Care Shield Life and Long-Term Care Act 2019 · 2020 Revised Edition · Part 9 · Careshield Life and Eldershield Insurance Fund and Careshield Life Council
36. Payments from Fund, etc.
Feedback & supportAll payments of benefits (including goodwill sums) and other payments (including any rebate mentioned in subsection (2) and reimbursement of assessors’ fees for disability assessments as determined by the Board) under the CSHL Scheme and ESH Scheme are to be met from the Fund.
rebate
“rebate” means a payment from the Fund that is declared by the Minister under section 36(2);
The Minister may declare the payment of any rebate from the Fund to insured persons to account for the difference between the Fund’s expected experience and actual experience (including claims experience), which is in such proportion and in such manner as the Minister may determine.
Fund
“Fund” means the CareShield Life and ElderShield Insurance Fund established by section 35;
Any costs or expenses incurred in —
the administration or enforcement of the CSHL Scheme and ESH Scheme; and
doing anything incidental to or in connection with the administration or enforcement mentioned in paragraph (a),may be met from the Fund.
The Board may invest the moneys in the Fund in accordance with the standard investment power of statutory boards as defined in section 33A of the Interpretation Act 1965, except that the Board is subject to any general or specific directions from the Minister (instead of the Minister charged with the responsibility for the Board).
Board
“Board” means the Central Provident Fund Board constituted under section 3 of the CPF Act;
The Board and the Administrator are not liable for any payment under the CSHL Scheme or ESH Scheme on or after the transfer date, for any costs or expenses incurred in the administration or enforcement of the CSHL Scheme or ESH Scheme (as the case may be), by reason of anything done, purported to be done, or omitted to be done, by the Board or the Administrator (as the case may be) in good faith and with reasonable care.
CSHL Scheme
“CSHL Scheme” means the severe disability insurance scheme called the CareShield Life Scheme established by section 5;