Central Provident Fund (New Minimum Sum Scheme) Regulations
Table of Contents
Part I PRELIMINARY
1 Citation
2 Application
3 Definitions
Part II MAINTENANCE OF MINIMUM SUM
4 Minimum sum required of member
5 Withdrawal at age of 55 years and maintenance of minimum sum by member
6 Exemption from depositing of minimum sum
7 Setting aside of less than 2 times the minimum sum by parties to marriage
8 Topping-up of shortfall in minimum sum during subsequent withdrawals
8A Payment from amount deposited with approved bank or in retirement account, in general
9 Payment from amount deposited with approved bank or in retirement account, where 2 members have set aside jointly 1.5 times the minimum sum
10 Payment from amount deposited with approved bank or in retirement account, where member has pension, annuity or other benefit or approved annuity
11 Payment from cash component of minimum sum
Part III GENERAL PROVISIONS
12 Assessing value of immovable property
13 Restriction on mortgage of property
14 Approved bank or approved annuity
15 Use of amount referred to in section 15(6C)(b) of Act
16 Depositing amount referred to in section 15(6C)(b) of Act with approved bank
17 Purchase of approved annuity with amount referred to in section 15(6C)(b) of Act
17A Payment of premium for annuity plan under Scheme
18 Termination of account with approved bank or surrender of approved annuity
19 Death of member
20 Notional date of birth
21 Procedure for withdrawal of amount referred to in section 15(6C)(b) of Act, etc.
22 Breach of Regulations
FIRST SCHEDULE Minimum Sum Applicable
SECOND SCHEDULE
THIRD SCHEDULE
Legislative History