Singapore legislation
Section 15B
Section 15B
Setting aside additional sum
(1)
Before 1 January 2014, a member who is entitled to withdraw the sum standing to the member’s credit in the Fund under section 15(2)(a), (3) or (4) may, in addition to the retirement sum required to be set aside under section 15(6)(a), set aside in accordance with regulations made under this Act, the balance or any part of the balance of the sum which the member is entitled to withdraw under section 15(2)(a), (3) or (4) (called in this section the additional sum).
(2)
The additional sum set aside under subsection (1) may, before 1 January 2014 —
be deposited with an approved bank; or
be used to purchase an approved annuity from an insurer.
(3)
Section 25 does not apply to the additional sum set aside under subsection (1).