These Regulations may be cited as the Central Provident Fund Regulations.

Time for payment of contributions

2.—(1) Subject to paragraphs (2) and (3), all contributions to the Fund payable by an employer under section 7(1) of the Act shall be paid to the Board not later than 14 days after the end of the month in respect of which the contributions are payable.

(2) The Board may, in the case of any employer or class or classes of employers, authorise the time for payment to be extended by not more than 7 days.

(3) Where the Board has authorised the withdrawal of the sum of money standing to the credit of a member in the Fund under section 15(2) or (3) of the Act, the Board may require any contributions due in respect of that member to be paid to the Fund by such earlier date as the Board may direct.

Time for payment of interest

3.—(1) Any sum due to the Board by way of interest under section 9 of the Act shall be paid to the Board within 14 days of a demand by the Board for such payment.

(2) Where the Board has recovered any interest in respect of arrears of contributions, the Board shall pay the whole or such part, as the Board may determine, of the interest that would have been payable on the contributions that were received late if those contributions had been paid on the due date.

[S 718/2007 wef 01/01/2008]

Fees and charges

3A.—(1) The fees and charges specified in the second column of the Schedule shall be payable to the Board in respect of the matters set out in the first column thereof.

(2) The Board may, where it considers appropriate, waive wholly or in part any fee or charge specified in the Schedule.

(3) Any fee or charge due to the Board under these Regulations shall be paid to the Board not later than 7 days from the date of the demand by the Board for such payment, and such fee or charge, if remaining unpaid on the expiry of the period of 7 days, shall constitute a debt due to the Board and be recoverable as such.

[S 695/2002 wef 01/04/2003]

Manner of payment of moneys

4. All contributions to the Fund and all fees and charges payable to the Board may be paid —

(a)	in cash at any post office in Singapore duly authorised to receive money on behalf of the Board;
(b)	by money order, postal order or cheque drawn on any bank in Singapore delivered or sent by post to the Board’s office;
(c)	by any electronic means as the Board may permit from time to time, subject to such terms and conditions as the Board may impose in connection with the use of such means; or
(d)	in such other manner as the Board may from time to time authorise in any particular case or class of cases. [S 695/2002 wef 01/01/2003]

Forms

5. All payments of contributions to the Fund shall be accompanied by such duly completed forms as the Board may require for that purpose.

Receipt of payments

6. A receipt or an acknowledgment thereof of any sum paid to the Board on account of contributions to the Fund may be given by the Board or any other person duly authorised to receive such contributions on behalf of the Board.

Unclaimed moneys

7.—(1) Where —

(a)	any amount has been authorised to be paid out of the Fund to any person entitled thereto under section 15, 20, 26 or 27 of the Act and that person has not obtained payment; and
(b)	the amount has not been successfully transferred to that person or the instrument in respect of such payment has been returned to the Board,

the Board shall restore to the member’s account the amount or the value of the instrument as if such amount or value had been restored —

(i)	from the date of the unsuccessful transfer of the amount to the person entitled to the payment; or
(ii)	where the instrument has been returned to the Board, from the date of return of the instrument or date of expiry of the instrument, whichever is earlier,

and the Board shall credit the whole or such part, as the Board may determine, of the interest that would have been payable on the amount restored if that amount had not been debited from the member’s account, in such manner as the Board considers fit.

(2) Where on any day in January in any year any amount is standing to the credit of any member of the Fund in respect of whom no contributions have been received during the period of 10 years immediately preceding such year and it appears to the Board —

(a)	that the member is above the age of 100 years or such other greater age as may be determined by the Board;
(b)	that the member is dead and no claim has been received by the Board from any person entitled thereto for a period of 10 years from the date of death of that member; or
(c)	that the identity and the age of the member is unknown,

the Board shall transfer the amount standing to the credit of that member in the Fund out of his account to the Reserve Account of the Fund.

(3) All amounts that have, before 1st January 2003, been accounted for as unclaimed by the Board shall be transferred to the Reserve Account of the Fund.

(4) If it is established that any condition for the transfer of any amount from a member’s account to the Reserve Account of the Fund has not been complied with, the Board shall restore to the member’s account the amount which has been so transferred and credit the whole or such part, as the Board may determine, of the interest that would have been payable on the amount restored if the transfer had not taken place, in such manner as the Board considers fit.

(5) Where any amount has been transferred to the Reserve Account of the Fund under paragraph (2) or (3), the Board shall, upon the application of any person entitled to the whole or part of the amount, restore to the member’s account the amount which has been so transferred and credit the whole or such part, as the Board may determine, of the interest that would have been payable on the amount restored if the transfer had not taken place, in such manner as the Board considers fit.

(6) Where —

(a)	any amount has been authorised to be paid out of the Fund to any person entitled thereto under section 15, 20, 26 or 27 of the Act and that person has not obtained payment;
(b)	the amount has not been successfully transferred to that person or the instrument in respect of such payment has been returned to the Board; and
(c)	the amount or the value of the instrument has been subsequently transferred to the Reserve Account of the Fund under paragraph (3),

the Board shall, upon the application of any person entitled to the whole or part of the amount, restore to the member’s account the amount as if such amount had been restored —

(i)

from the date of the unsuccessful transfer of the amount to the person entitled to the payment; or

(ii)

where the instrument has been returned to the Board, from the date of return of the instrument or date of expiry of the instrument, whichever is earlier, and the Board shall credit the whole or such part, as the Board may determine, of the interest that would have been payable on the amount restored if that amount had not been debited from the member’s account, in such manner as the Board considers fit.

(7) Except as provided in paragraphs (4), (5) and (6), no interest shall be payable on any amount which has been transferred to the Reserve Account of the Fund and any interest derived from the investment of any such amount shall be included with other income of the Fund.

(8) In this regulation, “instrument” includes any bank draft, warrant or cheque.

(9) For the purposes of paragraphs (1) and (6) —

(a)	any amount paid out of the Fund and unsuccessfully transferred to the person entitled to such payment includes an amount paid out by the inter-bank GIRO or telegraphic transfer; and
(b)	where any amount is or was paid out of the Fund in any foreign currency, the amount or the value of the instrument restored to the member’s account may be more or less than the amount paid out of the Fund. [S 695/2002 wef 01/01/2003]

Refund of excess contributions

8.—(1) Where the Board is satisfied that —

(a)	the amount of voluntary contributions which have been paid into a member’s account in a year exceeds the sum specified in section 13B(2) of the Act; or
(b)	the amount of additional medisave contributions which have been paid by an employer in a year exceeds $1,500,

the Board may refund the excess contributions to the person who had paid the excess contributions into the member’s account

(2) The Board may require the person to whom the excess contributions are to be refunded to furnish to the Board such information as may be necessary for the purposes of determining whether any refund is payable under paragraph (1).

(3) The Board may retain the whole or any part of the excess contributions to be used to set off against any contribution or interest thereon which is due or may become due to the Board.

(4) In this regulation, “additional medisave contributions” means the contributions paid by an employer under section 7(4)(c) of the Act specifically for the purposes of the medisave account of his employee.

[S 367/2003 wef 01/01/2003]

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