Central Provident Fund (Revised Retirement Sum Scheme) Regulations 1995

the amount which remains standing to the credit of the member in his or her ordinary, special and medisave accounts immediately after all the amounts to be transferred to the member’s retirement account under regulation 5(1) or (2) (as the case may be) and regulation 5AA(1) (if applicable) have been so transferred, excluding the amount to be retained in his or her medisave account at that time; and

on or after the SAC Start Date, the sum of all additional SA‑related amounts applicable to the member.

is the appropriate amount set out in the second column of the Second Schedule; and

comprises —

the following amounts (which in total must be at least the specified amount in the third column of the Second Schedule):

an amount in cash;

where the member is a member with partial benefits, the member’s benefit component; and

the member’s property component (if any) which must not exceed the amount specified in the fourth column of that Schedule.

A is the total of the following amounts:

the total amount that has been credited into the member’s retirement account up to that time;

any determined amount paid to the member up to that time from moneys standing to the member’s credit in his or her ordinary account and special account, other than any excluded paid amount;

B is the total of the following amounts that have been credited into the member’s retirement account up to that time:

any interest under section 6(4) of the Act;

any additional interest under section 6(4B) of the Act;

any cash grant (within the meaning of section 14(5) of the Act) credited before 1 January 2026 into the member’s retirement account under section 14(1) of the Act, excluding all of the following:

any cash grant administered by the Ministry of National Development or the Housing and Development Board;

any cash grant known as the Earn and Save Bonus;

any cash grant credited into the member’s retirement account due to the closure of the member’s special account, on the direction of the Minister under section 14(1) of the Act;

paid before 1 January 2025; or

paid on or after 1 January 2025 which, at the member’s request in any particular case, the Board treats as having been paid before that date;

any monthly income due to the member under section 27K(6) of the Act, if —

the member is a relevant member;

the member has nominated, in accordance with section 25(1)(a)(iii) of the Act, any person to receive a portion of the amount payable on the member’s death out of the Fund;

that nomination is not, to the best of the Board’s knowledge, revoked; and

the member has applied to the Board under the Central Provident Fund (Lifelong Income Scheme) Regulations 2009 for the monthly income to be paid into the member’s retirement account; (v)any amount paid to the member’s account pursuant to regulation 19(1) and (2); (vi)any excluded transferred amount; (vii)any amount paid into the member’s retirement account under section 27L(5) of the Act; and

C is the total of the following amounts that have been withdrawn from moneys standing to the credit of the member’s retirement account up to that time (except any amounts withdrawn from the amounts mentioned in sub‑paragraph (b)):

any amount withdrawn from the member’s retirement account under section 15AB(1), (2), (3), (4), (6), (7), (8) or (9) of the Act or a former provision;

any amount withdrawn from the member’s retirement account mentioned in section 21(1), 21A(1) or 21B(1) of the Act or transferred to the member’s ordinary account under any of the following regulations:

regulation 17B of the Central Provident Fund (Approved Housing Schemes) Regulations 1986;

regulation 6B of the Central Provident Fund (Approved HDB‑HUDC Housing Scheme) Regulations 1987;

regulation 8A of the Central Provident Fund (Approved Middle‑Income Housing Scheme) Regulations 1975;

regulation 7A of the Central Provident Fund (Ministry of Defence Housing Scheme) Regulations (Rg 13, 2006 Revised Edition);

regulation 15A of the Central Provident Fund (Non‑Residential Properties Scheme) Regulations 1986;

regulation 23A of the Central Provident Fund (Residential Properties Scheme) Regulations 1982;

any amount transferred or paid to the member’s spouse from the member’s retirement account under section 27B of the Act;

any amount restored or paid to one or more accounts (of that member or any other member) in the Fund, from that member’s retirement account under section 13(7H)(a), (7HA)(b)(i) or (c)(i) or (7HB)(a) of the Act;

any amount refunded or paid to a person from the member’s retirement account under section 13(7I)(a) of the Act;

