Singapore legislation
Regulation 7
of Central Provident Fund (Retirement Sum Plus Scheme) Regulations 2000
Regulation 7
Withdrawal from approved bank
A member who has deposited the additional sum in any account with an approved bank and who attains the retirement age of 60 or 62 years (as the case may be) is entitled to withdraw from the additional sum deposited in each account with the approved bank (until the additional sum is exhausted or the member’s death, whichever is the earlier) —
(a)
if the member has attained 55 years of age before 1 July 2004, the higher of —
(i)
the sum calculated in accordance with the following formula:
(ii)
the subsistence amount; or
(b)
if the member has attained 55 years of age on or after 1 July 2004, a monthly payout as determined by the Board.