| Central Provident Fund Act |
| Central Provident Fund (Medisave Account Transfers) Regulations 2016 |
|
| Citation and commencement |
| 1. These Regulations are the Central Provident Fund (Medisave Account Transfers) Regulations 2016 and come into operation on 1 January 2017. |
| Definitions |
2. In these Regulations —
|
| Transfer to special account or ordinary account of member below 55 years of age |
| Transfer to retirement account of member who has attained 55 years of age on or after 1 July 1995 |
4.—(1) This regulation applies if, when there is an excess amount in a member’s medisave account —
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| Transfer to retirement account of authorised member |
5.—(1) This regulation applies if, when there is an excess amount in an authorised member’s medisave account —
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| Transfer to ordinary account in other cases |
| 6. If regulations 3, 4 and 5 do not apply, the Board must transfer the excess amount in a member’s medisave account to the member’s ordinary account. |
| Revocation |
| 7. The Central Provident Fund (Medisave Account Transfers) Regulations (Rg 34) are revoked. |
Permanent Secretary, Ministry of Manpower, Singapore. |
| [MMS 7/68 V58; AG/LEGIS/SL/36/2015/14 Vol. 1] |
| (To be presented to Parliament under section 78(2) of the Central Provident Fund Act). |