Singapore legislation

Clause 9

of Central Provident Fund (Amendment) Bill

Clause 9

Amendment of section 27K

Section 27K of the principal Act is amended —

(a)

by deleting subsection (1) and substituting the following subsection:“(1) The Board is authorised to establish and maintain a Lifelong Income Scheme for the purpose of providing, to every relevant member who has an annuity plan that is in force, a monthly income for the remainder of the relevant member’s life, starting in or after the month in which the relevant member attains the relevant age applicable to the relevant member.”; and

(b)

by deleting the words “, after he has attained the relevant age applicable to him, such monthly income as the Minister may determine” in subsection (6) and substituting the words “such monthly income as the Minister may determine, starting in or after the month in which he attains the relevant age applicable to him”.

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