Purchase of approved annuity with minimum sum
17.—(1)  Where a member elects to use the amount deposited as the minimum sum to purchase an approved annuity from an insurer, the Board shall, at the request of the member, forward to the insurer in payment for such purchase —
(a)the whole or part of the amount maintained as the minimum sum and any top-up made to meet the shortfall under regulation 8 or under the Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations (Rg 3); and
(b)where the purchase price of the approved annuity exceeds the amount referred to in paragraph (a), any interest accrued on such amount.
[S 387/2004 wef 01/07/2004]
(2)  Any payment from the approved annuity shall be determined in accordance with the terms and conditions of the approved annuity.