No. S 393
Central Provident Fund Act
(Chapter 36)
Central Provident Fund (Lifelong Income Scheme) Regulations 2009
In exercise of the powers conferred by section 27Q of the Central Provident Fund Act, the Minister for Manpower hereby makes the following Regulations:
Citation and commencement
1.  These Regulations may be cited as the Central Provident Fund (Lifelong Income Scheme) Regulations 2009 and shall come into operation on 1st September 2009.
Definitions
2.  In these Regulations, unless the context otherwise requires —
“annuity plan”, “premium”, “relevant age”, “relevant member” and “Scheme” have the same meanings as in section 27J of the Act;
“applicable age”, in relation to an annuity plan issued to a relevant member, means —
(a)where the relevant member is not an applicable member, the prescribed age applicable to him under section 15(7) of the Act when the annuity plan is issued, or his age when the annuity plan is issued, whichever is higher; or
(b)where the relevant member is an applicable member —
(i)in any case where the Board is notified (in such manner as the Board may require), before the relevant member attains the age of 60 years, that the member is an applicable member and that an annuity plan has been issued to him, the age of 60 years;
(ii)in any case where the Board is notified (in such manner as the Board may require), after the relevant member attains the age of 60 years and, if his specified age is higher than the age of 60 years, before he attains his specified age, that he is an applicable member and that an annuity plan has been issued to him, his age on the last day of the month immediately following the month in which the Board is so notified, or his age when the annuity plan is issued, whichever is higher; or
(iii)in any other case, the specified age of the relevant member or his age when the annuity plan is issued, whichever is higher;
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“applicable member” means a member who is a person referred to in paragraph 3(2)(b), (h), (i), (j) or (k) of the Retirement and Re-employment (Exemption) Notification 2011 (G.N. No. S 560/2011);
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“Lease Buyback Scheme” means a scheme administered by the Housing and Development Board, under which a lessee of an HDB flat who has been approved by the Housing and Development Board to take part in the scheme enters into an agreement with the Housing and Development Board to reduce the term of the lease, in consideration of a sum of money —
(a)which is to be paid in accordance with the terms and conditions of the scheme; and
(b)the whole or part of which may be used for the payment of a premium for an annuity plan under the Scheme;
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“order of court” and “spouse” have the same meanings as in section 27A of the Act;
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“specified age”, in relation to an applicable member, means —
(a)in the case of a member who attained the age of 55 years before 1st January 1999, the age of 60 years;
(b)in the case of a member who attained the age of 55 years on or after 1st January 1999 but before 1st January 2005, the age of 62 years;
(c)in the case of a member who attained the age of 55 years on or after 1st January 2005 but before 1st January 2007, the age of 63 years;
(d)in the case of a member who attained the age of 55 years on or after 1st January 2007 but before 1st January 2009, the age of 64 years; or
(e)in the case of a member who attains the age of 55 years on or after 1st January 2009, the age of 65 years;
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“working day” means any day other than a Saturday, Sunday or public holiday.
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Notional date of birth
3.  For the purposes of these Regulations, where the date of birth of a relevant member cannot be ascertained or is doubtful, his date of birth shall be deemed to be 1st January of the year in which he was born.
Class of members prescribed for purposes of section 6(4B)(a)(ii) of Act
4.  For the purposes of section 6(4B)(a)(ii) of the Act, the class of members prescribed shall consist of every relevant member who is issued with an annuity plan referred to in item 1, 2, 3, 4 or 5 of the Schedule.
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Age prescribed under section 27K(2)(a) of Act
5.  For the purposes of section 27K(2)(a) of the Act, the age prescribed shall be 55 years.
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Time prescribed for purposes of section 27K(2)(b) of Act
5A.—(1)  For the purposes of section 27K(2)(b) of the Act, the time prescribed shall be —
(a)in the case of any applicable member whom the Board is notified (in such manner as the Board may require, and before the first day of the relevant period) is an applicable member, the first day of the third month preceding the month in which that member attains the age of 60 years;
(b)in the case of any applicable member whom the Board is notified (in such manner as the Board may require, and during the relevant period) is an applicable member, the last working day of the month following the month in which the Board is so notified; and
(c)in the case of any other member, the first day of the third month preceding the month in which the member attains the age of 65 years.
