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 relevant individual’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 a relevant individual 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. [S 537/2012 wef 01/11/2012]
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Transfer of member’s moneys to own retirement account |
4A.—(1) Any member who wishes to transfer an amount of moneys out of the sum standing to his credit in his ordinary account or special account, or in both accounts, to his retirement account under section 18A(1) 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 to relevant individual’s retirement account |
6. Where the Board grants a member’s application to transfer moneys out of his ordinary account to top-up a relevant individual’s retirement account under section 18(1)(a) of the Act, 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 member can be topped-up under section 18 (1)(a), (b) or (c) of the Act —
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Payment of amount secured by charge or pledge upon sale, transfer, assignment or disposal of immovable property |
8.—(1) Where —
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Transfer to retirement account of amount paid upon sale, transfer, assignment or disposal of immovable property, towards maintenance of minimum sum |
9.—(1) Where —
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10. [Deleted by S 537/2012 wef 01/11/2012] |
Use of moneys transferred or paid to retirement account |
10A.—(1) Subject to paragraph (2), any moneys transferred or paid to a member’s retirement account under section 18(1)(a), (b) or (c) of the Act (including any interest paid thereon) or transferred to a member’s retirement account under section 18A(1) of the Act (including any interest paid thereon) may be —
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Payment from moneys standing to person’s credit in retirement account or deposited with approved bank, where person attained age of 55 years on or after 1st January 1987 |
10B. Where any person has attained the age of 55 years on or after 1st January 1987, any moneys which stand to his credit in his retirement account or are deposited with an approved bank under regulation 10A(1)(a) (including any interest accruing thereon) may be withdrawn by him in accordance with such of the following regulations as may be applicable to him:
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Payment from moneys standing to person’s credit in retirement account or deposited with approved bank, where person attained age of 55 years before 1st January 1987 |
10C.—(1) Where any person who has attained the age of 55 years before 1st January 1987 is not a relevant member, and any moneys stand to his credit in his retirement account or are deposited with an approved bank under regulation 10A(1)(a), he may, subject to paragraphs (2), (3), (4), (5) and (6) and regulation 10D, on the date on which he attained the age of 60 years and at every monthly interval thereafter, be paid from those moneys (including any interest accruing thereon) an income of —
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Additional payment from moneys standing to person’s credit in retirement account or deposited with approved bank, where person attained age of 55 years before 1st January 1987 |
10D.—(1) Subject to paragraph (6), a person referred to in regulation 10C(1) may be paid an additional amount, beginning on the date on which he attained the age of 60 years and at every monthly interval thereafter, from the moneys which stand to his credit in his retirement account or are deposited with an approved bank under regulation 10A(1)(a) (including any interest accruing thereon), if —
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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 to the ordinary account from which it was transferred.
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Redemption of charge or pledge of immovable property |
12. Where —
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