Singapore legislation
Regulation 11
of Central Provident Fund (Retirement Sum Scheme) Regulations 1988
Regulation 11
Purchase of approved annuity with amount from retirement account
Subregulation 1
Where a member elects to use the amount mentioned in section 15(6C)(a) of the Act to purchase an approved annuity from an insurer, the Board must, at the request of the member, forward to the insurer in payment for such purchase —
the whole or any part of that amount and any top‑up made to meet the shortfall under the Central Provident Fund (Retirement Sum Topping‑Up Scheme) Regulations 1995; and
where the purchase price of the approved annuity exceeds the amount mentioned in sub‑paragraph (a), any interest accrued on that amount.
Subregulation 2
Any payment from the approved annuity is to be determined in accordance with the terms and conditions of the approved annuity.