Singapore legislation
Clause 5
Clause 5
Amendment of section 13
Section 13(1) of the principal Act is amended —
by deleting paragraph (h) and substituting the following paragraph:“(h)any sum received by way of commutation of pensions granted under any written law relating to pensions in Singapore or, in the case of any other pension scheme, any sum received by way of commutation of pensions by an individual under such a scheme to the extent of such sum as the Comptroller may determine relating to the period of employment of that individual with the employer before 1st January 1993;”;
by deleting the words “retiring or” in paragraph (i);
by deleting paragraph (j) and substituting the following paragraphs:“(j)sums standing to the account of an individual in the Central Provident Fund or any approved pension or provident fund designated by the Minister under section 39(6)(c) or withdrawn therefrom;
(ja)sums standing to the account of an individual in an approved pension or provident fund (other than the Central Provident Fund or any approved pension or provident fund designated by the Minister under section 39(6)(c)) to the extent of the sum standing to his account as at 31st December 1992 and of such interest on that sum as the Comptroller may determine for the period 1st January 1993 to the date of his retirement and which are withdrawn only upon or after his retirement in accordance with the rules or constitution of the fund;
(jb)any retiring gratuity received by an individual from an approved pension or provident fund (other than the Central Provident Fund or any approved pension or provident fund designated by the Minister under section 39(6)(c)) to the extent of such amount of the gratuity as the Comptroller may determine relating to the period of employment of that individual with the employer before 1st January 1993;”;
by deleting paragraph (x) and substituting the following paragraph:“(x)the income derived by a person resident in Singapore from any pension granted under any written law relating to pensions in Singapore, or from any pension paid under such other pensions scheme as may be approved by the Minister by notification in the Gazette to the extent of such amount of the pension as the Comptroller may determine relating to the period of employment of that person with the employer before 1st January 1993;”; and
by deleting the words “10 years” in paragraph (z) and substituting the words “15 years”.