Minimum sum for member who is receiving or will receive pension, annuity or other benefit
6.—(1)  If the Board is satisfied that a member is receiving or will receive such pension, annuity or other benefit as may be approved by the Board which will provide the member with a minimum monthly income of an amount that is not less in value than the basic monthly income, the member need not comply with section 15(6)(a) of the Act by reason of section 15(8)(e) of the Act.
[S 849/2013 wef 01/01/2014]
[S 441/2014 wef 01/07/2014]
(2)  If the Board is satisfied that a member is receiving or will receive such pension, annuity or other benefit as may be approved by the Board which will provide the member with a minimum monthly income of an amount that is less in value than the basic monthly income, then notwithstanding regulation 4(1), the minimum sum applicable to the member shall be the required retention amount less the sum of any amounts which the member has been paid under regulation 8A(1), (2) or (3), 10 or 10A before the determination of the required retention amount.
[S 849/2013 wef 01/01/2014]
[S 441/2014 wef 01/07/2014]
(3)  For the purposes of this regulation —
(a)the basic monthly income for the member shall be computed in accordance with the formula ;
[S 441/2014 wef 01/07/2014]
(b)the required retention amount for the member shall be computed in accordance with the formula ; and
[S 441/2014 wef 01/07/2014]
(c)the Board —
(i)shall determine the minimum monthly income provided or to be provided to a member by that member’s pension, annuity or other benefit from any information it may have; and
(ii)may, if it has information of the fixed minimum monthly income provided or to be provided by that member’s pension, annuity or other benefit, take that fixed minimum monthly income to be the minimum monthly income provided or to be provided to the member by that pension, annuity or other benefit.
[S 441/2014 wef 01/07/2014]
(4)  For the purposes of paragraph (3), the following abbreviations are used:
I    is the basic monthly income of the member computed in accordance with paragraph (3)(a);
M  is the minimum sum applicable to the member; and
P   is the minimum monthly income that the pension, annuity or other benefit provides or will provide to the member.
[S 441/2014 wef 01/07/2014]
[S 849/2013 wef 01/01/2014]