Singapore legislation
Regulation 8
of Central Provident Fund (Revised Retirement Sum Scheme) Regulations 1995
Regulation 8
Topping-up of shortfall in retirement sum during subsequent withdrawals
Subregulation 1
Where a member applies to make a withdrawal after the member attains 55 years of age and has not at the time of withdrawal set aside the retirement sum applicable to the member, the Board must transfer half the amount of moneys standing to the member’s credit in the member’s ordinary account and special account (excluding the amount specified in paragraph (3)) to the member’s retirement account to meet the shortfall in the retirement sum applicable to the member, except where the amount to be transferred is $100 or less.
Subregulation 2
Despite paragraph (1), a member may transfer the whole or part of the amount in the member’s ordinary account (excluding any reserved amount standing to the member’s credit in that account) or special account to the member’s retirement account to meet the shortfall in the retirement sum subject to such terms and conditions as the Board may impose.
Subregulation 3
The amount to be excluded referred to in paragraph (1) is —
the reserved amount standing to the member’s credit in the member’s ordinary account at the relevant time; and
the member’s remaining committed amount, if any.
Subregulation 4
In paragraph (3), “relevant time” means the time of the withdrawal under paragraph (1).