Singapore legislation
Regulation 19
of Prevention of Corruption (Occupational Superannuation Scheme) Regulations 2003
Regulation 19
Arrangements for members of 2001 Scheme who transfer from service to other public service
Subregulation 1
Notwithstanding any provision in these Regulations to the contrary, where a member of the 2001 Scheme transfers from the service to another scheme of service in the public service or to the Administrative Service, and the member’s period of service in the service is not counted as pensionable service for the purposes of the Pensions Act 1956 —
all contributions to the member’s Retirement Account and Retention Account must cease with effect from the date of the transfer of the member of the 2001 Scheme;
where a Retirement Account has been opened for the member of the 2001 Scheme —
the Retirement Account must remain open until the relevant date for that member, if the member transfers to another scheme of service in the public service before 1 May 2019 or to the Administrative Service on or after that date, and interest on the moneys in that Account at such rate as the Minister may determine must continue to be credited to the Retirement Account of the former member of the 2001 Scheme in lieu of any dividend declared under regulation 12(5) until the moneys are paid to the member in accordance with these Regulations; or
the Retirement Account must close with effect from the date of the transfer for that member if the member transfers on or after 1 May 2019 to another scheme of service in the public service except the Administrative Service, and —
if the member has served at least 10 years of reckonable service (counted in accordance with regulation 18(4A), if applicable) while being a member of the 2001 Scheme as at the date of the transfer, the balance moneys in that Retirement Account, after deducting the amount of moneys in that Retirement Account which have been vested in the member in accordance with paragraph 4 or 4A (as the case may be) of the Second Schedule, must be forfeited and transferred to the Provisional Account; or
in any other case, all moneys in that Retirement Account must be forfeited and transferred to the Provisional Account;
where a Retention Account has been opened for the member of the 2001 Scheme, the Retention Account must be closed and —
if the member transfers to another scheme of service in the public service before 1 May 2019 or to the Administrative Service on or after that date, all moneys in that Retention Account must be awarded to the member; or
if the member transfers on or after 1 May 2019 to another scheme of service in the public service except the Administrative Service —
where the member has served at least 6 years of reckonable service —
(AA)half of the balance moneys in that Retention Account on the date of the transfer, after deducting the amount of moneys in that Retention Account which have been vested in the member in accordance with regulation 18(1)(a), must be awarded to the member; and
(AB)the balance moneys in that Retention Account after the award mentioned in sub-paragraph (AA) must be forfeited and transferred to the Provisional Account; or
in any other case, all moneys in that Retention Account must be forfeited and transferred to the Provisional Account;
if he transfers from the service to that scheme of service before 1 May 2019, or to the Administrative Service on or after that date, but before the sums in his Retirement Account have fully vested in him, the former member of the 2001 Scheme may, at his option, be awarded —
on his transfer, such portion of the moneys standing to the credit of that member of the 2001 Scheme in his Retirement Account that is vested under regulation 18, and the balance of moneys in that account (together with interest thereon) subsequently at the relevant date if he is still a public officer; or (ii)all moneys in his Retirement Account (together with interest thereon) at the relevant date if he is still a public officer; and (e)if he transfers from the service —
to that scheme of service before 1 May 2019, or to the Administrative Service on or after that date; and
after the sums in his Retirement Account have fully vested in him,all the sums vested may be awarded to the former member of the 2001 Scheme.
Subregulation 2
If a former member of the 2001 Scheme referred to in paragraph (1)(d) who resigns, retires or is dismissed from the public service before the relevant date has previously opted for the award under paragraph (1)(d)(i), the sum that may be subsequently awarded to him under paragraph (1)(d)(i) shall be forfeited immediately and transferred to the Provisional Account.
Subregulation 3
If a former member of the 2001 Scheme mentioned in paragraph (1)(d) —
resigns, retires or is dismissed from the public service before the relevant date; and
has previously opted for the award under paragraph (1)(d)(ii),an amount equal to the sums vested in his Retirement Account at the date of his transfer from the service may be awarded to the former member of the 2001 Scheme on his resignation, retirement or dismissal (as the case may be) and the balance in his Retirement Account must be forfeited and transferred to the Provisional Account.
Subregulation 4
Notwithstanding any provision in these Regulations to the contrary, where the period of service of a member of the 2001 Scheme who transfers from the service to a pensionable scheme of service designated by the President under section 3(4)(a) of the Pensions Act 1956 is to be counted as pensionable service for the purposes of that Act, then with effect from the date of his transfer —
where a Retirement Account has been opened for that member of the 2001 Scheme, his Retirement Account shall close and all moneys standing to that member’s credit in that Account shall be forfeited and transferred to the Provisional Account; and
where a Retention Account has been opened for the member of the 2001 Scheme, the Retention Account must close and —
if the transfer is before 1 May 2019, all moneys in that Retention Account must be awarded to the member; or
if the transfer is on or after 1 May 2019 —
where the member has served at least 6 years of reckonable service —
(AA)half of the balance moneys in that Retention Account on the date of the transfer, after deducting the amount of moneys in that Retention Account which have been vested in that member in accordance with regulation 18(1)(a), must be awarded to the member; and
(AB)the balance moneys in that Retention Account after the award mentioned in sub-paragraph (AA) must be forfeited and transferred to the Provisional Account; or
in any other case, all moneys in that Retention Account must be forfeited and transferred to the Provisional Account.
Subregulation 5
The Board may, on the application of a former member of the 2001 Scheme made at any time on or after his retirement from the service in accordance with these Regulations (whether at the compulsory retirement age or otherwise) or (as the case may be) on or after his resignation, retirement or dismissal from the public service, authorise the payment to the former member of the 2001 Scheme of the relevant sum awarded under paragraph (1), (2) or (3), as the case may be.
Subregulation 5A
The Board may, on the application of a member of the 2001 Scheme who transfers from the service under this regulation on or after 1 May 2019, made at any time on or after the date of transfer, authorise the payment to the member of the sum awarded under paragraph (1)(c)(ii)(A)(AA) or (4)(b)(ii)(A)(AA), as the case may be.
Subregulation 6
In this regulation, “relevant date” means the date the whole of the vested sum in his Retirement Account vests in him.