Singapore legislation
Regulation 26
of Prevention of Corruption (Occupational Superannuation Scheme) Regulations 2003
Regulation 26
Death in service
Subregulation 1
Subject to regulation 31, where a member of the 2001 Scheme, other than a member of the 2001 Scheme referred to in paragraph (2), dies while he is in service, there shall be paid to such of his dependants as an award officer thinks fit or, if there are no dependants, to his personal representatives, an amount of money equivalent to —
the total sum of moneys, whether vested or not, standing to the credit of the member in his Retention Account and Retirement Account, if applicable, at the date of his death; or
one year’s salary,whichever is the greater.
Subregulation 2
Subject to regulation 31, where a member of the 2001 Scheme dies while he is in service, and he was in the pensionable service immediately before his conversion to the 2001 Scheme under regulation 33, there shall be paid to such of his dependants as an award officer thinks fit or, if there are no dependants, to his personal representatives, an amount of money equivalent to —
the total sum of moneys, whether vested or not, standing to the credit of the member in his Retirement Account and Retention Account, if applicable, at the date of his death; or (b)an amount equivalent to the total benefits that would have been payable to the member under the Pensions Act 1956 if he had remained in the pensionable service at the time of his death,whichever is the greater.
Subregulation 3
The moneys payable to a member of the 2001 Scheme under paragraph (1) or (2) shall be withdrawn from the moneys standing to the credit of the member in all his accounts maintained under the 2001 Scheme, and if the moneys in these accounts are insufficient, the balance shall be withdrawn from the Income Account of the INVEST Fund.
Subregulation 4
In paragraph (1)(b), “salary”, in relation to a member of the 2001 Scheme, means the basic salary and monthly variable component of the member’s total monthly salary.