Amount of money by which member’s own or spouse’s or divorced or widowed parent’s or grandparent’s retirement account can be topped-up
7.—(1) In the case of a transfer or payment by a member to the retirement account of his spouse or his divorced or widowed parent or grandparent, the maximum amount by which that retirement account can be topped up shall be —
(a)
where the recipient is a member immediately before he attains the age of 55 years, the maximum topping-up limit applicable to the recipient under regulation 6 less the regrossed balance of the recipient immediately before he attains the age of 55 years; or
(b)
where the recipient is not a member immediately before he attains the age of 55 years, the maximum topping-up limit applicable to the recipient under regulation 6.
[S 590/2000 wef 28/12/2000]
(2) In the case of a payment by a person who is single, divorced or widowed into his own retirement account, the maximum amount by which the person’s own retirement account can be topped-up shall be —
(a)
where the person is a member immediately before he attains the age of 55 years, the maximum topping-up limit applicable to the person under regulation 6 less his regrossed balance immediately before he attains the age of 55 years;or
(b)
where the person is not a member immediately before he attains the age of 55 years, the maximum topping-up limit applicable to the member under regulation 6.