Singapore legislation
Clause 35
Clause 35
Pension schemes, provident fund, etc.
(1)
Subject to the approval of the Minister, the Authority may make rules for the establishment of a scheme or schemes for the payment of pensions, gratuities, provident fund or other superannuation benefits to such employees or classes of employees of the Authority as it may determine, or to their legal personal representatives or dependants, on the death or retirement of such employees from the service of the Authority or on their otherwise leaving the service of the Authority.
(2)
The following provisions shall apply to any scheme established under this section —
no assurance on the life of any contributor under any such scheme, and no moneys or other benefits payable under any such assurance, and no payment made under any such scheme to any person who has been employed by the Authority, shall be assignable or transferable, or liable to be garnished, attached, sequestered or levied upon for or in respect of any debt or claim whatsoever, other than a debt due to the Authority or to the Government;
no contribution by the Authority or its employees made under any such scheme and no interest thereon shall be assignable or transferable or liable to be attached, sequestered or levied upon for or in respect of any debt or claim whatsoever other than a debt due to the Authority or to the Government;
no such contribution or interest shall be subject to the debts of the contributor, nor shall such contribution or interest pass to the Official Assignee on the bankruptcy of such contributor, but, if such contributor is adjudicated a bankrupt or is declared insolvent by a court, such contribution or interest shall, subject to the provisions of this Ordinance, be deemed to be subject to a trust in favour of the persons entitled thereto on the death of the contributor;
the bankruptcy of a contributor shall not affect the making of deductions from the salary of the contributor in accordance with any such scheme, but such deductions shall continue to be made notwithstanding the provisions of any written law, and the portion of salary so deducted shall not be deemed to form part of his after-acquired property; and
subject to the provisions of any such scheme, all moneys paid or payable under any such scheme on the death of a contributor shall be deemed to be subject to a trust in favour of the persons entitled thereto under the will or intestacy of such deceased contributor, or under a nomination in such form as may be prescribed in such scheme, and shall not be deemed to form part of his estate or be subject to the payment of his debts but shall be deemed to be property passing on his death for the purposes of the Estate Duty Ordinance (Cap. 162).
(3)
The Authority in making, under this section, any pension, provident fund or other superannuation rules which affect any person transferred to the service of the Authority under section 16 of this Ordinance shall, in such rules, provide for the payment to such person or his dependants of benefits not less in value than the amount of any pension, provident fund, gratuity or allowance for which such person would have been eligible under the Singapore and Penang Harbour Boards Provident Fund Regulations, the Ports (Singapore Harbour Board) (Pension Scheme) Regulations, 1949, the Harbour Boards Superannuation Schemes Regulations, 1938, the Singapore Harbour Board Regulations governing the Scale of Gratuities payable to employees in receipt of daily or hourly rates of pay, or the Pensions Ordinance, 1956 (Ord. 22 of 1956), had he continued to be in the service of the Singapore Harbour Board or of the Government, as the case may be. Nothing in such rules shall adversely affect any conditions that would have been applicable to such provident fund, pension, gratuity or allowance under such Ordinance or such regulations.