Central Provident Fund Act
(Chapter 36, Section 77(1))
Central Provident Fund (Revised Minimum Sum Scheme) Regulations
Rg 2
G.N. No. S 305/1995

REVISED EDITION 2006
(30th November 2006)
[1st July 1995]
PART I
PRELIMINARY
Citation
1.  These Regulations may be cited as the Central Provident Fund (Revised Minimum Sum Scheme) Regulations.
Application
2.—(1)  Unless otherwise provided, these Regulations shall apply to all members of the Fund who have attained or will attain the age of 55 years on or after 1st July 1995 but before 1st July 2004.
(2)  Where a provision in these Regulations applies to a member who has attained the age of 55 years before 1st July 1995, the minimum sum applicable to that member shall be the minimum sum specified in the First Schedule.
(3)  Where a provision in these Regulations applies to a member who has attained or will attain the age of 55 years on or after 1st July 1995 but before 1st July 2004, the minimum sum applicable to that member shall be the minimum sum specified in the Second Schedule.
(4)  Notwithstanding paragraphs (1), (2) and (3), a member of the Fund to whom section 15(2A), (7B) or (8A) of the Act applies, and who has complied with that provision, need not comply with these Regulations.
Definitions
3.  In these Regulations —
“annuity plan” has the same meaning as in section 27J of the Act;
“applicable member” means a member who is a person referred to in paragraph 3(2)(b), (h), (i), (j) or (k) of the Retirement and Re-employment (Exemption) Notification 2011 (G.N. No. S 560/2011);
[S 706/2012 wef 01/01/2013]
“approved annuity” means an annuity for life, purchased from an insurer, which is approved by the Board;
“approved bank” means any bank approved by the Board;
“bank” has the same meaning as in the Banking Act (Cap. 19);
“committed amount” means the amount which remains standing to the credit of the member in his ordinary, special and medisave accounts immediately after all the amounts to be transferred to his retirement account under regulation 5(1) or (2) (as the case may be) have been so transferred, excluding the amount to be retained in his medisave account at that time;
[S 381/2014 wef 01/06/2014]
“insurer” means any person registered under the Insurance Act (Cap. 142) to carry on insurance business in Singapore ;
[S 394/2009 wef 01/09/2009]
“Lease Buyback Scheme” means a scheme administered by the Housing and Development Board, under which a lessee of an HDB flat who has been approved by the Housing and Development Board to take part in the scheme enters into an agreement with the Housing and Development Board to reduce the term of the lease, in consideration of a sum of money —
(a)which is to be paid in accordance with the terms and conditions of the scheme; and
(b)the whole or part of which may be used for the payment of a premium for an annuity plan under the Scheme;
[S 477/2013 wef 01/08/2013]
“relevant member” and “Scheme” have the same meanings as in section 27J of the Act;
[S 381/2014 wef 01/06/2014]
“reserved amount”, in relation to a member, means such reserved amount referred to in section 15(6)(c) of the Act as may be applicable to that member under the Central Provident Fund (Reserved Amount) Regulations 2014 (G.N. No. S 380/2014).
[S 381/2014 wef 01/06/2014]