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(2)  For the purposes of this regulation, “relevant period”, in relation to a member, means the period —
(a)beginning on the first day of the fourth month preceding the month in which the member attains the age of 60 years; and
(b)ending on the last day of the fifth month preceding the month in which the member attains the age of 65 years.
[S 816/2010 wef 01/01/2011]
Amount prescribed under section 27K(2)(b)(iii) of Act
5B.  For the purposes of section 27K(2)(b)(iii) of the Act, the amount prescribed shall be —
(a)$40,000, in the case of every member who, on attaining the age referred to in section 27K(2)(a) of the Act and prescribed in regulation 5, satisfies the requirements under section 27K(2)(b)(i) and (ii) of the Act; or
(b)$60,000, in the case of every member who, at such time referred to in section 27K(2)(b) of the Act and prescribed in regulation 5A(1) as may be applicable to him, satisfies the requirements under section 27K(2)(b)(i) and (ii) of the Act.
[S 688/2012 wef 01/01/2013]
Time prescribed for purposes of section 27L(1A) of Act
5C.—(1)  For the purposes of section 27L(1A) of the Act, the time prescribed shall be —
(a)where a relevant member is not an applicable member, the first day of the relevant month; or
(b)where a relevant member is an applicable member —
(i)in any case where the Board is notified (in such manner as the Board may require, and before the first day of the relevant month) that the member is an applicable member, the first day of the relevant month; or
(ii)in any case where the Board is notified (in such manner as the Board may require, and during or after the relevant month but before the first day of the month which is 2 months before the month in which he attains the specified age) that the member is an applicable member, the day immediately preceding the day the Board is notified that he is an applicable member.
(2)  In this regulation, “relevant month” means the month which is 2 months before the month in which the relevant member attains the prescribed age referred to in section 15(7) of the Act.
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Annuity plans and designation of relevant age
6.—(1)  The types of annuity plans available under the Scheme, and the class or classes of relevant members eligible for each type of annuity plan, are as set out in the Schedule.
(2)  A relevant member may apply, in accordance with paragraph (3), for any annuity plan for which the relevant member is eligible.
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(3)  An application under paragraph (2) shall be —
(a)made in such form and supported by such evidence as the Board may require; and
(b)made by a relevant member within such period beginning on the date the Scheme applies to him as the Board may specify by notice in writing to him.
(3A)  The Board may extend the period referred to in paragraph (3)(b) if a relevant member satisfies such terms and conditions as the Board may impose.
[S 542/2012 wef 01/11/2012]
(4)  If a relevant member referred to in section 27K(2) of the Act does not apply, in accordance with paragraph (3), for any annuity plan for which the relevant member is eligible, the annuity plan issued to the relevant member is the LIFE Standard Plan referred to in item 6 of the Schedule.
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(5)  Unless otherwise permitted under these Regulations or by the Board, a relevant member is not entitled to change any annuity plan that has been issued to him under this regulation.
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(5A)  A relevant member’s relevant age is —
(a)subject to sub‑paragraph (b), the age specified in the second column of the Schedule for the annuity plan issued to the relevant member; or
(b)an alternative age designated by the relevant member with the permission of the Board under paragraph (5B).
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(5B)  The Board may, on the application of a relevant member in such form as the Board may require —
(a)with the approval of the Minister, permit the relevant member whose relevant age under paragraph (5A)(a) is higher than the age of 60 years, to designate as the alternative age the age of 60 years; or
(b)permit the relevant member to designate as the alternative age any age which is not lower than the relevant member’s relevant age under paragraph (5A)(a).
