Singapore legislation
Regulation 13
Regulation 13
Contributions
Subregulation 1
Subject to these Regulations, the Board shall cause to be credited to the accounts of each Category A member in the SAVER-Premium Fund as follows:
in the case of the CPF Top-Up Account, a monthly sum equal to the difference between —
the amount of contributions paid by the Government under the Central Provident Fund Act 1953 in respect of the member on his gross salary; and
the amount of contributions payable by an employer other than the Government under the Central Provident Fund Act 1953 on ordinary wages equal to that gross salary,subject to the maximum amount of contributions permissible under that Act;
in the case of the Retirement Account, a monthly contribution at the prescribed rate of the member’s SAVER salary less the sum referred to in sub-paragraph (a);
(ba)[Deleted by S 438/2025 wef 01/07/2025](c)in the case of the Savings Account, a monthly contribution at the prescribed rate of the member’s SAVER salary; (d)any dividend declared by the Board under paragraph (4).
Subregulation 2
The Board shall, subject to the directions of the Armed Forces Council, credit to the accounts specified in paragraph (1) every contribution and dividend in such manner as the Armed Forces Council may direct, and the Armed Forces Council may give different directions in respect of different classes of members.
Subregulation 3
Notwithstanding paragraph (1), no contributions shall be credited in respect of —
any period of service forfeited by sentence of a subordinate military court or Superior Commander or as a result of a decision of the Military Court of Appeal or a review of the Armed Forces Council, other than service forfeited for the purposes of promotion, in accordance with the provisions of the Act or any other written law for the time being in force;
the whole period of absence without leave;
the whole period of desertion;
the whole period of detention or special detention or imprisonment while undergoing a sentence awarded by a subordinate military court or the Military Court of Appeal or disciplinary officer;
the whole period of imprisonment or detention as a result of his conviction on a charge by a civil court;
the whole period of remand, custody, confinement, detention, open arrest or close arrest or suspension from duty while waiting for trial by the civil authority or military authority on a charge of which the member is subsequently convicted if during the period he has received no pay;
the whole period in which pay is forfeited; or
the whole period of leave of absence without any pay granted to a member, except for the following periods:
the whole period of no pay maternity leave;
the whole period of unpaid infant care leave as the Armed Forces Council may determine in a General Order;
the whole period of unpaid leave for unexpected care needs as the Armed Forces Council may determine in a General Order.
Subregulation 4
The Board may, during each financial year, declare to the member’s accounts in the SAVER-Premium Fund a dividend out of the net income and net unrealised profits of the SAVER-Premium Fund for that financial year.
Subregulation 5
In this regulation —
Definition
“net income” has the meaning given by regulation 2 of the Singapore Armed Forces (SAVER-Premium Fund) Regulations;
Definition
“prescribed rate”, in relation to any contributions for a member, means the rate prescribed in the First Schedule in relation to the number of complete years of reckonable service completed by the member when the contribution is credited to the member’s Retirement Account or Savings Account, as the case may be.