Singapore legislation
Section 7
Section 7
Contributor retiring under certain laws
(1)
Every contributor who is an entitled officer shall, at his option exercisable as hereinafter provided, be entitled either —
to cease to contribute, in which event his widow or children, as the case may be, shall be entitled on his death to a pension computed on the basis of the interest acquired by such contributor at the date of his ceasing to contribute in accordance with the Rules and Tables set out in the First Schedule;
to make a single contribution calculated in accordance with the Rules and Tables set out in the First Schedule, in which event his widow or children, as the case may be, shall be entitled on his death to a pension computed on the basis of the contributor having contributed for the remainder of the period of 35 years or until he had attained the age of 65 years or, in the event of the contributor dying before the expiration of that period or attaining that age, until the date of his death; or
after furnishing such proof as the Directors may require that his wife is in a normal state of health, to cease to contribute and be paid a sum calculated in accordance with the Rules and Tables set out in the First Schedule in which case the rights of the contributor and of his widow and children shall cease.
(2)
The option shall be exercisable before the expiration of a period of 6 months from the date of the retirement of the contributor or before 31 July 1958, whichever shall be the later.
(3)
The exercise by a contributor of the option shall be irrevocable.
(4)
The option shall be exercisable by written notification addressed to the President.