On 26/05/2013,
you requested for the version in force on 26/05/2013
incorporating all amendments published on or before 26/05/2013.
The closest version currently available is that of 01/07/1999.
No. S 298
Central Provident Fund Act
Central Provident Fund (Revised Minimum Sum Scheme) (Amendment) Regulations 1999
In exercise of the powers conferred by section 77(1)(n) of the Central Provident Fund Act, the Minister for Manpower, after consultation with the Central Provident Fund Board, hereby makes the following Regulations:
1. These Regulations may be cited as the Central Provident Fund (Revised Minimum Sum Scheme) (Amendment) Regulations 1999 and shall come into operation on 1st July 1999.
2. Regulation 8(1) of the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2) (referred to in these Regulations as the principal Regulations) is amended by deleting the words ’’at the age of 55 years’’ in the 2nd and 3rd lines.
3. Regulation 9 (3) of the principal Regulations is amended by deleting sub-paragraph (b) and substituting the following sub-paragraph:
’’( b) 230 (M-S)/30,000 x [1 + (i/100)] x [1 + (j/100)] | |
where the member or spouse is entitled to receive the specified monthly payment referred to in paragraph (1) upon attaining the age of 62; | |
where i | is the inflation rate for the calendar year 6 months immediately preceding the date on which the member attains the age of 55; |
j is the inflation rate for the calendar year 6 months immediately preceding the date on which the member attains the age of 56; and | |
where i or j is in the negative, i or j will be computed as zero.’’. | |
4. Regulation 10 (2) of the principal Regulations is amended by deleting sub-paragraph (b) and substituting the following sub-paragraph:
’’(b) 230R/30,000 x [1 + (i/100)] x [1 + (j/100)] | |
where the member is entitled to receive the specified monthly payment referred to in regulation 9 (1) upon attaining the age of 62; | |
where i | is the inflation rate for the calendar year 6 months immediately preceding the date on which the member attains the age of 55; |
j is the inflation rate for the calendar year 6 months immediately preceding the date on which the member attains the age of 56; and | |
where i or j is in the negative, i or j will be computed as zero.’’. | |
5. Regulation 10A (a) of the principal Regulations is amended by deleting sub-paragraph (ii) and substituting the following sub-paragraph:
’’(ii) 230C/30,000 x [1 + (i/100)] x [1 + (j/100)] | |
where the member is entitled to receive the specified monthly payment referred to in regulation 9 (1) upon attaining the age of 62; | |
where i | is the inflation rate for the calendar year 6 months immediately preceding the date on which the member attains the age of 55; |
j is the inflation rate for the calendar year 6 months immediately preceding the date on which the member attains the age of 56; and | |
where i or j is in the negative, i or j will be computed as zero;’’. | |
[G.N. Nos. S 348/98; S 651/98]
[ML S5.2R/85 V2; AG/LEG/SL/36/97/7 Vol. 1]