Singapore legislation
Regulation 15A
Regulation 15A
Application to officer cadets who are former soldiers
Subregulation 1
Where a soldier who is a member of the Premium Plan becomes an officer cadet after between 1 April 2000 and 30 June 2025 (both dates inclusive), the moneys in his accounts maintained under regulation 12(1) of the Singapore Armed Forces (Premium Plan) Regulations (Rg 22) shall be transferred as follows to his accounts under the SAVER Plan referred to in regulation 13(1):
all his moneys in the CPF Top-Up Account under the Premium Plan shall be transferred to his CPF Top-Up Account under the SAVER Plan; and
all his moneys in the CARE Account under the Premium Plan shall be transferred to his Retirement Account under the SAVER Plan.
Subregulation 1A
In addition to the transfers mentioned in paragraph (1), where a soldier who is a member of the Premium Plan after 31 March 2010 becomes an officer cadet between 1 April 2010 and 30 June 2025 (both dates inclusive) —
an amount, A, which is calculated in accordance with the following formula must be credited into his Savings Account under the SAVER Plan:where —
RB1 is any retention bonus that would have been payable to the soldier had he remained a member of the Premium Plan for 10 years; (ii)RS1 is the period of the soldier’s reckonable service as a member of the Premium Plan immediately before the date that he becomes an officer cadet; and
S1 is the number of years of service required for any RB1 to be payable to the soldier; and
where the soldier has not less than 6 years of reckonable service, an amount, B, which is calculated in accordance with the following formula must be credited into his Retirement Account under the SAVER Plan:where —
RB2 is any retention bonus that would have been payable to the soldier after more than 10 years had he remained a member of the Premium Plan; (ii)RS2 is the period of the soldier’s reckonable service as a member of the Premium Plan, starting on the first day of his 7th year of reckonable service and ending on the date immediately before the date that he becomes an officer cadet; and
S2 is the number of years of service required for any RB2 to be payable to the soldier.
Subregulation 2
Where a soldier who is a member of the Premium Plan becomes an officer cadet after 31st March 2000 without completing 10 years of reckonable service as a soldier there shall also be immediately credited to his Savings Account under the SAVER Plan an amount equal to such proportion of his START benefit referred to in regulation 13 of the Singapore Armed Forces (Premium Plan) Regulations (Rg 22) as the proportion of his reckonable service bears to 10 complete such years, less such part of the START benefit that has been advanced to him under regulation 13 of those Regulations.
Subregulation 3
Where a Category A member who became a member under paragraph (ba) of the definition of “member” in regulation 2(1), fails his officer cadet training and reverts to being a soldier —
all his accounts under the SAVER Plan referred to in regulation 13(1) shall be closed with effect from the date of such reversion;
all contributions under these Regulations shall also cease to be paid into those accounts with effect from that date;
all moneys in his Savings Account (including the amount credited under paragraph (2)) shall be forfeited and transferred to the Forfeiture Account to the SAVER-Premium Fund; and
all moneys in his other accounts under the SAVER Plan shall be transferred to his re-opened accounts under the Premium Plan in accordance with regulation 16(3) of the Singapore Armed Forces (Premium Plan) Regulations, and all other moneys not so transferred must be forfeited.