Suggest a correction

Topping-up of shortfall in retirement sum during subsequent withdrawals

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) Where a member applies to make a withdrawal after the member attains 55 years of age and has not at the time of withdrawal set aside the retirement sum applicable to the member, the Board must transfer half the amount of moneys standing to the member’s credit in the member’s ordinary account and special account (excluding the amount specified in paragraph (3)) to the member’s retirement account to meet the shortfall in the retirement sum applicable to the member, except where the amount to be transferred is $100 or less.(2) Despite paragraph (1), a member may transfer the whole or part of the amount in the member’s ordinary account (excluding any reserved amount standing to the member’s credit in that account) or special account to the member’s retirement account to meet the shortfall in the retirement sum subject to such terms and conditions as the Board may impose.(3) The amount to be excluded referred to in paragraph (1) is —(a)the reserved amount standing to the member’s credit in the member’s ordinary account at the relevant time; and(b)the member’s remaining committed amount, if any.(4) In paragraph (3), “relevant time” means the time of the withdrawal under paragraph (1).

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.