Central Provident Fund Act 1953 · 2020 Revised Edition · Part 3 · Withdrawal of Contributions
15B. Setting aside additional sum
Feedback & supportLast amended by an amending law of 2021. 4 amendments in all.
Before 1 January 2014, a member who is entitled to withdraw the sum standing to the member’s credit in the Fund under section 15(2)(a), (3) or (4) may, in addition to the retirement sum required to be set aside under section 15(6)(a), set aside in accordance with regulations made under this Act, the balance or any part of the balance of the sum which the member is entitled to withdraw under section 15(2)(a), (3) or (4) (called in this section the additional sum).
member
“member of the Fund” or “member” means any person to whose credit any amount is standing in the Fund, or for whom any account in the Fund is maintained for any of the purposes of this Act;
The additional sum set aside under subsection (1) may, before 1 January 2014 —
be deposited with an approved bank; or
be used to purchase an approved annuity from an insurer.
Sections 25 and 25A does not apply to the additional sum set aside under subsection (1).