Singapore legislation
Regulation 12
Regulation 12
Subsidiary accounts of Contribution Account
Subregulation 1
The Board shall also maintain in respect of each Category A member of the SAVER Plan, and each member of the SAVER Plan who transferred to the military domain experts service before 1 July 2025, the following subsidiary accounts within the Contribution Account:
a Savings Account;
a Retirement Account; and
a Central Provident Fund Top-Up Account.
Subregulation 1A
The Board must maintain, in respect of each of the following Category B members of the SAVER Plan, the subsidiary accounts specified for him within the Contribution Account:
an applicable Category B member of the SAVER Plan —
a SAVER Account (being the Retirement Account in the SAVER-Premium Fund maintained by the Board before 1 July 2025 in respect of that member in accordance with these Regulations which is renamed with effect from that date as the SAVER Account);
a Savings Account; and
a Central Provident Fund Top-Up Account;
a member of the SAVER Plan —
under paragraph (d) of the definition of “Category B member” in regulation 2(1) of the Singapore Armed Forces (SAVER Plan) Regulations who enlisted as a soldier before 1 January 2026 for regular service; or
to whom regulation 52 of those Regulations applies, who had transferred to the military domain experts service on or after 1 July 2025,the following subsidiary accounts:
a SAVER Account;
a Central Provident Fund Top-Up Account;
a Category B member of the SAVER Plan other than those specified in sub-paragraphs (a) and (b) — a SAVER Account.
Subregulation 2
The Board shall maintain in respect of each member of the Premium Plan, other than an applicable Category B member of the Premium Plan, the following subsidiary accounts within the Contribution Account:
a CARE Account; and
a Central Provident Fund Top-Up Account.
Subregulation 2A
The Board must maintain in respect of each applicable Category B member of the Premium Plan — a CARE Account.
Subregulation 3
The Board shall credit to the subsidiary accounts of each member —
contributions and benefits at the rates prescribed by the Singapore Armed Forces (SAVER Plan) Regulations (Rg 19) or the Singapore Armed Forces (Premium Plan) Regulations, as the case may be; and
any such dividend declared by the Board under paragraph (4).
Subregulation 4
The Board may during each financial year declare to the subsidiary accounts of each member a dividend out of the net income and unrealised net profits of the SAVER-Premium Fund for that financial year.
Subregulation 5
The Board may deduct from the Central Provident Fund Top-Up Account of a member or, if the member does not have such an account or there is a deficiency of funds in that account, from any other subsidiary account of the member, any expenses incurred by or on behalf of the Board in the administration, management or investment of moneys in the SAVER-Premium Fund specifically on account of that member.
Subregulation 6
Any deduction under paragraph (5) shall be paid by the Board as reimbursement into the Income Account.