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Computed amount under paragraph (a)(ii)(A) of definition

Central Provident Fund (New Retirement Sum Scheme) Regulations 2004

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THIRD SCHEDULERegulation 3 and Second ScheduleComputed amount under paragraph (a)(ii)(A) of definitionFirst columnSecond columnDate on which a member attains 55 years of ageComputed amount(a)On or after 1 July 2004 but before 1 July 2005$668(b)On or after 1 July 2005 but before 1 July 2006 $711(c)On or after 1 July 2006 but before 1 July 2007$750(d)On or after 1 July 2007 but before 1 July 2008$790(e)On or after 1 July 2008 but before 1 July 2009$910(f)On or after 1 July 2009 but before 1 July 2010$1,040(g)On or after 1 July 2010 but before 1 July 2011$1,100(h)On or after 1 July 2011 but before 1 July 2012$1,170(i)On or after 1 July 2012 but before 1 July 2013$1,240(j)On or after 1 July 2013 but before 1 July 2014$1,320(k)On or after 1 July 2014 but before 1 July 2015($357 ÷ $39,999) × Z, rounded to the nearest $10In item (k), Z is the retirement sum applicable to the member.Note:1. The computed amount is derived on the basis of —(a)the retirement sum applicable to a member being set aside, in full, in cash in the retirement account;(b)the interest rate for the retirement account applicable on —(i)1 July of a year, if the member attains 55 years of age on or after 1 July of that year and before 1 July of the following year (being 2016 or earlier);(ii)1 July 2015, if the member attains 55 years of age on or after 1 July 2016 and before 1 January 2017; or(iii)1 January of a year, if the member attains 55 years of age in that year (being 2017 or later); and(c)distributing the monthly payouts over 240 months, wherever possible.2. The amount $357 is the computed amount (rounded up to the nearest dollar) for a member who has set aside a retirement sum of $39,999 in cash.

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