Singapore legislation

Regulation 4

of Central Provident Fund (Refunds) Regulations 2019

Regulation 4

Deductible sum

For the purposes of section 71(3) or (4) of the Act, the deductible sum that may be set off against each retained amount is as follows:

(a)

where the retained amount is retained from an amount paid by a contributor as an employer or a platform operator and to be refunded to the contributor — any of the following amounts:

(i)

any contribution that the contributor is required to pay under section 7 of the Act as an employer or under section 8A of the Act as a platform operator;

(ii)

any interest that the contributor is required to pay under section 9(1) of the Act as an employer or a platform operator;

(b)

where the retained amount is retained from an amount credited to a member’s account in respect of the member as a self‑employed person, an employee or a platform worker and to be refunded to the member — any of the following amounts:

(i)

any contribution that the member is required to pay under section 9A of the Act as a self‑employed person;

(ii)

any interest that the member is required to pay under section 9(2) of the Act as a self‑employed person.

Read in full context — Central Provident Fund (Refunds) Regulations 2019 →