Central Provident Fund Act 1953 · 2020 Revised Edition · Part 3 · Withdrawal of Contributions
18A. Transfer of member’s moneys in ordinary account or special account to retirement account
Feedback & supportLast amended by an amending law of 2016. 2 amendments in all.
The Board may, subject to any regulations made under section 77(1)(o) and such terms and conditions as it may impose, permit a member who has less than the prescribed amount standing to the member’s credit in his or her retirement account to transfer a sum (not exceeding such amount as may be prescribed in those regulations) standing to the member’s credit in his or her ordinary account or special account, or in both accounts, to his or her retirement account.
Board
“Board” means the Central Provident Fund Board constituted under section 3;
All moneys transferred to a retirement account under subsection (1) must be applied in accordance with any regulations made under section 77(1)(o) and such terms and conditions as the Board may impose.
retirement account
“retirement account” means a retirement account —(a)maintained for the crediting, transfer and payment to the account of moneys or contributions in accordance with this Act; and(b)from which withdrawals, transfers and deductions may be made in accordance with this Act;
In this section, “prescribed amount” means an amount prescribed by regulations made under section 77(1)(o).