Central Provident Fund (New Retirement Sum Scheme) Regulations
Table of Contents
Part I PRELIMINARY
1 Citation
2 Application
3 Definitions
3A Month and deemed date of birth for members born on 29 February
3B Former provisions
3C Committed amount
Part II MAINTENANCE OF RETIREMENT SUM
4 Retirement sum required of member
4A Retirement sum set aside by member with partial or full benefits, or other approved benefit
4B Property component
5 Transfer to retirement account at age of 55 years towards maintenance of retirement sum, etc.
5A Further transfer to retirement account towards maintenance of retirement sum
5AA Transfer to retirement account for payment of additional premiums to increase monthly income under Lifelong Income Scheme
5B Transfer to retirement account of payment in relation to charge or undertaking in respect of immovable property
5C Transfer to retirement account when whole or part of reserved amount no longer required to be set aside
5D Transfer to retirement account of certain moneys credited or refunded to ordinary account or special account
5E Transfer to ordinary account of moneys credited or refunded to retirement account in excess of retirement sum
6 Transfer to retirement account of moneys credited under section 13C of Act
7 Setting aside of less than the aggregate of the retirement sums of both members by parties to marriage
8 Topping-up of shortfall in retirement sum during subsequent withdrawals
8A Payment from amount deposited with approved bank or retained in retirement account, in general
9 Payment from amount retained in retirement account, where 2 members have set aside jointly less than the aggregate of the retirement sums of both members
9A Lump sum payment from amount retained in retirement account on attaining applicable age for members who attain 55 years of age in or after 2012
10 Payment from amount deposited with approved bank or retained in retirement account, where member has pension, annuity or other benefit or approved annuity
10A Additional payment from amount deposited with approved bank or retained in retirement account
10B Payment of lower monthly income under regulation 8A(1) or (3), 9, 10 or 10A
10C Payment of monthly income where balance in retirement account is low
10D Manner of payment from amount retained in retirement account
11 Payment from retirement sum
11A Payment from amount retained in retirement account where there is relevant property charge
Part III GENERAL PROVISIONS
12 Assessing value of immovable property
13 Restriction on mortgage of property
13A Payment of amount secured by charge or undertaking
14 Approved bank or approved annuity
15 Use of amount referred to in section 15(6C)(a) of Act
16 Amount deposited with approved bank
17 Purchase of approved annuity with amount from retirement account
17A Payment of premium for annuity plan under Scheme
18 Closure of account with approved bank, surrender of approved annuity, etc.
19 Death of member
20 Notional date of birth
21 Applications
22 Breach of Regulations
Legislative History