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]
(2) The Board may grant an application made under paragraph (1) subject to such terms and conditions as the Board may impose.
(3) The Board shall not grant any application made by a member under this regulation if —
(a)
in the case of a member who is below 55 years of age on the date his application is processed, the relevant amount of the member on that date is less than or equal to the prevailing minimum sum in force; and
[S 105/2009 wef 01/04/2009]
(b)
in the case of a member who has attained 55 years of age on the date his application is processed, the relevant amount of the member on that date is less than or equal to the minimum sum applicable to him.