Payment from moneys transferred or paid to retirement account or deposited with approved bank
10B.—(1)  Where any person has attained the age of 55 years on or after 1st January 1987, any moneys transferred or paid to his retirement account under section 18(1)( a), (b) or (c) of the Act which stand to his credit in his retirement account or which have been deposited with an approved bank under regulation 10A(1)( a), including any accrued interest, may be withdrawn by him in accordance with such of the following regulations as may be applicable to him:
(a)the Central Provident Fund (Minimum Sum Scheme) Regulations (Rg 16);
(b)the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2);
(c)the Central Provident Fund (New Minimum Sum Scheme) Regulations (Rg 31).
(2)  Where any person has attained the age of 55 years before 1st January 1987, any moneys transferred or paid to his retirement account under section 18(1)(a), (b) or (c) of the Act which stand to his credit in his retirement account or which have been deposited with an approved bank under regulation 10A(1)(a), including any accrued interest, may be withdrawn by him in accordance with paragraph (3).
(3)  The amount which a person referred to in paragraph (2) shall be entitled to withdraw each month shall be —
(a)$230 from 1st January 1987 to 31st March 1994;
(b)$237 from 1st April 1994 to 31st March 1995;
(c)$243 from 1st April 1995 to 31st March 1996;
(d)$251 from 1st April 1996 to 31st March 1997;
(e)$260 from 1st April 1997 to 31st March 1998;
(f)$266 from 1st April 1998 to 31st March 1999;
(g)$272 from 1st April 1999 to 30th June 2000;
(h)$282 from 1st July 2000 to 30th June 2001;
(i)$287 from 1st July 2001 to 30th June 2002;
(j)$291 from 1st July 2002 to 30th June 2003; and
(k)$297 from 1st July 2003.
[S 395/2009 wef 01/09/2009]