Suggest a correction

Manner of payment from amount retained in retirement account, where member attained 55 years of age before 1 January 1987

Central Provident Fund (Retirement Sum Topping-Up Scheme) Regulations 1995

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Wrong or mistyped textWrong structure or numberingWrong title or detailsDuplicated content

Proposed text

—(1) For a member who attains 55 years of age before 1 January 1987, paragraphs (2) and (3) apply to the payment of —(a)any monthly income or amount due to the member under regulation 10C(1) or (3) or 10E;(b)any balance due to the member under regulation 10F(2); or(c)any additional amount due to the member under regulation 10D(1) or (3).(2) The Board may make the payments mentioned in paragraph (1) in any manner prescribed in the following sub‑paragraphs, as the Board thinks fit:(a)payment into the member’s bank account;(b)issuing a cheque or any other physical payment instrument to the member;(c)crediting the member’s ordinary account;(d)any other manner of payment applied for by the member.(3) If the Board makes payment in accordance with paragraph (2)(c), the Board may also credit to the member’s ordinary account the whole or part of the interest that would have been payable on the amount of the payment if the payment had been credited to the member’s ordinary account on becoming payable.

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