Payment from amount deposited with approved bank or in retirement account, where 2 members have set aside jointly 1.5 times the minimum sum
9.—(1)  This regulation applies 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 that amount is deposited under section 15(6C)( b)(i) of the Act —
(a)with an approved bank; or
(b)in either or both of their respective retirement accounts.
[S 394/2009 wef 01/09/2009]
(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 the applicable age 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.
[S 394/2009 wef 01/09/2009]
(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 be the higher of the following:
(a)an amount computed in accordance with the formula “230D/30,000”, where D is the difference between —
(i)the minimum sum applicable to the surviving or divorced member; and
(ii)the shortfall in the minimum sum applicable to the surviving or divorced member; or
(b)the subsistence amount set out in the Fourth Schedule.
[S 394/2009 wef 01/09/2009]
(3A)  For the purposes of this regulation, the monthly amount payable to a member under paragraph (2) or (3), as the case may be, shall be payable to the member until the amount set aside by him (including any interest accruing thereon) has been exhausted or until his death, whichever is the earlier.
[S 394/2009 wef 01/09/2009]
(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.