Singapore legislation

Clause 4

of Central Provident Fund (Amendment) Bill

Clause 4

Amendment of section 13B

Section 13B of the principal Act is amended by deleting subsection (3) and substituting the following subsection:“(3) For the purpose of computing the sum referred to in subsection (2) in any year —

(a)

the following amounts shall be included:

(i)

the amount contributed by a person in that year which is obligatory under this Act; and

(ii)

subject to paragraph (b)(ii), any voluntary contribution paid by the employer of that person under section 7(4)(c) in that year; and

(b)

the following amounts shall be excluded:

(i)

any contribution made by a person in that year under sections 73 and 79; and

(ii)

any voluntary contribution made in that year by the employer of that person under section 7(4)(c) specifically for the purposes of that person’s medisave account, where such voluntary contribution does not exceed $1,500.”.

Read in full context — Central Provident Fund (Amendment) Bill →