Suggest a correction

Fees charged for administration of CPF moneys, etc.

Public Trustee (Fees) Rules 2010

Match the official source exactly.

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Wrong or mistyped textWrong structure or numberingWrong title or detailsDuplicated content

Proposed text

—(1) There shall be paid to the Public Trustee, upon receipt of such amount payable to the Public Trustee out of the Central Provident Fund under section 25(3) or 25A(1) of the Central Provident Fund Act 1953, out of the Edusave Pupils Fund under section 18 of the Education Endowment and Savings Schemes Act 1992 or the Post-Secondary Education Fund under section 27 of the Education Endowment and Savings Schemes Act 1992, or under section 6 of the Child Development Co-Savings Act 2001 in respect of the Child Development Co-Savings Scheme for disposal to or to be held in trust for the benefit of persons entitled thereto, a fee charged on the amount received at the applicable rates set out below —(a)for the first $1,000 — 2.400%;(b)for the next $9,000 — 1.500%;(c)for the next $240,000 — 0.750%;(d)for the next $250,000 — 0.450%; and(e)for amounts in excess of $500,000 — 0.300%.(2) Where any portion of an amount paid to the Public Trustee under section 25A(1) of the Central Provident Fund Act 1953, section 18 or 27 of the Education Endowment and Savings Schemes Act 1992, or section 6 of the Child Development Co-Savings Act 2001 for disposal is thereafter held in trust for the benefit of a minor beneficiary, no further fee shall be charged on the amount so held in trust for the benefit of the minor beneficiary in addition to the fee charged under paragraph (1).(3) If at any time after the receipt of such amount referred to in paragraph (1), any additional amount is received under section 25(3) or 25A(1) of the Central Provident Fund Act 1953, section 18 or 27 of the Education Endowment and Savings Schemes Act 1992, or section 6 of the Child Development Co-Savings Act 2001, in respect of the death of the same member of the Fund or Scheme, as the case may be, there shall be paid to the Public Trustee in respect of the additional amount a further fee as would raise the total fees to the amount which would have been payable on the aggregate of all amounts received under section 25(3) or 25A(1) of the Central Provident Fund Act 1953, section 18 or 27 of the Education Endowment and Savings Schemes Act 1992, or section 6 of the Child Development Co-Savings Act 2001, in respect of the death of the same member of the Fund or Scheme, as the case may be.

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