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 member can be topped-up under section 18 (1)(a), (b) or (c) of the Act —
(a)
shall be the prevailing minimum sum less the member’s net retirement amount; and
[S 537/2012 wef 01/11/2012]
[S 705/2012 wef 01/01/2013]
(b)
shall exclude any portion of the minimum sum applicable to the member which is covered by a charge on or pledge of an immovable property under section 15(9), (9A), (10), (10A), (11D) or (11E), 21, 21A, 21B, 27C(1)(v), 27D(1)(v), 27DA(1)(v), 27E(1)(iv) or 27F(1)(iv) of the Act.
[S 705/2012 wef 01/01/2013]
[S 705/2012 wef 01/01/2013]
(2) For the purposes of these Regulations, the maximum amount which may be transferred from a member’s ordinary account or special account, or both accounts, to his retirement account under section 18A(1) of the Act —
(a)
shall be the prevailing minimum sum less the member’s net retirement amount; and
[S 705/2012 wef 01/01/2013]
(b)
shall exclude any portion of the minimum sum applicable to the member which is covered by a charge on or pledge of an immovable property under section 15(9), (9A), (10), (10A), (11D) or (11E), 21, 21A, 21B, 27C(1)(v), 27D(1)(v), 27DA(1)(v), 27E(1)(iv) or 27F(1)(iv) of the Act.