Payment from minimum sum in retirement account or in approved bank at age of 60 or 62 years and thereafter
9.—(1)  Where the amount maintained as the minimum sum by a member is deposited in his retirement account or in an approved bank, the member may, subject to this regulation and regulation 10, on the date on which he attains —
(a)the age of 60 years, in the case of a member who attains the age of 55 years before 1st January 1999, or who is exempted under regulation 3(e), (o) to (s), (w), (x) or (z) of the Retirement Age (Exemption) Notification (Cap. 274A, N 1); or
(b)the age of 62 years, in the case of a member who attains the age of 55 years on or after 1st January 1999 but before 1st July 2004,
and at every monthly interval thereafter, be paid from that amount and any interest accruing thereon, the specified monthly payment subject to a minimum of the subsistence amount set out in the Fourth Schedule until the amount maintained as the minimum sum has been exhausted or until his death, whichever is the earlier.
(2)  Where 2 members of the Fund who are parties to a marriage have set aside jointly an amount which is 1.5 times the minimum sum in accordance with regulation 7, the amount which either member may be paid from the amount the 2 members have set aside jointly on the date on which that member attains —
(a)the age of 60 years, in the case of a member who attains the age of 55 years before 1st January 1999, or who is exempted under regulation 3(e), (o) to (s), (w), (x) or (z) of the Retirement Age (Exemption) Notification (Cap. 274A, N 1); or
(b)the age of 62 years, in the case of a member who attains the age of 55 years on or after 1st January 1999 but before 1st July 2004,
and at every monthly interval thereafter, shall be an amount equal to the specified monthly payment, unless otherwise approved by the Board in any particular case.
(3)  Where 2 members of the Fund who are parties to a marriage have set aside jointly an amount which is 1.5 times the minimum sum in accordance with regulation 7, and either member dies or the members are divorced, the amount that the surviving or each divorced member may be paid from the amount the 2 members have set aside jointly shall, subject to a minimum of the subsistence amount set out in the Fourth Schedule, be computed in accordance with the formula
 
230 (M - S)
 
30,000.
(4)  Where any payment in accordance with this regulation results in a balance in the minimum sum of $100 or less, the Board may permit such balance to be paid together with that payment.