Singapore legislation
Section 27L
Section 27L
Premium
(1)
Every relevant member must pay a premium of such amount as the Minister may determine, and the Minister may determine different premiums for different classes of relevant members.
(1A)
Where a relevant member has been issued an annuity plan before such time as may be prescribed in the relevant regulations, he or she must, if required by the Board, pay one or more additional premiums, each within such time as the Board may determine and of such amount as the Minister may determine, and the Minister may determine different additional premiums for different classes of relevant members.
(2)
Despite anything in this Act, the Board is entitled to deduct the whole or any part of the premium payable by a relevant member from the amount standing to the relevant member’s credit in his or her retirement account.
(3)
Where any deduction has been made by the Board under subsection (2), the Board must as soon as practicable give to the relevant member a written notice to that effect.
(4)
The Board may permit a relevant member to pay the whole or any part of the premium in such other manner and within such time as the Board may determine.
(5)
Subject to subsection (7) and sections 27N and 27P, where the Board is liable to refund the whole or any part of the premium paid by a relevant member, the Board may pay the amount to be refunded —
into the relevant member’s account in the Fund; or
in such other manner as the Board may determine.
(6)
Subject to subsection (7) and sections 27N and 27P, no amount refunded under subsection (5)(a) is —
liable to be attached, sequestered or levied upon for or in respect of any debt or claim;
subject to any set-off of any nature for any debt owing by the relevant member; or
to pass to the Official Assignee on the bankruptcy of the relevant member.
(7)
The Board is entitled to recover on behalf of the Government any cash grant made by the Government to a relevant member for the payment of the premium, together with any interest which the relevant member is liable to pay the Government under the terms of the cash grant, from any amount which the Board is liable to refund under subsection (5).
(8)
Where a relevant member who has paid in cash any sum towards the premium dies before an annuity plan has been issued to him or her, and the sum does not exceed such amount as the Minister may, by notification in the Gazette, specify —
the Board may pay to a proper claimant the whole or any part, as the Board may determine, of the sum; and
the receipt of the proper claimant is a discharge to the Board for the payment to the proper claimant under paragraph (a).
(9)
Subsection (8) does not affect any recourse which any person may have against a proper claimant for an amount paid to the proper claimant under subsection (8)(a).
(10)
In this section —
Definition
“child” means a legitimate child and includes any child adopted by virtue of an order of court under any written law for the time being in force in Singapore, Malaysia or Brunei Darussalam;
Definition
“parent” includes an adoptive parent;
Definition
“proper claimant” means a person who —
claims to be entitled to a sum referred to in subsection (8) on the death of a relevant member as executor of the deceased relevant member; or
claims to be entitled to a sum referred to in subsection (8) on the death of a relevant member (whether for his or her own benefit or not), and is the widower, widow, child, grandchild, parent, brother, sister, nephew, niece, grandparent, uncle or aunt of the deceased relevant member.