any amount transferred to a relevant individual from the member’s retirement account under section 18 of the Act;

any amount withdrawn from the member’s retirement account under regulation 12A;

in relation to —

any cash grant mentioned in sub-paragraph (b)(iii)(A), (B) or (C); or

any cash grant credited into the member’s retirement account under section 14(1) of the Act on or after 1 January 2026, other than those mentioned in sub-paragraph (b)(iiia) or (iiib),any amount recovered by the Board from the member’s retirement account pursuant to section 14(3) or (3A) of the Act;

any amount of the remaining moneys —

refunded to a giver’s account from the member’s retirement account under section 19D(2) or (7)(a) of the Act; or

paid to a payer, the personal representatives of the payer or a proper claimant from the member’s retirement account under section 19D(3) or (7)(b) of the Act;

any amount refunded from the member’s retirement account under section 19(1) of the Act as in force on or after 1 April 2022;

any amount withdrawn or transferred from the member’s retirement account under section 15(1B) of the Act;

any amount deducted from the member’s retirement account under section 45(2) of the Act;

any amount recovered by the Board from the member’s retirement account under section 57C of the Act;

any amount refunded or paid from the member’s retirement account under section 71 of the Act.

at the first computation time, is an amount calculated in accordance with the formula Ap + Bp, where —

Ap is the member’s benefit component at the first computation time;

Bp is the higher of the following amounts:

the amount by which Cp exceeds Dp;

the lower of the following amounts:

Cp is the retirement sum that has been set aside by the member immediately before the first computation time, calculated in accordance with regulation 4(2);

Dp is the amount by which D1 exceeds D2, where —

D1 is the amount by which the member’s benefit component at the first computation time exceeds the shortfall in the amount of the retirement sum that has been set aside by the member immediately before the first computation time, calculated in accordance with regulation 4(2); and

D2 is the amount credited or transferred to the member’s retirement account under section 18 or 18A of the Act immediately before the first computation time; and

Ep is the sum of the following amounts (if any) that have been withdrawn from the member’s retirement account, but not refunded to the member’s retirement account, at the first computation time:

the amount of moneys deposited in a bank account with an approved bank under the former section 15(6C)(b) of the Act;

the amount withdrawn from the member’s retirement account to purchase an approved annuity;

the amount deducted from the member’s retirement account for the payment of premium for any annuity plan under the Lifelong Income Scheme established and maintained by the Board under section 27K of the Act;

at any recomputation time, is an amount calculated in accordance with sub‑paragraph (a) with the following modifications:

the references to “the first computation time” are replaced by “the recomputation time”;

Cp is the retirement sum that has been set aside by the member immediately before the recomputation time, calculated in accordance with sub‑paragraph (c), less the benefit component at the last computation time;

D1 is the amount by which the member’s benefit component at the recomputation time exceeds D3, where D3 is the amount by which the retirement sum applicable to the member exceeds the difference between —

the retirement sum set aside by the member immediately before the recomputation time, calculated in accordance with sub‑paragraph (a) or (c) (whichever applied at the last computation time); and

the benefit component at the last computation time; and

at any other computation time, is an amount calculated in accordance with the formula Fp – Gp – Hp, where —

Fp is the sum of —

the amount that has been set aside by the member with partial benefits at the last computation time; and

all moneys credited or transferred to the retirement account after the last computation time;

Gp is an amount determined by the Board, not exceeding the total of the amounts mentioned in regulation 4(2)(b) that have been credited to the member’s retirement account after the last computation time and on or before the determination by the Board for the current computation time; and

Hp is an amount determined by the Board, not exceeding the total of the amounts mentioned in regulation 4(2)(c) that have been withdrawn from the moneys standing to the credit of the member’s retirement account after the last computation time and on or before the determination by the Board for the current computation time (excluding any amount withdrawn from the amounts mentioned in sub‑paragraph (ii)).

is a member with full benefits; or

has an approved benefit that is taken into account in computing the amount of the retirement sum that has been set aside by the member.

