Singapore legislation
Regulation 38
of Prevention of Corruption (Occupational Superannuation Scheme) Regulations 2003
Regulation 38
Option to convert to 2023 Scheme
Amended byS 607/2023 wef 01/09/2023
Subregulation 1
Any relevant person must, subject to the conditions imposed by the Minister, be given an option to convert to the 2023 Scheme or to remain —
(a)
in the 2001 Scheme; or
(b)
in his existing scheme of service.
Subregulation 2
Any option exercised by a relevant person is irrevocable except that the relevant person may be required by the Minister to revert to the pensionable service, if the relevant person was in the pensionable service prior to his conversion to the 2023 Scheme.
Subregulation 3
Amended byS 607/2023 wef 01/09/2023
Any option exercised by a relevant person before 1 September 2023 to join or not join the 2023 Scheme is deemed to be exercised in accordance with this regulation.