Central Provident Fund Act |
Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations |
Rg 3 |
G.N. No. S 306/1995 |
REVISED EDITION 2006 |
(30th November 2006) |
[1st July 1995] |
Citation |
1. These Regulations may be cited as the Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations. |
Application |
Definitions |
3.—(1) In these Regulations, unless the context otherwise requires —
|
Transfer of member’s moneys to parent’s, grandparent’s, spouse’s or sibling’s retirement account |
4.—(1) Any member who wishes to transfer an amount of moneys out of the sum standing to his credit in the Fund to the retirement account of his parent, grandparent, spouse or sibling under section 18(1)(a) of the Act shall make an application in such form and supported by such evidence as the Board may require.
|
Payment of moneys into parent’s, grandparent’s, spouse’s or sibling’s retirement account, and voluntary maintenance of sum in retirement account |
5.—(1) Any person, whether a member of the Fund or otherwise, who wishes —
|
Amount of moneys that may be transferred from member’s ordinary account |
6. Where the Board grants a member’s application to transfer moneys out of his ordinary account to top-up his parent’s, grandparent’s, spouse’s or sibling’s retirement account, the amount that may be transferred out of his ordinary account for this purpose shall not exceed —
|
Amount of moneys by which retirement account can be topped-up |
7.—(1) For the purposes of these Regulations, the maximum amount by which the retirement account of a person can be topped-up under section 18 (1)(a), (b) or (c) of the Act —
|
Topping-up of parent’s retirement account upon sale of immovable property by member |
8.—(1) Where a member —
|
9. [Deleted by S 513/2007 wef 01/10/2007] |
Frequency of transfer or payment of moneys to retirement account |
10. No transfer or payment of moneys shall be made by a person under these Regulations to the same retirement account more than once in a year, unless otherwise permitted by the Board and subject to such terms and conditions as the Board may impose. [S 513/2007 wef 01/10/2007] |
Use of moneys transferred or paid to retirement account |
10A.—(1) Any moneys transferred or paid to a person’s retirement account under section 18 (1)(a), (b) or (c) of the Act (including any accrued interest) —
|
Payment from moneys transferred or paid to retirement account or deposited with approved bank |
10B. Where any moneys have been transferred or paid to the retirement account of a person under section 18 (1)(a), (b) or (c) of the Act, or any such moneys have been deposited with an approved bank under regulation 10A(1)(a), those moneys (including any accrued interest) may be withdrawn by him in accordance with such of the following regulations as may be applicable to him:
|
Death of member |
11. Subject to section 19 (3) and (4) of the Act, upon the death of a member, any moneys that has been transferred to or paid to the member’s retirement account in accordance with these Regulations or the balance thereof shall be returned to the account of the person who has made the transfer or payment; and where 2 or more persons have made the transfer or payment, the moneys shall be returned to the accounts of the persons in proportion to the amounts of moneys so transferred or paid. |
Redemption of charge or pledge of immovable property |
12. Where —
|