Clause 5

The Pension Fund Act (Cap. 224A) is amended by renumbering section 9 as subsection (1) of that section, and by inserting immediately thereafter the following subsection:“(2) The Minister may by warrant under his hand authorise the transfer to the SAVER Fund established under section 205B of the Singapore Armed Forces Act (Cap. 295) such moneys in the Pension Fund as the Minister may determine as the value of that part of the Pension Fund relating to all those servicemen in the Singapore Armed Forces who opted in favour of joining the SAVER Plan established under section 205A of the Singapore Armed Forces Act.”.