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(5C)  If, at the time the Board permits a relevant member to designate the relevant age under paragraph (5A)(b) —
(a)the Board has commenced payments of monthly income to the relevant member under the relevant member’s annuity plan; and
(b)the relevant member has not attained that designated relevant age,
the Board must cease the monthly income payments until the relevant member attains the designated relevant age under paragraph (5A)(b).
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(6)  Subject to paragraph (7) and to such terms and conditions as the Board may impose, a relevant member may apply to the Board for one or more additional annuity plans to be issued to him.
(7)  Unless otherwise permitted by the Board, the annuity plan and every additional annuity plan issued to a relevant member shall be of the same type.
(8)  The Board may permit a relevant member to terminate the annuity plan or any additional annuity plan issued to him, if —
(a)he applies in writing to the Board to do so; and
(b)he satisfies such terms and conditions as the Board may impose.
[S 542/2012 wef 01/11/2012]
Cash grant by Government
7.  Where under section 14 of the Act —
(a)any cash grant has been made by the Government to a relevant member for the payment of a premium; and
(b)the Board has credited that cash grant into such account in the Fund of the relevant member as the Minister may direct,
the Board shall be entitled to deduct the whole or any part of the premium payable by the relevant member from the amount of that cash grant and any interest thereon standing to the credit of the relevant member in that account.
Monthly income
8.—(1)  Subject to section 27K(7) of the Act and regulation 11, the payment of a monthly income to a relevant member under section 27K(6) of the Act shall —
(a)commence in the later of —
(i)the month in which he attains the relevant age; or
(ii)the month following the month in which he becomes a relevant member; and
(b)cease upon his death, or upon the Board being notified (in such manner as the Board may require) of his death, as the Board may determine.
(2)  The Board shall, as soon as practicable, notify a relevant member of the amount of monthly income determined under section 27K(6) of the Act to be payable to him.
(3)  Subject to paragraph (4), the Board shall pay the monthly income due to a relevant member under section 27K(6) of the Act —
(a)into his account with a bank, in any case where he has applied, and the Board has approved his application, for the monthly income to be paid by crediting that bank account;
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(b)by issuing a cheque or any other physical payment instrument to him, in any case where he has applied, and the Board has approved his application, for the monthly income to be paid in that manner;
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(c)into his retirement account, in any case where —
(i)by a memorandum executed in accordance with section 25(1) of the Act, the member has nominated any person to receive that person’s portion of the amount payable on the member’s death out of the Fund in accordance with section 25(1)(a)(iii) of the Act;
(ii)to the best of the Board’s knowledge, that nomination has not been revoked; and
(iii)the member has applied for the monthly income to be paid in that manner; or
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(d)into his ordinary account, in any other case.
(4)  Notwithstanding paragraph (3)(a) and (b), the Board shall pay the monthly income due under section 27K(6) of the Act to the relevant member referred to in paragraph (3) into his ordinary account, if —
(a)in a case referred to in paragraph (3)(a), the payment into the relevant member’s bank account is unsuccessful; or
(b)in a case referred to in paragraph (3)(b), the cheque or other physical payment instrument relating to the payment has been returned to the Board or has expired.
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(5)  Where paragraph (4)(a) or (b) applies, the monthly income shall be paid into the ordinary account of the relevant member referred to in paragraph (3) as soon as practicable after the Board is notified of the unsuccessful payment into the relevant member’s bank account, or after the cheque or other physical payment instrument has been returned to the Board or has expired (whichever is the earlier), as the case may be.
[S 32/2015 wef 31/01/2015]
Withdrawal of amount paid under section 27L(5)(a) of Act
9.  Any amount paid into a relevant member’s account in the Fund under section 27L(5)(a) of the Act may be withdrawn in accordance with the provisions of the Act relating to the transfer or withdrawal of moneys standing to the credit of the relevant member in the Fund.
