Contributions payable in respect of Government employees on SAVER Plan or Premium Plan
5.—(1)  Except as provided in regulation 4(ba), the contributions payable in respect of SAF regular officers and SAF regular soldiers who are members of the SAVER Plan or the Premium Plan shall be in accordance with the rates set out in the Third Schedule.
[S 440/2012 wef 01/09/2012]
(2)  Subject to paragraph (3), any award under the SAVER Plan or the Premium Plan comprising moneys in the SAVER-Premium Fund CPF Top-Up Account of an employee in the Singapore Armed Forces who is a member of the SAVER Plan (whether or not he has reached his SAVER end date) or a member of the Premium Plan shall be credited to his account with the Fund when, other than by reason of death, he is no longer —
(a)in the employment of the Singapore Armed Forces; or
(b)a member of the SAVER Plan or the Premium Plan.
[S 440/2012 wef 01/09/2012]
(3)  The Government may use any award under the SAVER Plan or the Premium Plan comprising moneys in the SAVER-Premium Fund CPF Top-Up Account of an employee referred to in paragraph (2) to set-off against any sum owing by that employee when he —
(a)dies;
(b)is no longer in the employment of the Singapore Armed Forces; or
(c)is no longer a member of the SAVER Plan or the Premium Plan.
(4)  Where an employee referred to in paragraph (2) does not have sufficient funds to maintain the retirement sum required of him in his retirement account with the Fund, any award of moneys from the employee’s Retirement Account under the SAVER Plan or the CARE account of the Premium Plan shall be transferred to his retirement account with the Fund to meet the shortfall in the retirement sum.
[S 659/2016 wef 01/01/2017]
[S 376/2019 wef 10/05/2019]
(5)  In this regulation —
“applicable charge” means any charge or undertaking under section 15(9), (9A), (10), (10A), (11D) or (11E), 21(1), 21A(1), 21B(1), 27C(1)(v), 27D(1)(v), 27DA(1)(v), 27E(1)(iv) or 27F(1)(iv) of the Act that satisfies the requirement in regulation 4B(2) of the Central Provident Fund (Revised Retirement Sum Scheme) Regulations (Rg 2) or regulation 4B(2) of the Central Provident Fund (New Retirement Sum Scheme) Regulations (Rg 31), as the case may be;
“shortfall in the retirement sum”, in relation to the employee, means the amount by which the retirement sum applicable to the employee exceeds the total of the following amounts:
(a)the retirement sum that has been set aside by the employee determined in accordance with regulation 4(1A) or 4A of the Central Provident Fund (Revised Retirement Sum Scheme) Regulations or regulation 4(1A) or 4A of the Central Provident Fund (New Retirement Sum Scheme) Regulations, as the case may be;
(b)the amount of the employee’s applicable charges specified by the Board, not exceeding the maximum amount of the member’s property component under regulation 4(1)(b)(ii) of the Central Provident Fund (Revised Retirement Sum Scheme) Regulations or regulation 4(1)(b)(ii) of the Central Provident Fund (New Retirement Sum Scheme) Regulations, as the case may be.
[S 376/2019 wef 10/05/2019]