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Contributions payable in respect of Government employees on SAVER Plan or Premium Plan

Central Provident Fund (Public Sector Employees) Regulations 2011

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—(1) The contributions payable in respect of SAF regular officers who are members of the SAVER Plan (other than those mentioned in regulation 4(c)), and SAF regular soldiers who are members of the Premium Plan (other than those mentioned in regulation 4(ca)), must be in accordance with —(a)the rates set out in the Third Schedule; and(b)where applicable, the monthly sum —(i)under regulation 13A(1) of the Singapore Armed Forces (SAVER Plan) Regulations; or (ii)under regulation 12A(1) of the Singapore Armed Forces (Premium Plan) Regulations,as the case may be.(2) Subject to paragraph (3), any award under the SAVER Plan or the Premium Plan comprising moneys in the SAVER‑Premium Fund CPF Top‑Up Account of an employee in the Singapore Armed Forces who is a member of the SAVER Plan (whether or not he or she has reached his or her SAVER end date) or a member of the Premium Plan must be credited to his or her account with the Fund when, other than by reason of death, he or she is no longer —(a)in the employment of the Singapore Armed Forces; or(b)a member of the SAVER Plan or the Premium Plan.(3) The Government may use any award under the SAVER Plan or the Premium Plan comprising moneys in the SAVER‑Premium Fund CPF Top‑Up Account of an employee mentioned in paragraph (2) to set‑off against any sum owing by that employee when he or she —(a)dies;(b)is no longer in the employment of the Singapore Armed Forces; or(c)is no longer a member of the SAVER Plan or the Premium Plan.(4) Where an employee mentioned in paragraph (2) does not have sufficient funds to maintain the retirement sum required of him or her in his or her retirement account with the Fund, any award of moneys from the employee’s Retirement Account or SAVER Account (as the case may be) under the SAVER Plan or the CARE Account of the Premium Plan must be transferred to his or her retirement account with the Fund to meet the shortfall in the retirement sum.(5) In this regulation —“applicable charge” means any charge or undertaking under section 15(9), (9A), (10), (10A), (11D), (11E) or (11EB) of the Act as in force before 1 March 2022 or section 15AB(1), (2), (3), (4), (10), (11) or (13), 21(1), 21A(1), 21B(1), 21C(1)(d) or (2), 21D(1), 27C(1)(i), 27D(1)(j), 27DA(1)(i), 27DB(2)(e), 27E(1)(h) or 27F(1)(h) of the Act that satisfies the requirement in regulation 4B(2) of the Central Provident Fund (Revised Retirement Sum Scheme) Regulations 1995 or regulation 4B(2) of the Central Provident Fund (New Retirement Sum Scheme) Regulations 2004, as the case may be;“shortfall in the retirement sum”, in relation to the employee, means the amount by which the retirement sum applicable to the employee exceeds the total of the following amounts:(a)the retirement sum that has been set aside by the employee determined in accordance with regulation 4(2) or 4A of the Central Provident Fund (Revised Retirement Sum Scheme) Regulations 1995 or regulation 4(2) or 4A of the Central Provident Fund (New Retirement Sum Scheme) Regulations 2004, as the case may be; (b)the amount of the employee’s applicable charges specified by the Board, not exceeding the maximum amount of the member’s property component under regulation 4(1)(b)(ii) of the Central Provident Fund (Revised Retirement Sum Scheme) Regulations 1995 or regulation 4(1)(b)(ii) of the Central Provident Fund (New Retirement Sum Scheme) Regulations 2004, as the case may be.

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