Central Provident Fund (Closure of Special Account) Regulations 2025

No. S 30

Central Provident Fund Act 1953

Central Provident Fund
(Closure of Special Account)
Regulations 2025

In exercise of the powers conferred by section 77(1) of the Central Provident Fund Act 1953, the Minister for Manpower, after consulting with the Central Provident Fund Board, makes the following Regulations:

Citation and commencement

1. These Regulations are the Central Provident Fund (Closure of Special Account) Regulations 2025 and come into operation on 19 January 2025.

Definitions

2. In these Regulations —

“member with a specified significant condition” means a member —

(a)	to whom section 15AA(5) of the Act, or section 15(2A), (7B) or (8A) of the Act as in force before 1 March 2022, applies; and
(b)	who has complied with the requirements of the provision mentioned in paragraph (a) applicable to him or her;

“SAC Start Date” means the date (on or after 19 January 2025), as published on the Board’s Internet website at https://www.cpf.gov.sg, on which the Board starts the closure of special accounts under section 13AA(1) of the Act;

“significant condition” and “specified significant condition” have the meanings given by section 15AA(9) of the Act;

“specified member” means —

(a)	a member who is suffering from a significant condition, whether by reason of being a member with a specified significant condition or otherwise;
(b)	a member to whom section 15AA(3)(b) of the Act applies; or
(c)	a member who has withdrawn the sum standing to the credit of the member under section 15(2)(b) of the Act or under section 15(2)(b) or (c) of the Act as in force before 1 April 2024.

Prescribed circumstances for not closing special account under section 13AA(1) of Act, etc.

3.—(1) For the purpose of section 13AA(1) of the Act, the prescribed circumstances for not closing a member’s special account are any of the following:

(a)

the Board has been notified of the member’s death before the closure of the member’s special account;

(b)

the member’s accounts in the Fund are deemed to be dormant under section 2(1B) of the Act immediately before the closure of the member’s special account;

(c)

as at the date that the member attains the age of 55 years (being a date after the SAC Start Date), the member —

(i)	has withdrawn the sum standing to the credit of the member in the Fund under section 15(2)(b) of the Act or under section 15(2)(b) or (c) of the Act as in force before 1 April 2024, and has not made a full refund of those withdrawn moneys under regulation 2 of the Central Provident Fund (Prescribed Circumstances under Section 13C) Regulations 2022 (G.N. No. S 279/2022); and
(ii)	does not have any moneys standing to the credit of the member in the member’s ordinary, special and medisave accounts.

(2) Paragraph (1)(a) does not prevent the Board from closing the member’s special account if the Board is subsequently satisfied that the notification of death mentioned in paragraph (1)(a) is erroneous.

(3) Paragraph (1)(b) does not prevent the Board from closing the member’s special account if the Board is subsequently satisfied that the member’s accounts in the Fund should no longer be deemed to be dormant.

(4) Paragraph (1)(c) does not prevent the Board from closing the member’s special account if the Board is subsequently satisfied that —

(a)	the member is a citizen or permanent resident of Singapore; or
(b)	any amount of the moneys withdrawn under section 15(2)(b) of the Act or under section 15(2)(b) or (c) of the Act as in force before 1 April 2024, has been refunded under regulation 2 of the Central Provident Fund (Prescribed Circumstances under Section 13C) Regulations 2022 into the member’s account or accounts in the Fund.

Transfers under section 13AA(2) of Act in connection with closure of special account

4. For the purpose of section 13AA(2) of the Act, the transfers to the ordinary account or retirement account (or both) of a member, that are applicable to different classes of members in connection with the closure of a member’s special account, are prescribed in the Schedule.

Prescribed circumstances for payment to ordinary account under section 13AA(4)(b) of Act

5.—(1) For the purpose of section 13AA(4)(b) of the Act, P (as mentioned in that provision) is to be paid to a member’s ordinary account if any of the following circumstances apply:

(a)

P is the whole or part of the proceeds of any sale of units in a unit trust scheme, as described in regulation 28(6)(a) of the Central Provident Fund (Investment Schemes) Regulations (Rg 9), that would have been transferred to the member’s special account under regulation 32(3) of those Regulations if not for its closure;

(b)

P is an amount that the Board would have restored to the member’s special account if not for its closure, when the Board reverses (by reason of error or for any other reason) any of the following transfers or withdrawals:

(i)	a withdrawal from the member’s special account under section 15(2)(a), (3) or (4) of the Act, if the member is not a specified member;
(ii)	a transfer from the member’s special account to the member’s retirement account under regulation 5A of the Central Provident Fund (New Retirement Sum Scheme) Regulations (Rg 31);
(iii)	a withdrawal from the member’s special account under section 20(1)(b) or (1A) of the Act;
(iv)	a transfer from the member’s special account to a medisave account under section 18C or 18D of the Act;

(c)

P is an amount that the Board would have restored to the member’s special account if not for its closure, when the Board reverses a withdrawal from the member’s special account made under section 15AA(1) of the Act (not being a reversal due to the member’s application to cease to be regarded as a member with a significant condition for the purposes of the withdrawal).

Prescribed classes of payments under section 15(1B)(b)(i) of Act

6. For the purpose of section 15(1B)(b)(i) of the Act, the prescribed classes of payments are the withdrawals under any of the following regulations:

(a)	regulation 4B, 4C or 17 of the Central Provident Fund (Approved Housing Schemes) Regulations (Rg 12);
(b)	regulation 4B of the Central Provident Fund (Approved HDB‑HUDC Housing Scheme) Regulations (Rg 14);
(c)	regulation 8 of the Central Provident Fund (Non‑Residential Properties Scheme) Regulations (Rg 10);
(d)	regulation 7 or 8 of the Central Provident Fund (Residential Properties Scheme) Regulations (Rg 6).

Made on 16 January 2025.

NG CHEE KHERN

Permanent Secretary,
Ministry of Manpower,
Singapore.

[RESD/Cross-cutting Policy/CPFSL/2025; AG/LEGIS/SL/36/2020/59]

(To be presented to Parliament under section 78(2) of the Central Provident Fund Act 1953).

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