Afa is —

for a member mentioned in paragraph (3)(a), the total amount credited or transferred to the member’s retirement account under section 18 or 18A of the Act; or

for a member mentioned in paragraph (3)(b), the retirement sum set aside by the member at that time, calculated in accordance with paragraph (1)(c), less the member’s benefit component (if any) at that time;

Bfa is —

for a member mentioned in paragraph (3)(a), the lower of the following:

the amount paid to the member’s account under regulation 19(3) in respect of the member’s approved benefit that is terminated or surrendered;

the amount by which the retirement sum applicable to the member exceeds the total amount credited or transferred to the member’s retirement account under section 18 or 18A of the Act; or

for a member mentioned in paragraph (3)(b), the lower of the following:

the amount paid to the member’s account under regulation 19(3) in respect of the member’s approved benefit that is terminated or surrendered;

the amount by which the retirement sum applicable to the member exceeds the total of the following amounts computed immediately before the amount mentioned in sub‑paragraph (A) is paid into the member’s account or (if no amount mentioned in sub‑paragraph (A) is to be paid) immediately before the member’s approved benefit is terminated or surrendered:

A, B and C refer to the corresponding amounts mentioned in regulation 4(2) —

immediately after payment to the member’s account of the amount payable (if any) under regulation 19(3) in relation to the termination or surrender of the member’s approved benefit; or

if no amount is due to be paid to the member’s account under regulation 19(3), after the member’s approved benefit is terminated or surrendered.

the retirement sum set aside by the member; or (b)the shortfall in the retirement sum applicable to a member.

the first account date of the applicable charge is before 10 May 2019;

where sub-paragraph (a) does not apply, and the applicable charge is in respect of a leasehold estate in an immovable property — the unexpired term of the leasehold estate, on the first account date, is —

at least (95 – T1) years, where T1 is the member’s age on the first account date; or

such shorter period as the Board may permit; or

sub-paragraph (a) does not apply and the applicable charge is in respect of the freehold estate of an immovable property.

does not apply in computing the retirement sum set aside by a member in accordance with regulation 4(2) or 4A;

applies in relation to regulation 5(4), 5AA or 7 only if the member requests the Board, in the manner required by the Board, to specify any applicable charge under that regulation; and

does not apply in relation to regulation 5A, 5B, 5C, 5D or 6 if the member requests the Board, in the manner required by the Board, not to specify any applicable charge under that regulation.

where the amount of moneys standing to the member’s credit in the Fund (excluding the amount to be retained in the medisave account) at that time is more than $10,000 but less than or equal to 2 times the retirement sum applicable to the member — half the amount of moneys standing to the member’s credit in the Fund;

where the amount of moneys standing to the member’s credit in the Fund (excluding the amount to be retained in the medisave account) at that time is more than $5,000 but less than or equal to $10,000 — an amount of $5,000; or

where the amount of moneys standing to the member’s credit in the Fund (excluding the amount to be retained in the medisave account) at that time is $5,000 or less — the whole amount standing to the member’s credit in the Fund.

the shortfall in the retirement sum applicable to the member immediately before the transfer; (b)half the amount by which A exceeds B, immediately before the transfer, where —

A is the total amount of moneys standing to the member’s credit in the member’s ordinary account (excluding the reserved amount standing to the member’s credit in that account) and special account; and

B is the member’s remaining committed amount, if any.

the shortfall in the retirement sum applicable to the member;

the amount paid.

the Central Provident Fund (Approved Middle‑Income Housing Scheme) Regulations 1975;

the Central Provident Fund (Residential Properties Scheme) Regulations 1982;

the Central Provident Fund (Non‑Residential Properties Scheme) Regulations 1986;

the Central Provident Fund (Approved Housing Schemes) Regulations 1986;

the Central Provident Fund (Ministry of Defence Housing Scheme) Regulations;

the Central Provident Fund (Approved HDB‑HUDC Housing Scheme) Regulations 1987.

