Regulation 3

for the purposes of section 15AA(2)(b) or (3)(b) of the Act or a former provision; or

to be taken into account in computing the retirement sum that has been set aside, for the purposes of these Regulations;“benefit component”, in relation to a member with partial benefits at any time, means an amount computed in accordance with the formula (P ÷ Q) × R, where —

P is the monthly income that the member is receiving or will receive from all of the member’s approved benefits based on information available to the Board at that time;

Q is the payout benchmark applicable to the member; and

R is the retirement sum applicable to the member;“committed amount” has the meaning given by regulation 3B;“determined amount” means the determined amount —

paid to a member under section 15(7A)(a) of the Act; or

transferred to a member’s retirement account under section 15(7A)(b) of the Act,as the case may be;“insurer” means any person registered under the Insurance Act 1966 to carry on insurance business in Singapore;[Deleted by S 157/2026 wef 01/04/2026]“member with full benefits” means a member who, pursuant to section 15AA(3)(b) of the Act or a former provision, does not need to comply with section 15(6)(a) of the Act by reason of the member’s approved benefits;“member with partial benefits” means a member whose approved benefits provide the member with a monthly income that is less in value than the payout benchmark applicable to the member;“member’s balance” means the amount mentioned in section 15(6C)(a) of the Act, and any interest accruing on that amount, standing to the credit of the member;“property component” means the amount of the applicable charges specified by the Board under regulation 4B;“relevant member” and “Scheme” have the meanings given by section 27J of the Act;“relevant property charge” means —

a charge under section 21(1), 21A(1), 21B(1), 27E(1)(h) or 27F(1)(h) of the Act; or

a continued charge constituted under section 21C(1)(d) of the Act, where the relevant charge mentioned in section 21C(1)(a) of the Act in relation to the continued charge is —

a charge mentioned in paragraph (a); or

another continued charge that satisfies this paragraph;“relevant transaction” has the meaning given by section 21E(1) of the Act read with regulation 19 of the Central Provident Fund Regulations 1987;“remaining committed amount”, in relation to a member, means the amount (if any) by which the committed amount exceeds the total amount that the member has withdrawn, from the sum standing to the member’s credit in the Fund, under section 15(2)(a), (3) or (4)(a) of the Act;“reserved amount”, in relation to a member, means such reserved amount mentioned in section 15(6)(c) of the Act as may be applicable to that member under the Central Provident Fund (Reserved Amount) Regulations 2014;“section 21C(1) charge A” means a continued charge constituted under section 21C(1)(d) of the Act, where the relevant charge mentioned in section 21C(1)(a) of the Act in relation to the continued charge is —

a charge under section 15AB(1), (2), (10), (11) or (13) of the Act or a former provision; or

another section 21C(1) charge A;“section 21C(1) charge B” means a continued charge constituted under section 21C(1)(d) of the Act, where the relevant charge mentioned in section 21C(1)(a) of the Act in relation to the continued charge is —

a charge under section 21(1), 21A(1) or 21B(1) of the Act; or

another section 21C(1) charge B;“section 21C(1) charge C” means a continued charge constituted under section 21C(1)(d) of the Act, where the relevant charge mentioned in section 21C(1)(a) of the Act in relation to the continued charge is —

a charge under section 27C(1)(i), 27D(1)(j)(ii), 27DA(1)(i) or 27DB(2)(e) of the Act; or

another section 21C(1) charge C;“section 21C(1) charge D” means a continued charge constituted under section 21C(1)(d) of the Act, where the relevant charge mentioned in section 21C(1)(a) of the Act in relation to the continued charge is —

a charge under section 27E(1)(h) or 27F(1)(h) of the Act; or

another section 21C(1) charge D;“section 21C(2) undertaking A” means an undertaking deemed to be given under section 21C(2) of the Act, where the relevant undertaking mentioned in section 21C(2)(a) of the Act in relation to the deemed undertaking is —

an undertaking under section 15AB(3) or (4) of the Act or a former provision;

a section 21D(1) undertaking A; or

another section 21C(2) undertaking A;“section 21C(2) undertaking B” means an undertaking deemed to be given under section 21C(2) of the Act, where the relevant undertaking mentioned in section 21C(2)(a) of the Act in relation to the deemed undertaking is —

an undertaking under section 27D(1)(j)(i) of the Act;

a section 21D(1) undertaking B; or

another section 21C(2) undertaking B;“section 21D(1) undertaking A” means an undertaking deemed to be given under section 21D(1) of the Act, where the relevant undertaking mentioned in that provision in relation to the deemed undertaking is —

an undertaking under section 15AB(3) or (4) of the Act or a former provision;

a section 21C(2) undertaking A; or

another undertaking deemed to be given under section 21D(1) of the Act, where the relevant undertaking mentioned in that provision in relation to the deemed undertaking is an undertaking mentioned in paragraph (a) or (b);“section 21D(1) undertaking B” means an undertaking deemed to be given under section 21D(1) of the Act, where the relevant undertaking mentioned in that provision in relation to the deemed undertaking is —

an undertaking under section 27D(1)(j)(i) of the Act;

a section 21C(2) undertaking B; or

another undertaking deemed to be given under section 21D(1) of the Act, where the relevant undertaking mentioned in that provision in relation to the deemed undertaking is an undertaking mentioned in paragraph (a) or (b);“shortfall in the retirement sum applicable to the member” means the amount by which the retirement sum applicable to the member exceeds the total of the following amounts:

the retirement sum that has been set aside by the member determined in accordance with regulation 4(2) or 4A, as the case may be;

the property component, if any.