Amount payable or transferable to member’s own or his parent’s or grandparent’s retirement account where member and spouse, parents or grandparents are married and living
8.  Where the transfer or payment is to —
(a)the retirement account of a parent where both parents are married and living;
(b)the retirement account of a grandparent where both grandparents are married and living; or
[S 590/2000 wef 28/12/2000]
(c)a married person’s own retirement account where his spouse is living,
[S 590/2000 wef 28/12/2000]
the maximum amount by which the retirement account can be topped-up shall be computed in accordance with the formula
1.5L — RB
where
L is —
(i)in a case falling within paragraph (a) or (b), the average of the maximum topping-up limit for each parent or grandparent under regulation 6; or
(ii)in a case falling within paragraph (c), the average of the maximum topping-up limit for the person and his spouse under regulation 6; and
RB is —
(i)in a case falling within paragraph (a) or (b), the sum of both the total regrossed balance for each parent or grandparent immediately before he or she attains the age of 55 years; or
(ii)in a case falling within paragraph (c), the sum of both the total regrossed balance for both the person and his spouse before each of them attains the age of 55 years.