On 23/05/2013,
you requested for the version in force on 23/05/2013
incorporating all amendments published on or before 23/05/2013.
The closest version currently available is that of 01/06/2012.
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
1. These Regulations may be cited as the Central Provident Fund (New Minimum Sum Scheme) Regulations.
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.
3. In these Regulations, unless the context otherwise requires —
“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 income payable to a member under regulation 8A(1), (2) or (3) or 9(2) or (3), as the case may be, from the amount of his minimum sum deposited with an approved bank or in his retirement account under section 15(6C)(b)(i) of the Act (including any interest accruing thereon);
“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.