Central Provident Fund (Revised Minimum Sum Scheme) Regulations

Table of Contents

Part I PRELIMINARY

1 Citation

2 Application

3 Definitions

Part II MAINTENANCE OF MINIMUM SUM

4 Minimum sum required of member

5 Withdrawal at age of 55 years and maintenance of minimum sum by member

6 Exemption from depositing of minimum sum

7 Setting aside of less than 2 times the minimum sum by parties to marriage

8 Topping-up of shortfall in minimum sum during subsequent withdrawals

9 Payment from minimum sum in retirement account or in approved bank at age of 60 or 62 years and thereafter

10 Payment from minimum sum where member has pension, annuity or other benefit or approved annuity

11 Definitions of terms in regulations 9 and 10

12 Computation of balance in minimum sum

Part III GENERAL PROVISIONS

13 Assessing value of immovable property

14 Restriction on mortgage of property

15 Approved bank or approved annuity

16 Use of minimum sum

17 Depositing minimum sum with approved bank

18 Purchase of approved annuity with minimum sum

19 Termination of account with approved bank or surrender of approved annuity

20 Death of member

21 Notional date of birth

22 Procedure for withdrawal of minimum sum

23 Breach of Regulations

FIRST SCHEDULE

SECOND SCHEDULE

THIRD SCHEDULE Multiplying Factor

FOURTH SCHEDULE

Legislative History