Potential refund of premium
10.—(1)  Subject to paragraph (2), on the death of a relevant member, the Board shall —
(a)refund the positive difference, if any, between —
(i)the amount of the premium paid by him for an annuity plan; and
(ii)the aggregate amount of the monthly income paid pursuant to the annuity plan; and
(b)pay the amount to be refunded, if any, into his account in the Fund.
[S 542/2012 wef 01/11/2012]
(2)  No refund shall be made under paragraph (1), if the premium was paid for a LIFE Income Plan referred to in item 3 of the Schedule.
(3)  Notwithstanding paragraphs (1) and (2), where the Board has permitted a relevant member to terminate an annuity plan under regulation 6(8), the Board may —
(a)refund the whole or any part of the premium paid by him for the annuity plan; and
(b)pay the amount to be refunded into his account in the Fund, to him in such manner as the Board may determine, or both in such proportion as may be determined by the Board.
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Evidence that relevant member is alive
11.—(1)  For the purposes of section 27K(7) of the Act, the Board may, from time to time, by written notice to a relevant member, require him to satisfy the Board that he is alive.
(2)  Where the Board has issued a written notice under paragraph (1) to a relevant member —
(a)he shall respond to the Board in such form and manner, and within such period, as the Board may specify in the written notice; and
(b)if he fails to comply with sub-paragraph (a), the Board —
(i)may decide that he has failed to satisfy the Board that he is alive; and
(ii)subject to paragraph (3), shall not be required to pay any monthly income to him after the expiry of the period referred to in sub-paragraph (a).
(3)  Where, pursuant to section 27K(7) of the Act, the Board has ceased to pay a relevant member his monthly income, the Board shall resume payment of the monthly income to the relevant member upon his application to the Board in such form, and supported by such evidence, as the Board may require.
Application by spouse under section 27P(1)(b) of Act
12.—(1)  For the purposes of section 27P(1) of the Act, where, under an order of court, the spouse of a relevant member has been awarded any amount to be paid to the relevant member under section 27K(6) or 27L(5) of the Act, an application by the spouse under section 27P(1)(b) of the Act for the Board to pay that amount to the spouse shall be made to the Board in such form as the Board may require.
(2)  The spouse of the relevant member shall furnish, within such time as the Board may specify, such information and documents in support of the application as the Board may require.
Service of documents under section 27P of Act
13.—(1)  Every application to the Board under regulation 12(1) shall be served on the Board —
(a)by leaving the application with any officer or employee of the Board at the office of the Board’s Retirement Withdrawals Department at 238A Thomson Road, #16‑00 Tower A Novena Square, Singapore 307684 —
(i)between 8.30 a.m. and 12 noon on any working day which is the eve of New Year’s Day, Chinese New Year or Christmas Day; and
(ii)between 8.30 a.m. and 5 p.m. on any other working day; or
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(b)in such other manner as may be agreed, prior to the service of the application, between the Board and the applicant.
(2)  For the purposes of section 27P(4)(a) of the Act, an order of court shall be served on the Board —
(a)by leaving a sealed copy of the order of court with any officer or employee of the Board at the office of the Board’s Retirement Withdrawals Department at 238A Thomson Road, #16‑00 Tower A Novena Square, Singapore 307684 —
(i)between 8.30 a.m. and 12 noon on any working day which is the eve of New Year’s Day, Chinese New Year or Christmas Day; and
(ii)between 8.30 a.m. and 5 p.m. on any other working day; or
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(b)in such other manner as may be agreed, prior to the service of the order of court, between the Board and the person on whose behalf the order of court is to be served.
Made this 29th day of August 2009.
LEO YIP
Permanent Secretary,
Ministry of Manpower,
Singapore.
[MMS 3/08 v1; AG/LEG/SL/36/2005/48 Vol. 1]
(To be presented to Parliament under section 78(2) of the Central Provident Fund Act).