any reserved amount has been set aside in a member’s ordinary account under section 15(6) of the Act in respect of items 1 to 6 of the Schedule to the Central Provident Fund (Reserved Amount) Regulations 2014;

the whole or any part of the reserved amount referred to in sub‑paragraph (a) ceases to be set aside under regulation 3(5) of those Regulations; and

the amount which ceases to be set aside under regulation 3(5) of those Regulations (called in paragraph (3) the released amount) exceeds $5,000.

the remainder (if any) of the reserved amount that the member is still required to set aside; and

B is the member’s remaining committed amount, if any.

any reserved amount has been set aside in a member’s ordinary account under section 15(6) of the Act in respect of item 7 of the Schedule to the Central Provident Fund (Reserved Amount) Regulations 2014;

the whole or any part of the reserved amount mentioned in sub‑paragraph (a) ceases to be set aside under regulation 3(5) of those Regulations; and

the released amount exceeds $5,000.

the shortfall in the retirement sum applicable to the member; or

the amount mentioned in paragraph (4)(b) which ceases to be set aside,excluding the member’s remaining committed amount, if any.

any reserved amount has been set aside in a member’s ordinary account under section 15(6) of the Act in respect of item 8 of the Schedule to the Central Provident Fund (Reserved Amount) Regulations 2014; and

the whole or any part of the reserved amount mentioned in sub‑paragraph (a) ceases to be set aside under regulation 3(5) of those Regulations.

the shortfall in the retirement sum applicable to the member;

the amount mentioned in paragraph (6)(b) (which ceases to be set aside).

an amount of money is transferred from a member’s ordinary account or special account (called in this regulation Account A) to the member’s retirement account under section 15(6) or (6CA) of the Act;

the whole or part of the transferred amount in sub‑paragraph (a) is then restored from the member’s retirement account to Account A under section 13(7H) of the Act or paid from the member’s retirement account to one or more accounts under section 13(7HA) or (7HB) of the Act;

the restored amount in sub‑paragraph (b) is then transferred —

to the retirement account of a relevant individual under section 18(1)(a) or (2)(a) of the Act; or

to the special account of a relevant individual under section 18(3)(a) of the Act; and

the transferred amount in sub-paragraph (c), or the balance of that amount, is then —

credited to Account A under section 19(2) or 19A(2) of the Act as in force immediately before 1 April 2022; (ii)refunded to Account A under section 19(1) of the Act as in force on or after 1 April 2022 or section 19D(2) or (7)(a) of the Act; or

paid to the member’s retirement account under section 19(2A) of the Act.

the shortfall in the retirement sum applicable to the member; (b)the credited or refunded amount.

a member’s moneys in the retirement account or special account are transferred —

to the retirement account of a relevant individual under section 18(1)(a) or (2)(a) of the Act; or

to the special account of a relevant individual under section 18(3)(a) of the Act; and

the transferred amount in sub‑paragraph (a), or the balance of that amount, is then —

credited to the member’s retirement account under section 19(2) or 19A(2) of the Act as in force immediately before 1 April 2022; (ii)refunded to the member’s retirement account under section 19(1) of the Act as in force on or after 1 April 2022 or section 19D(2) or (7)(a) of the Act; or

paid to the member’s retirement account under section 19(2A) of the Act.

the amount by which the retirement account balance exceeds the retirement sum applicable to the member;

the credited or refunded amount in paragraph (1)(b).

the amount of the retirement sum which has been set aside by the member in accordance with regulation 4(2) or 4A, as the case may be;

the property component.

the shortfall in the retirement sum applicable to the member;

the amount so credited under section 13C of the Act.

