Singapore legislation
Regulation 18
of Prevention of Corruption (Occupational Superannuation Scheme) Regulations 2003
Regulation 18
Withdrawals and vesting of contributions
Subregulation 1
Subject to these Regulations, the following amounts, where applicable, shall vest in a member of the 2001 Scheme and may be awarded in respect of that member as follows:
such portion of the moneys standing to the member’s credit in his Retention Account as specified in the Second Schedule in relation to the length of reckonable service in years or part thereof; and
such portion of the moneys standing to the member’s credit in the member’s Retirement Account as specified in the Second Schedule in relation to the member’s age as at —
the date of the member’s retirement;
the date of the member’s resignation; or
the date of the member’s transfer from the service to another scheme of service in the public service.
Subregulation 2
Notwithstanding paragraph (1) —
where a member of the 2001 Scheme retires from the service on any ground specified in regulation 11(1)(b), (c), (d), (f) or (g); or
where a member of the 2001 Scheme dies or has his service terminated due to total or permanent disability,all moneys standing to the member’s credit in his Retention Account or Retirement Account or both, as the case may be, shall vest in the member and may be awarded in respect of that member.
Subregulation 3
Notwithstanding paragraph (1) or (2) —
where a member of the 2001 Scheme retires from service on the ground specified in regulation 11(1)(d) following disciplinary proceedings by or under the authority of the Public Service Commission or by a disciplinary officer under that service, all moneys standing to the member’s credit in his Retention Account or Retirement Account or both, which have vested in him under paragraph (2), may be forfeited or reduced to the extent as determined by the award officer; and
where a member of the 2001 Scheme retires from service on the ground specified in regulation 11(1)(e), such portion of the moneys standing to the member’s credit in his Retention Account or Retirement Account, as the case may be, which has vested in the member under paragraph (1) may be increased to the extent and paid in such manner as determined by the award officer.
Subregulation 4
Despite paragraph (1)(b)(ii) or (iii), any sum in the Retirement Account of a member of the 2001 Scheme does not vest in the member unless the member has served at least 10 years of reckonable service while being a member of the 2001 Scheme.
Subregulation 4A
For the purposes of counting the period of reckonable service mentioned in paragraph (4) in relation to a member of the 2001 Scheme who transfers on 2 or more occasions on or after 1 May 2019 from the service to another scheme of service in the public service, only the period of reckonable service served continuously immediately before the latest transfer may be taken into account.
Subregulation 4B
Paragraphs (4) and (4A) do not apply to a member of the 2001 Scheme who transfers from the service to the Administrative Service.
Subregulation 5
The Board may, on the application of any person entitled to apply under regulation 20, authorise the payment to that person of the sum vested in the member of the 2001 Scheme in accordance with paragraphs (1), (2), (3) and (4).
Subregulation 6
Where a member of the 2001 Scheme is dismissed from the service, the Board may, on the application of any person entitled to apply under regulation 20, authorise the payment to that person of such moneys in the member’s Retention Account and Retirement Account not forfeited by the award officer under regulation 17.
Subregulation 7
The Board shall credit to the Provisional Account any balance of moneys in the closed Retention Account or Retirement Account of any member of the 2001 Scheme after the amount allowed to be withdrawn under these Regulations has been paid.
Subregulation 8
In paragraph (4), “reckonable service” does not include service which would otherwise be reckonable under regulation 8(d).