Singapore legislation
Clause 13
Clause 13
Periodic examination of Pension Fund
(1)
For successive periods of such duration, not exceeding 5 years, as the Minister may determine in each case, an examination of the Pension Fund shall be made by a person appointed by the Minister.
(2)
Notwithstanding subsection (1), where an amendment is made —
to the Schedule or to any written law specified in the Schedule; or
to any prescribed superannuation scheme or to any regulations relating to such scheme,and the amendment affects the cost of benefits payable under the law or scheme or creates an initial unfunded liability, the Minister shall, for the purposes of section 4(1)(a), appoint a person to make an examination and report on the state of the Pension Fund.
(3)
The person appointed under subsection (1) or (2) shall, at the end of his examination, report to the Minister the state of the Pension Fund having regard to its prospective liabilities and the probable annual provisions required by the Fund to meet those liabilities.
(4)
The Minister shall cause a copy of every such report to be presented to Parliament forthwith after receipt thereof.