Regulation 17AE

any moneys in his CPF Top-Up Account maintained in respect of him as a member of the Premium Plan must be transferred to his CPF Top-Up Account maintained in respect of him as a member of the SAVER Plan; and

the moneys in his CARE Account maintained in respect of him as a member of the Premium Plan must be transferred to his SAVER Account.

an amount (A) which is calculated in accordance with the following formula must be awarded to him under any conditions that the Armed Forces Council may determine in a General Order: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;

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;

where the soldier has completed at least 6 years of reckonable service, an amount (B) which is calculated in accordance with the following formula must be credited into his SAVER Account: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;

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.

RB3 is either of the following retention bonuses that would have been payable to the soldier had he remained a member of the Premium Plan:

if the soldier had, on the date that he becomes a Category B member under paragraph (d) of the definition of “Category B member” in regulation 2(1), attained the rank of Warrant Officer and not attained 40 years of age — the retention bonus when he attains 40 years of age, mentioned in regulation 18A(1)(b)(ii) of the Singapore Armed Forces (Premium Plan) Regulations;

if the soldier had, on the date that he becomes a Category B member under paragraph (d) of the definition of “Category B member” in regulation 2(1), attained the rank of Warrant Officer and attained 40 years of age but not attained 45 years of age — the retention bonus when he attains 45 years of age, mentioned in regulation 18A(1)(b)(iii) of the Singapore Armed Forces (Premium Plan) Regulations; and

RS3 is the number of complete months of reckonable service completed by the soldier as a member of the Premium Plan between the following dates (both dates inclusive):

in the case of a soldier mentioned in sub-paragraph (a)(i) —

the date on which he started his reckonable service as a member of the Premium Plan or attained 35 years of age, whichever is later; and

the date immediately before the date he becomes a Category B member under paragraph (d) of the definition of “Category B member” in regulation 2(1);

in the case of a soldier mentioned in sub-paragraph (a)(ii) —

the date on which he started his reckonable service as a member of the Premium Plan or attained 40 years of age, whichever is later; and

the date immediately before the date he becomes a Category B member under paragraph (d) of the definition of “Category B member” in regulation 2(1).

his SAVER Account and CPF Top-Up Account (if any) must be closed with effect from the date of the reversion;

all contributions under these Regulations must also cease to be paid into his SAVER Account with effect from that date; and

all moneys in his SAVER Account and CPF Top-Up Account (if any) must 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.