2 members of the Fund are parties to a marriage, and neither member is a relevant member;

one member —

has already set aside an amount in part or full satisfaction of the retirement sum applicable to the member; and

is not exempted under section 15AA(3) of the Act or a former provision from complying with section 15(6)(a) of the Act;

both members desire to set aside jointly an amount which is less than the aggregate of the retirement sums of both members;

each member has executed before 1 January 2013 a memorandum in accordance with section 15(6A) of the Act; and

both members agree, as a condition precedent to the Board permitting them to set aside jointly an amount which is less than the aggregate of the retirement sums of both members, that in the event of the death of either member, the Board may transfer to the retirement account of the surviving member such amount in cash standing to the credit of the deceased member in the deceased member’s retirement account as he or she has nominated the surviving member to receive,the Board may permit the members to set aside jointly such amount, being an amount which is less than the aggregate of the retirement sums of both members, as the Board may specify.

transfer to the retirement account of the surviving member an amount standing to the credit of the deceased member in the deceased member’s retirement account, being an amount not exceeding the retirement sum applicable to the surviving member; and

pay to the surviving member the remainder (if any) of the amount that the deceased member has nominated the surviving member to receive.

where both members have attained 55 years of age on or after 1 July 1995 but before 1 July 2004, an amount computed in accordance with the formula 0.5MF + Swhere Mis the retirement sum applicable to the first member;Fis the relevant multiplying factor set out in the Third Schedule; andSis the shortfall in the retirement sum applicable to the first member; or

where the first member has attained 55 years of age before 1 July 1995 and the second member has attained 55 years of age on or after 1 July 1995 but before 1 July 2004, an amount computed in accordance with the formula (1.5M – C)Fwhere Mis the retirement sum applicable to the first member;Cis the amount already set aside by the first member in part or full satisfaction of the retirement sum applicable to him or her; andFis the relevant multiplying factor set out in the Third Schedule.

a proportion in cash that is in direct proportion to that required of the first member; and

a proportion in cash that is in direct proportion to that required of the second member.

the reserved amount standing to the member’s credit in the member’s ordinary account at the relevant time; and

the member’s remaining committed amount, if any.

where the member’s balance is less than the amount specified in paragraph (11) — the whole of the member’s balance; or

in any other case — the amount specified in paragraph (11).

the month in which the member attains the applicable age;

the month after the member becomes a relevant member.

A is the difference between —

the member’s balance (in dollars) at the first time when an annuity plan is issued to the member; and

the total of the following amounts (in dollars):

all payments received by the member under this paragraph before the payment of the amount of which is being computed; (B)any other withdrawals or transfers from the member’s balance that are made after the annuity plan mentioned in sub‑paragraph (i) is issued to the member;

N is the larger of 60 or the total number of months in the period —

beginning with (and including) either the month in which the member attains the applicable age or the month after the annuity plan mentioned in sub‑paragraph (a)(i) is issued to the member, whichever month is later; and

ending with (and including) the month in which the member will attain 90 years of age; and

D is an additional amount (in dollars) which is payable at the discretion of the Board, taking into account —

the member’s balance;

any additional amount which may be credited to the member’s account with the approved bank or retirement account after the annuity plan mentioned in sub‑paragraph (a)(i) is issued to the member; and

any interest which may accrue on the additional amount mentioned in sub‑paragraph (ii).

a date (specified by the Board) that falls in the month in which the member attains the applicable age;

a date (specified by the Board) that falls in the month after the member becomes a relevant member.

where the balance of the amount mentioned in paragraph (6) (including any interest accruing on that amount) is less than the amount specified in paragraph (11) — the entire balance; or

in any other case — the amount specified in paragraph (11).

one year after the last day of the month in which the relevant date falls; or

any shorter period determined by the Board.

the amount that either member had received under this paragraph prior to 1 July 2014;

the specified monthly payment; (c)the subsistence amount set out in the Fourth Schedule.

the amount that either member had received under this paragraph prior to 1 July 2014;

the specified monthly payment; (c)the subsistence amount set out in the Fourth Schedule.

the amount that such member had received under this paragraph prior to 1 July 2014;

the specified monthly payment; (c)the subsistence amount set out in the Fourth Schedule.

