Central Provident Fund Act |
Central Provident Fund (Topping-up of Special Account) Regulations 2007 |
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Citation and commencement |
1. These Regulations may be cited as the Central Provident Fund (Topping-Up of Special Account) Regulations 2007 and shall come into operation on 1st January 2008. |
Application |
2. These Regulations shall apply to the transfer or payment of moneys into a special account under section 18(3) of the Act. |
Definitions |
Transfer of member’s moneys to spouse’s or sibling’s special account |
4.—(1) Any member who wishes to transfer an amount of moneys out of the sum standing to his credit in the Fund to the special account of his spouse or sibling under section 18(3)(a) of the Act shall make an application to the Board in such form and supported by such evidence as the Board may require.
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Payment of moneys into spouse’s or sibling’s special account |
5.—(1) Any person, whether a member of the Fund or otherwise, who wishes to pay money into his spouse’s or sibling’s special account under section 18(3)(b) of the Act shall make an application to the Board in such form and supported by such evidence as the Board may require.
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Amount of moneys that may be transferred from member’s ordinary account |
6. Where the Board grants a member’s application to transfer moneys out of his ordinary account to top-up his spouse’s or sibling’s special account, the amount that may be transferred out of his ordinary account for this purpose shall not exceed —
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Amount of moneys by which special account of member’s spouse or sibling can be topped-up |
7.—(1) Subject to section 13B of the Act and regulation 17 of the Central Provident Fund (Self-Employed Persons) Regulations (Rg 25), for the purposes of these Regulations, the maximum amount by which the special account of a person can be topped-up under section 18 (3)(a) or (b) of the Act shall be the prevailing minimum sum less the aggregate of the following amounts on the date the application for the transfer or payment of moneys to his special account is processed:
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Frequency of transfer or payment of moneys to special account |
8. No transfer or payment of moneys shall be made by a person under these Regulations to the same special account more than once in a year, unless otherwise permitted by the Board and subject to such terms and conditions as the Board may impose. |
Application of moneys transferred or paid to special account |
9.—(1) No moneys transferred or paid to a person’s special account under section 18 (3)(a) or (b) of the Act, and no interest paid on any moneys transferred or paid to a person’s special account under section 18 (3)(a) or (b) of the Act, shall be withdrawn except under or for the purposes of section 15 (2A)(a) or (7B)(a), 18A, 19A or 27B of the Act or this regulation.
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Death of member |
10. Subject to section 19A(3) and (4) of the Act, upon the death of a member, any moneys that have been transferred or paid to the member’s special account in accordance with these Regulations (including all such moneys that have been transferred to the member’s retirement account in accordance with section 18 (4), (5) and (6) of the Act) or the balance thereof shall be credited —
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Permanent Secretary, Ministry of Manpower, Singapore. |
[MMS 5.2/85 T1/04; AG/LEG/SL/36/2005/41 Vol. 1] |
(To be presented to Parliament under section 78(2) of the Central Provident Fund Act). |
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