Singapore legislation
Regulation 9
of Education Service Incentive Payment (CONNECT Plan) Regulations 2002
Regulation 9
Awards based on length of service
Subregulation 1
Subject to the Act and these Regulations, a member may be granted an award out of the contributions standing to the member’s credit in the member’s account if the member’s length of service on 1 January 2023, or on 1 January of any subsequent year, is as specified in the Second Schedule.
Subregulation 2
An award to a member under paragraph (1) or regulation 16 is inclusive of any contributions payable or recoverable (if any) under section 7 of the Central Provident Fund Act 1953.
Subregulation 3
Subject to the provisions of these Regulations, an award to a member in any year from 1 January 2023 under paragraph (1) must not exceed the amount that is to be computed in accordance with the formula where —
A is the percentage specified in the second column of the Second Schedule opposite the length of service of that member on 1 January of the year the award is granted; and
B is the amount of contributions standing to the credit of the member in the member’s account on the date immediately before the award is granted.
Subregulation 4
Subject to these Regulations, an award under this regulation or regulation 16 must be paid to the member concerned as soon as practicable but before the end of the year in which the award is granted, except that where, on the payment date, the member is on non-qualifying leave without pay or on leave with pay, the award must be paid to that member in December of the year he or she resumes teaching duties.