Additional payment from amount deposited with approved bank or retained in retirement account
10A.—(1) A member who is entitled to receive payment under regulation 8A(1) or (3), 9 or 10 may apply to the Board, in such manner as the Board may require, to be paid an additional amount monthly from the member’s balance, which starts on or after the later of the following dates:
(a)
a date (specified by the Board) that falls in the month in which the member attains the applicable age;
(b)
the date on which the Board approves the application.
[S 592/2018 wef 01/10/2018]
(2) If the Board approves a member’s application under paragraph (1), the Board may —
(a)
impose terms and conditions; and
(b)
subject to regulation 10C, pay the member, in accordance with paragraph (1), such amounts as the Board may determine.
[S 592/2018 wef 01/10/2018]
(3) The Board may, starting on or after a date (specified by the Board) that falls in the month in which a member attains the applicable age and without any application by the member under paragraph (1), pay to the member monthly such additional amounts from the member’s balance as the Board may determine.