whether the monthly income from the member’s approved benefits is less in value than the payout benchmark applicable to the member;

the amount transferred to the member’s retirement account under section 18 or 18A of the Act, if any;

any cash grant (within the meaning of section 14(5) of the Act) credited into the member’s retirement account under section 14(1) of the Act.

is to determine the monthly income provided or to be provided to a member by that member’s pension, annuity or other benefit from any information it may have; and

may, if it has information of the fixed monthly income provided or to be provided by that member’s pension, annuity or other benefit, take that fixed monthly income to be the monthly income provided or to be provided to the member by that pension, annuity or other benefit.

a date (specified by the Board) that falls in the month in which the member attains the applicable age;

the date on which the Board approves the application.

impose terms and conditions; and

subject to regulation 10C, pay the member, in accordance with paragraph (1), such amounts as the Board may determine.

the Board has before, on or after 1 January 2020 computed the monthly income to be paid to a member under regulation 8A(1) or (7), 9, 10 or 10A; and

the amount standing to the credit of the member in the member’s retirement account is subsequently reduced, on or after 1 January 2020, by any factor that was not taken into account in that computation, the Board may on or after 1 April 2020 (without any application by the member) reduce the amount of the monthly income to be paid in the proportion by which the amount mentioned in sub‑paragraph (b) is reduced.

if the member has applied for the monthly income which the member may be paid under regulation 8A(1), 9(2) or (3), 10, 10A or 10B to be paid into the member’s account with a bank by inter‑bank GIRO, pay the member the entire balance in that manner; or

retain the entire balance in the member’s retirement account until there is a balance of not less than $20 in the amount so retained (including any interest accruing on that amount).

any monthly income or amount due to a member under regulation 8A(1) or (3), 9(2) or (3), 10(1) or (2) or 10B, any balance due to the member under regulation 10C(2) or any additional amount due to the member under regulation 10A(1) or (3); and

any amount due to the member under regulation 12A.

payment into the member’s bank account;

issuing a cheque or any other physical payment instrument to the member;

crediting the member’s ordinary account;

any other manner of payment applied for by the member.

the member has any relevant property charge;

the sum of the following amounts is equal to or more than the retirement sum applicable to the member:

the total amount secured by the member’s relevant property charges;

the total amount covered by all the following charges and undertakings of the member:

any charge under section 15AB(1), (2), (10), (11) or (13) of the Act or a former provision, or section 27C(1)(i), 27D(1)(j)(ii), 27DA(1)(i) or 27DB(2)(e) of the Act, or any section 21C(1) charge A or section 21C(1) charge C;

any undertaking under section 15AB(3) or (4) of the Act or a former provision, or section 27D(1)(j)(i) of the Act, or any section 21C(2) undertaking A, section 21C(2) undertaking B, section 21D(1) undertaking A or section 21D(1) undertaking B;

the amount of the retirement sum the member has set aside in accordance with regulation 4(2) or 4A, as the case may be;

the amount of the retirement sum the member has set aside in accordance with regulation 4(2) or 4A (as the case may be) is more than the minimum combined cash and benefit component specified in the Second Schedule applicable to the member; and

the member satisfies such terms and conditions as the Board may impose.

a charge is to be created or constituted, or subsists, under section 15AB(1), (2), (10), (11) or (13), 21, 21A or 21B of the Act or a former provision or there subsists any section 21C(1) charge A or section 21C(1) charge B; or

an undertaking is to be given or subsists under section 15AB(3) or (4) of the Act or a former provision or there subsists any section 21C(2) undertaking A or section 21D(1) undertaking A,the Board may appoint a Government valuer or a licensed valuer to value the immovable property and the expenses of the valuation are to be borne by the member concerned.

