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 —
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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.
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Payment of moneys into retirement account, and voluntary maintenance of sum in retirement account |
5.—(1) Any person, whether a member of the Fund or otherwise, who wishes —
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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 —
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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 —
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Topping-up of parent’s retirement account upon sale of immovable property by member |
8.—(1) Where a member —
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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) —
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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:
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Death of member, or withdrawal by member under section 15(2)(b ) or (c) of Act |
11.—(1) Subject to section 19(3) and (4) of the Act, where any moneys have been transferred to a member’s retirement account under section 18(1)(a) or (2)(a) of the Act and in accordance with these Regulations, upon the death of the member, or upon the withdrawal of any sum from the Fund by the member under section 15(2)(b) or (c) of the Act, the moneys so transferred or the balance thereof shall be credited —
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Redemption of charge or pledge of immovable property |
12. Where —
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