Definitions and abbreviations for purposes of regulations 8A, 9 and 10
11.  For the purposes of regulations 8A, 9and 10 —
“applicable age”, in relation to a member, means —
(a)the age of 60 years, in the case of a member who —
(i)attains the age of 55 years before 1st January 1999; or
(ii)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;
“specified monthly payment”, in relation to a member, means an amount computed in accordance with the formula “230C/30,000”, where C is the amount of his minimum sum deposited with an approved bank or in his retirement account under section 15(6C)(b)(i) of the Act.