Singapore legislation
Regulation 6
Regulation 6
Method of calculation
Subregulation 1
The sum payable to a member of the Fund under section 8(1) of the Act shall be calculated —
in the case of a member of the Fund whose wages were paid at a monthly rate, by reference to that monthly rate; and
in the case of a member of the Fund whose wages were paid at a rate other than a monthly rate, by multiplying that rate in such manner as the Director may decide so as to arrive at a notional monthly rate,and in the calculation of that sum any resulting fractions of a dollar may be ignored.
Subregulation 2
Where at any time it appears that the balance of moneys standing to the credit of a member of the Fund is less than the amount that is payable under section 8(1) of the Act that member shall not be entitled to receive more than the balance of the sum standing to his credit in the Fund.