Singapore legislation
Regulation 5
of Care Shield Life and Long-Term Care (Supplement Scheme) Regulations 2020
Regulation 5
Application to withdraw moneys from medisave account
Subregulation 1
A CPF member may apply to the Board to withdraw moneys standing to the credit of the CPF member’s medisave account in the Fund to pay the whole or any part of a supplement premium —
that is payable by the CPF member; or
that the CPF member intends to pay on behalf of any dependant of the CPF member.
Subregulation 2
An application by the CPF member under paragraph (1) must be —
in any form and manner required by the Board; and
supported by any document or information required by the Board.
Subregulation 3
The total amount that the Board may authorise to be withdrawn from the medisave accounts of one or more CPF members under paragraph (1) for the payment of supplement premiums, in respect of one or more supplementary disability insurance policies, must not exceed the sum of $600 per year per relevant insured person.
Subregulation 4
The Board may authorise the withdrawal under paragraph (1) subject to the terms and conditions that the Board may impose on one or both of the following persons:
the CPF member;
the approved insurer to which the withdrawn moneys may be paid.