Singapore legislation
Regulation 8
of Education Service Incentive Payment (CONNECT Plan) Regulations 2002
Regulation 8
Contributions
Subregulation 1
Subject to these Regulations, an annual contribution must be credited to the member’s account of each member as soon as practicable after 15 November every year in respect of the member’s qualifying service in the year.
Subregulation 2
Subject to these Regulations, the annual contribution in respect of a member’s qualifying service in any year from 1 January 2015 is the amount that is specified in the second column of the First Schedule in relation to the member’s length of service on 1 January of that year.
Subregulation 3
Subject to these Regulations, the annual contribution in respect of an old scheme transition member’s qualifying service in any year from 1 January 2016 is to be computed in accordance with the formula:where —
A is the amount applicable to a Category B member of the old scheme, specified in the second column of the First Schedule, relating to the old scheme transition member’s length of service on 1 January of that year;
B is the number of days of qualifying service in respect of the old scheme transition member’s service as a Category B member of the old scheme in that year; (c)C is the amount applicable to a Category C member, specified in the second column of the First Schedule, relating to the old scheme transition member’s length of service on 1 January of that year;
D is the number of days of qualifying service in respect of the old scheme transition member’s service as a Category C member in that year; and
E is the number of days between 1 January and 15 November (both dates inclusive) in that year.
Subregulation 4
In paragraph (3), “old scheme transition member” means a member who ceases to be a Category B member of the old scheme and who becomes a Category C member, on or after 16 November 2015.
Subregulation 5
Contributions in respect of qualifying service in a year comprising —
any period of part-time qualifying service; or
any period of leave on half pay, must be reduced on the basis of the proportion that period of part-time qualifying service or leave (as the case may be) bears to full-time qualifying service in that same year.
Subregulation 6
Contributions must still be credited in respect of the qualifying service of a member who, during any year, ceases to be a member in any of the circumstances referred to in regulation 10(1), except that the contribution in respect of the member must —
be reduced on the basis of the proportion the period of the member’s qualifying service in that year prior to his or her cessation of membership, bears to full-time qualifying service in that same year; and
be credited to the member’s account concerned immediately before the closure of his or her member’s account.