Central Provident Fund (Revised Retirement Sum Scheme) Regulations
Table of Contents
Part I PRELIMINARY
1 Citation
2 Application
3 Definitions
Part II MAINTENANCE OF RETIREMENT SUM
4 Retirement sum required of member
5 Withdrawal at age of 55 years and maintenance of retirement sum by member
5A Transfer to retirement account of amount paid upon sale, transfer, assignment or disposal of immovable property, towards maintenance of retirement sum
5B Transfer to retirement account when whole or part of reserved amount no longer required to be set aside
5C Transfer to retirement account of certain moneys credited to ordinary account or special account under section 19 or 19A of Act
5D Transfer to ordinary account of moneys credited to retirement account under section 19 or 19A of Act in excess of retirement sum
6 Retirement sum for member who is receiving or will receive pension, annuity or other benefit
7 Setting aside of less than 2 times the retirement sum by parties to marriage
8 Topping-up of shortfall in retirement sum during subsequent withdrawals
8A Payment from amount deposited with approved bank or retained in retirement account, in general
9 Payment from amount retained in retirement account, where 2 members have set aside jointly 1.5 times the retirement sum
10 Payment from amount deposited with approved bank or retained in retirement account, where member has pension, annuity or other benefit or approved annuity
10A Additional payment from amount deposited with approved bank or retained in retirement account
10B Payment of lower monthly income under regulation 8A(1) or (3), 9, 10 or 10A
10C Payment of monthly income where balance in retirement account is low
10D Manner of payment from amount retained in retirement account
11 Definitions and abbreviations for purposes of regulations 8A, 9, 10 and 10A
12 Payment of cash component of retirement sum
12A Payment from amount retained in retirement account where there is relevant property charge
Part III GENERAL PROVISIONS
13 Assessing value of immovable property
14 Restriction on mortgage of property
14A Payment of amount secured by charge or pledge upon sale, transfer, assignment or disposal of immovable property
15 Approved bank or approved annuity
16 Use of amount referred to in section 15(6C)(a) of Act
17 Amount deposited with approved bank
18 Purchase of approved annuity with amount from retirement account
18A Payment of premium for annuity plan under Scheme
19 Closure of account with approved bank, surrender of approved annuity, etc.
20 Death of member
21 Notional date of birth
22 Applications
23 Breach of Regulations
FIRST SCHEDULE
SECOND SCHEDULE
THIRD SCHEDULE Multiplying Factor
FOURTH SCHEDULE
Legislative History