Singapore legislation
Regulation 10
Regulation 10
Withdrawal of membership
Subregulation 1
A member may with the approval of the Council withdraw his membership from the Fund and there shall be paid out of the Fund as donation from the Council at the option of the member an amount which shall be calculated in accordance with —
Subregulation 2
Where a member has exercised an option for an amount to be calculated in accordance with Formula B set out in paragraph (1)(b), the amount may be paid forthwith on the date he exercised the option under this rule or on a date to be agreed by the member and the Council.
Subregulation 3
Where a member has exercised an option for an amount to be calculated in accordance with Formula A set out in paragraph (1)(a), the amount shall be paid to the member or, on his death, to his legal personal representatives or trustees when —
he leaves the service of the Council on attaining the age of 55 years;
he retires from the service of Council with the consent of the Council after attaining the age of 50 years;
he dies, or is medically boarded out of the service of the Council, after attaining the age of 50 years;
he dies, or is medically boarded out of the service of the Council after 20 years of continuous service; or
he leaves the service of the Council on the abolition of his office without the offer of an alternative office of equivalent value.
Subregulation 4
Where a member who has exercised an option for an amount to be payable to him which is calculated in accordance with Formula A set out in paragraph (1)(a) —
leaves the service of the Council for any reason not specified in paragraph (3)(a), (b) and (e);
dies, or is medically boarded out of the service of the Council, before attaining the age of 50 years; or
dies, or is medically boarded out of the service of the Council, before having completed a period of 20 years of continuous service with the Council,the amount shall not be paid to him and he shall be paid on the day he leaves the service of the Council, or, on his death, his legal personal representatives or trustees shall be paid an amount calculated in accordance with Formula B set out in paragraph (1)(b).