Singapore legislation
Regulation 5
of Central Provident Fund (Education Scheme) Regulations 1989
Regulation 5
Refund of moneys to member’s account
Subregulation 1
Where a member has made any withdrawal under these Regulations for the member himself or herself, the member’s child or the member’s relative to pursue a course of study at an approved educational institution, the member, or the member’s child or relative (as the case may be) must refund to the account of the member in the Fund the amount so withdrawn including the whole or such part, as the Board may determine, of any interest that would have been payable on that amount if the withdrawal had not been made.
Subregulation 2
Where a member, the member’s child or the member’s relative is required to refund to the Board to the account of the member in the Fund under paragraph (1) —
unless the Board otherwise allows in any particular case, the refund is to commence one year after the member, or the member’s child or relative (as the case may be) has completed his or her course of study or, where the member, child or relative does not complete the course of study, one year from the date that member, child or relative leaves the approved educational institution; and
the refund must be made in one lump sum or by instalments either monthly or at other intervals in such manner as the Board may determine over a period not exceeding 12 years or such other period as the Board may allow in any particular case.
Subregulation 3
A member, the member’s child or the member’s relative is not required to refund to the Board any money withdrawn under these Regulations if the Board is satisfied of the occurrence of any of the following events:
the death of —
the member; or
the member’s child or relative in respect of whom the withdrawals were made;
the incapacity of the member’s child or relative in respect of whom the withdrawals were made;
the member is not an applicable person;
if —
the member has applied, in such form as the Board may require, for the repayment to be waived under this sub‑paragraph;
the member is entitled to withdraw the sum standing to the member’s credit in the Fund under section 15(2)(a), (3) or (4), 15AA(1) or 27(2) of the Act and has complied with the requirements for such withdrawal; and
the Board approves the member’s application referred to in sub‑paragraph (i);
where the money was withdrawn under these Regulations by the member for a course of study pursued by the member, the member has withdrawn the sum standing to the member’s credit in the Fund under section 15(3) or (4), 15AA(1) or 27(2) of the Act or section 15(2) of the Act as in force before, on or after 1 April 2024 and has complied with the requirements for such withdrawal.
Subregulation 4
If any of the following charges has been constituted on a member’s immovable property, and the member is not eligible for a waiver of repayment under paragraph (3)(d), the Board may reduce the amount required to be refunded to the account of the member in the Fund under paragraph (1), in whole or in part, up to the amount secured by the charge:
a charge constituted under section 15AB(13) of the Act, or section 15(11EB) of the Act as in force before 1 March 2022;
a charge constituted under section 21C(1)(d) of the Act, where the relevant charge mentioned in section 21C(1)(a) of the Act is —
a charge mentioned in sub-paragraph (a); or
a charge that satisfies sub-paragraph (b).
Subregulation 5
In granting its approval under paragraph (3)(d)(iii), the Board may impose such terms and conditions as it thinks fit.