Singapore legislation
Section 4F
Section 4F
Scheme to be met out of INVEST Fund
(1)
There shall be paid into the INVEST Fund —
such sums appropriated from the Consolidated Fund and authorised to be paid into the INVEST Fund by or under any written law to enable that Fund to meet its liabilities under this Act; and
such sum from the Pension Fund established by the Pension Fund Act 1995 as the Minister for Finance may determine as the value of that part of the Pension Fund relating to all those CPIB officers referred to in section 4A(4)(a) who exercise an option in favour of joining the Scheme in accordance with the regulations under section 4A.
(2)
The INVEST Fund comprising moneys referred to in subsection (1) shall be applied to meet the following purposes only:
the payment of any pension, gratuity, allowance, compensation or other like benefit granted under the Scheme;
such other expenses relating to the granting of any pension, gratuity, allowance, compensation or other like benefit under the Scheme and expressly provided by regulations made under this Act to be met from the INVEST Fund.
(3)
The moneys referred to in subsection (1) shall be paid into the INVEST Fund as capital money, and shall not be used to make payment of any dividend under the Scheme.