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Contents

Part I PRELIMINARY

Part II MAINTENANCE OF MINIMUM SUM

Part III GENERAL PROVISIONS

FIRST SCHEDULE Minimum Sum Applicable

SECOND SCHEDULE

THIRD SCHEDULE

Legislative History

 
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On 22/10/2014, you requested the version in force on 22/10/2014 incorporating all amendments published on or before 22/10/2014. The closest version currently available is that of 01/07/2011.
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Central Provident Fund Act
Central Provident Fund (New Minimum Sum Scheme) Regulations
Rg 31
G.N. No. S 386/2004
REVISED EDITION 2006
(30th November 2006)
[1st July 2004]
PART I
PRELIMINARY
Application
2.
—(1)  Unless otherwise provided, these Regulations shall apply to all members of the Fund who have attained or will attain the age of 55 years on or after 1st July 2004.
(2)  Notwithstanding paragraph (1), a member of the Fund to whom section 15(2A), (7B) or (8A) of the Act applies, and who has complied with that provision, need not comply with these Regulations.
Definitions
3.  In these Regulations, unless the context otherwise requires —
“annuity plan” has the same meaning as in section 27J of the Act;
“applicable age”, in relation to a member, means —
(a)
in the case of a member who is exempted under paragraph 3(e), (o) to (s), (w), (x) or (z) of the Retirement Age (Exemption) Notification (Cap. 274A, N 1), the age of 60 years; or
(b)
in any other case, the relevant age;
“approved annuity” means an annuity for life, purchased from an insurer, which is approved by the Board;
“approved bank” means any bank approved by the Board;
“bank” has the same meaning as in the Banking Act (Cap. 19);
“basic monthly income” means the monthly amount payable to a member under regulation 8A(1), (2) or (3) or 9(2) or (3), as the case may be, from the amount he has set aside as minimum sum;
“insurer” means any person registered under the Insurance Act (Cap. 142) to carry on insurance business in Singapore ;
“interest rate” means the rate per annum for the retirement account that the Board may from time to time declare by notification published in the Gazette under section 6(4) of the Act;
“relevant age”, in relation to a member, means —
(a)
in the case of a member who has attained the age of 58 years on 31st December 2007, the age of 62 years;
(b)
in the case of a member who has attained the age of 56 years but is below the age of 58 years on 31st December 2007, the age of 63 years;
(c)
in the case of a member who has attained the age of 54 years but is below the age of 56 years on 31st December 2007, the age of 64 years; or
(d)
in any other case, the age of 65 years;
“relevant member” and “Scheme” have the same meanings as in section 27J of the Act.