Transfer to retirement account of moneys credited under section 13C of Act
6.—(1) This regulation applies where moneys are paid to the Fund under the circumstances set out in regulation 2 or 3 of the Central Provident Fund (Prescribed Circumstances under Section 13C) Regulations 2022 and credited under section 13C of the Act to the member’s ordinary account or special account or both.
[S 274/2024 wef 01/04/2024]
(2) The Board must transfer to the member’s retirement account, towards the maintenance of the retirement sum, the lower of the following:
(a)
the shortfall in the retirement sum applicable to the member;
(b)
the amount so credited under section 13C of the Act.