Regulation 3C — Central Provident Fund (New Retirement Sum Scheme) Regulations 2004

Subregulation 1

For the purposes of these Regulations, each member has a committed amount that is not transferred to the member’s retirement account towards the maintenance of the member’s retirement sum.

Subregulation 2

The committed amount for a member is calculated in the following manner: (a)in relation to a member who attains 55 years of age on or after 1 July 2004 but before 1 January 2009 —

(i)

in any case where the initial amount is more than 2 times the retirement sum applicable to the member, the sum of —

(A)

the retirement sum applicable to the member; and

(B)

on or after the SAC Start Date, the sum of all additional SA‑related amounts applicable to the member; or

(ii)

in any other case, the sum of —

(A)

the amount which remains standing to the member’s credit in the member’s ordinary, special and medisave accounts immediately after all the amounts to be transferred to the member’s retirement account under regulation 5(1) or (2) (as the case may be) and regulation 5AA(1) (if applicable) have been so transferred, excluding any amount to be retained in the member’s medisave account at that time; and

(B)

on or after the SAC Start Date, the sum of all additional SA‑related amounts applicable to the member;

(b)

in relation to a member who attains 55 years of age on or after 1 January 2009 but before 1 January 2013 —

(i)

in any case where the initial amount exceeds the applicable first amount, the sum of —

(A)

the difference between the applicable first amount and the retirement sum applicable to the member; and

(B)

on or after the SAC Start Date, the sum of all additional SA‑related amounts applicable to the member; or

(ii)

in any other case, the sum of —

(A)

the amount which remains standing to the member’s credit in the member’s ordinary, special and medisave accounts immediately after all the amounts to be transferred to the member’s retirement account under regulation 5(1) or (2) (as the case may be) and regulation 5AA(1) (if applicable) have been so transferred, excluding any amount to be retained in the member’s medisave account at that time; and

(B)

on or after the SAC Start Date, the sum of all additional SA‑related amounts applicable to the member;

(c)

in relation to a member who attains 55 years of age on or after 1 January 2013 — $5,000.

Subregulation 3

In paragraph (2) —

Definition

“additional SA‑related amount”, in relation to a member mentioned in paragraph (2)(a) or (b) to whom any paragraph of the Sixth Schedule applies, means an amount specified as an additional SA‑related amount in that paragraph of the Sixth Schedule;

Definition

“SAC Start Date” has the meaning given by regulation 2 of the Central Provident Fund (Closure of Special Account) Regulations 2025.