the Board may appoint a Government valuer or licensed valuer to value any immovable property in respect of which the relevant person has transferred (other than by way of sale) his or her estate or interest to the member, and in respect of which there subsists a charge under section 27C(1)(i), 27D(1)(j)(ii), 27DA(1)(i), 27DB(2)(e), 27E(1)(h) or 27F(1)(h) of the Act, an undertaking under section 27D(1)(j)(i) of the Act, or any section 21C(1) charge C, section 21C(1) charge D, section 21C(2) undertaking B or section 21D(1) undertaking B; and

the expenses of such valuation are to be borne by the member.

a member sells, transfers, assigns or otherwise disposes of an immovable property (or any of the member’s estate or interest in the immovable property) to any person in respect of which there subsists —

a charge created or constituted under section 15AB(1), (2), (10), (11) or (13) of the Act or a former provision, or any section 21C(1) charge A; or

an undertaking given under section 15AB(3) or (4) of the Act or a former provision, or any section 21C(2) undertaking A or section 21D(1) undertaking A; and

upon the sale, transfer, assignment or disposal, the amount secured by the charge or undertaking (or such part of the amount as the Board may determine) is paid to the Board,the Board must pay that amount into the member’s ordinary account.

a member sells, transfers, assigns or otherwise disposes of an immovable property (or any of the member’s estate or interest in the immovable property) to any person in respect of which there subsists —

a charge created or constituted under section 27C(1)(i), 27D(1)(j)(ii), 27DA(1)(i) or 27DB(2)(e) of the Act, or any section 21C(1) charge C; or

an undertaking given under section 27D(1)(j)(i) of the Act, or any section 21C(2) undertaking B or section 21D(1) undertaking B; and

upon the sale, transfer, assignment or disposal, the amount secured by the charge or undertaking (or such part of the amount as the Board may determine) is paid to the Fund,the Board must pay that amount into the member’s special account.

the Board is notified of the member’s death;

the member is entitled to withdraw the amount standing to the member’s credit in the Fund under section 15(2)(b) of the Act or a former provision, or section 15AA(1) of the Act because the member is suffering from a terminal illness or disease or a former provision, and the Board has given its authority under section 15(1) of the Act for such withdrawal;

the member complies with section 15(6)(a) or 15AA(5)(a) of the Act or a former provision;

the member is exempt from complying with section 15(6)(a) of the Act by reason of section 15AA(3)(b) of the Act or a former provision;

there is a relevant transaction in respect of the immovable property and an undertaking is deemed under section 21C(2) of the Act as a result;

the member —

has applied, in such manner as the Board may require, for the undertaking not to be enforced;

at the time the Board considers the member’s application, has a relevant property charge and the total of the following amounts is not less than the retirement sum applicable to the member:

the amount secured by the relevant property charge;

the amount of the retirement sum the member has set aside; (iii)at the time the Board considers the member’s application, has set aside towards the maintenance of the retirement sum, an amount equal to or more than the minimum combined cash and benefit component specified in the Second Schedule applicable to the member; and

satisfies such terms and conditions as the Board may impose.

the death of the member;

the member is entitled to withdraw the amount standing to the member’s credit in the Fund under section 15(2)(b) of the Act or a former provision, or section 15AA(1) of the Act because the member is suffering from a terminal illness or disease or a former provision, and the Board has given its authority under section 15(1) of the Act for such withdrawal;

the member complies with section 15(6)(a) or 15AA(5)(a) of the Act or a former provision;

the member is exempt from complying with section 15(6)(a) of the Act by reason of section 15AA(3)(b) of the Act or a former provision;

where the charge mentioned in section 15(11F) of the Act as in force before 1 March 2022 is constituted on or after 1 January 2016, but before 1 January 2017, to secure the payment of an amount to the Board, at the time when that charge is constituted —

the member has a relevant property charge; and

the total of the following amounts is not less than the retirement sum applicable to the member:

the amount secured by the relevant property charge;

the amount of the retirement sum the member has set aside;

where the charge mentioned in section 15AB(14) of the Act or a former provision is constituted before, on or after 1 January 2016 to secure the payment of an amount to the Board and sub‑paragraph (e) does not apply, the member —

has applied, in such manner as the Board may require, for that charge to be cancelled;

