Education Endowment and Savings Schemes Act 1992 · 2020 Revised Edition · Part 3B · Withdrawal from Pse Fund
27. Moneys payable on death of member of PSE Fund
Feedback & supportLast amended by an amending law of 2014. 2 amendments in all.
Where a member of the PSE Fund dies, the total amount standing to the member’s credit in his or her PSE account must be paid to the Public Trustee for disposal in accordance with —
PSE Fund
“PSE Fund” means the Post-Secondary Education Fund established under section 19(1);
the Intestate Succession Act 1967, if the member was not a Muslim at the time of death; or
section 112 of the Administration of Muslim Law Act 1966, if the member was a Muslim at the time of death.
Upon payment of the total amount standing to the credit of a member of the PSE Fund in the member’s PSE account to the Public Trustee under subsection (1), the PSE account is to be closed and the member ceases to be a member of the PSE Fund.
The receipt of the Public Trustee is a good discharge to the PSE Scheme Administrator for those portions of the moneys payable out of the PSE account on the death of a member of the PSE Fund that are payable to the Public Trustee under subsection (1).
PSE Scheme Administrator
“PSE Scheme Administrator” means the public officer appointed by the Minister to administer the PSE Fund on behalf of the Minister;
All moneys paid out of the PSE account of any member of the PSE Fund on the member’s death are deemed to be impressed with a trust in favour of the person or persons determined by the Public Trustee in accordance with subsection (1) to be entitled to the moneys but are, without affecting the Estate Duty Act 1929, deemed not to form part of the deceased member’s estate or to be subject to the deceased member’s debts.[16H