Singapore legislation
Regulation 5
Regulation 5
Interest
The procedure for crediting interest to the account of a member of the Fund in accordance with section 4(3) of the Act shall be as follows:
(a)
no interest shall be credited to the account of any member of the Fund in respect of the month in which his redundancy payment is paid to the Fund;
(b)
interest at the rate of one-twelfth of 5¼% shall be credited to his account at the end of and in respect of each month beginning with the month next following the month in which his redundancy payment is paid to the Fund;
(c)
the interest to be credited to any member of the Fund in respect of any month shall be calculated in such manner as the Director may, with the authority of the Minister, decide.