Pension Fund Act 1995 · 2020 Revised Edition · Part 3 · Application of Pension Fund
9. Surpluses in Pension Fund
Feedback & supportThe Minister may, by warrant under his or her hand authorise the transfer to the Consolidated Fund any moneys in the Pension Fund which, in the opinion of the Minister, are not required to meet the liabilities of the Pension Fund.
The Minister may, by warrant under his or her hand authorise the transfer to the SAVER‑Premium Fund established under section 205B of the Singapore Armed Forces Act 1972 any moneys in the Pension Fund that the Minister may determine as the value of that part of the Pension Fund relating to all those servicemen in the Singapore Armed Forces who opted in favour of joining the SAVER Plan or Premium Plan established under section 205A of the Singapore Armed Forces Act 1972.
Singapore
“Singapore” means —(a)in relation to any period ending before 3 June 1959 — the Colony of Singapore; or(b)in relation to any period beginning on or after 3 June 1959 and ending before 9 August 1965 — the State of Singapore;
The Minister may, by warrant under his or her hand authorise the transfer to the INVEST Fund established under section 12 of the Home Affairs Uniformed Services Superannuation Act 2001 any moneys in the Pension Fund that the Minister may determine as the value of that part of the Pension Fund relating to all those public officers who opted in favour of joining the INVEST Plan established under that Act and to all public officers who opted in favour of joining the Occupational Superannuation Scheme under the Prevention of Corruption Act 1960.
superannuation scheme
“superannuation scheme” means a scheme providing for the payment of any pension, gratuity, allowance or other benefit on death, superannuation, resignation, retirement or discharge to persons who have been in the public service in Singapore or to the legal personal representatives or dependants of those persons.