at the time the Board considers the member’s application, has a relevant property charge and the total of the following amounts is not less than the retirement sum applicable to the member:

the amount secured by the relevant property charge;

the amount of the retirement sum the member has set aside; (iii)at the time the Board considers the member’s application, has set aside towards the maintenance of the retirement sum, an amount equal to or more than the minimum combined cash and benefit component specified in the Second Schedule applicable to the member; and

satisfies such terms and conditions as the Board may impose;

where the charge mentioned in section 15AB(15) of the Act is created before 1 January 2013 to secure the payment of an amount to the Board, the member —

has applied, in such manner as the Board may require, for that charge to be cancelled;

at the time the Board considers the member’s application, has a relevant property charge and the total of the following amounts is not less than the retirement sum applicable to the member:

the amount secured by the relevant property charge;

the amount of the retirement sum the member has set aside; (iii)at the time the Board considers the member’s application, has set aside towards the maintenance of the retirement sum, an amount equal to or more than the minimum combined cash and benefit component specified in the Second Schedule applicable to the member; and

satisfies such terms and conditions as the Board may impose;

there is a relevant transaction in respect of the immovable property and a continued charge is constituted under section 21C(1)(d) of the Act as a result.

any reference to the member is to be read as a reference to the spouse;

sub‑paragraphs (e), (f) and (g) of paragraph (5) are replaced by the following sub‑paragraph:“(e)where the charge under section 27C(1)(i), 27D(1)(j)(ii), 27DA(1)(i) or 27DB(2)(e) of the Act is constituted before, on or after 1 January 2016, or there subsists any section 21C(1) charge C, to secure the payment of an amount to the Board, the spouse —

has applied, in such manner as the Board may require, for that charge to be cancelled;

at the time the Board considers the spouse’s application, has a relevant property charge and the total of the following amounts is equal to or more than the retirement sum applicable to the spouse:

the amount secured by the relevant property charge;

the amount of the retirement sum the spouse has set aside;

at the time the Board considers the spouse’s application, has set aside towards the maintenance of the retirement sum, an amount equal to or more than the minimum combined cash and benefit component specified in the Second Schedule applicable to the spouse; and

satisfies such terms and conditions as the Board may impose.”.

the Board is notified of the spouse’s death;

the spouse is entitled to withdraw the amount standing to the credit of the spouse in the Fund under section 15(2)(b) of the Act or a former provision, or section 15AA(1) of the Act because the spouse is suffering from a terminal illness or disease or a former provision, and the Board has given its authority under section 15(1) of the Act for such withdrawal;

the spouse complies with section 15(6)(a) or 15AA(5)(a) of the Act or a former provision;

the spouse is exempt from complying with section 15(6)(a) of the Act by reason of section 15AA(3)(b) of the Act or a former provision;

there is a relevant transaction in respect of the immovable property and an undertaking is deemed under section 21C(2) of the Act as a result;

where the undertaking under section 27D(1)(j)(i) of the Act is given, before, on or after 1 January 2016 or there subsists any section 21C(2) undertaking B or section 21D(1) undertaking B, the spouse —

has applied, in such manner as the Board may require, for the undertaking not to be enforced;

at the time the Board considers the spouse’s application, has a relevant property charge and the total of the following amounts is not less than the retirement sum applicable to the spouse:

the amount secured by the relevant property charge;

the amount of the retirement sum the spouse has set aside; (iii)at the time the Board considers the spouse’s application, has set aside towards the maintenance of the retirement sum, an amount equal to or more than the minimum combined cash and benefit component specified in the third column of the Second Schedule applicable to the member; and

satisfies such terms and conditions as the Board may impose.

at least (95 – T2) years, where T2 is the member’s age at the time mentioned in paragraph (4)(f)(ii), (5)(f)(ii) or (g)(ii) or (7)(f)(ii), or in paragraph (5)(e) as replaced by paragraph (6)(b), as the case may be; or

such shorter period as the Board may permit.