Singapore legislation
Clause 16
Clause 16
Deficiencies
(1)
Subject to subsection (2), where the moneys in the Fund are insufficient to pay any pension, gratuity, allowance, compensation or other like benefit at the time when such payment becomes due under the INVEST Plan, the deficiency shall be charged on and payable out of the Consolidated Fund.
(2)
Subsection (1) shall apply only to any pension, gratuity, allowance, compensation or other like benefit —
(a)
in respect of any uniformed service officer referred to in section 4(1)(a) who opts to join the INVEST Plan; or (b)prescribed under any written law enacted on or after the commencement of the regulations made under section 3.