Suggest a correction

Transfer to retirement account of certain moneys credited or refunded to ordinary account or special account

Central Provident Fund (Revised Retirement Sum Scheme) Regulations 1995

Match the official source exactly.

What needs fixing?

Wrong or mistyped textWrong structure or numberingWrong title or detailsDuplicated content

Proposed text

—(1) This regulation applies where —(a)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;(b)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;(c)the restored amount in sub‑paragraph (b) is then transferred —(i)to the retirement account of a relevant individual under section 18(1)(a) or (2)(a) of the Act; or(ii)to the special account of a relevant individual under section 18(3)(a) of the Act; and(d)the transferred amount in sub-paragraph (c), or the balance of that amount, is then —(i)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(iii)paid to the member’s retirement account under section 19(2A) of the Act.(2) The Board must transfer the lower of the following amounts under section 15(6CA) of the Act from Account A to the member’s retirement account:(a)the shortfall in the retirement sum applicable to the member; (b)the credited or refunded amount.

What's the problem? (required)

Source link (optional)

Describe the problem (and edit the text or pick an issue type) to submit.

Suggestions are submitted anonymously. No account or personal information is required or sent.