Singapore legislation
Regulation 17AG
Regulation 17AG
Withdrawals and vesting of contributions
Subregulation 1
Unless otherwise provided in these Regulations, where a Category B member retires or is required to retire from the Singapore Armed Forces on any of the grounds specified in regulation 12(a) to (i) or he resigns from the Singapore Armed Forces, the following sums vest in the Category B member and may be awarded in respect of that Category B member:
the portion of the moneys in the Category B member’s SAVER Account that is specified in Part 1 of the Third Schedule in relation to the Category B member’s age at the date of his retirement or resignation, as the case may be;
the portion of moneys standing to the Category B member’s credit in his Savings Account (if any) that is specified in Part 2 of the Third Schedule in relation to the Category B member’s length of reckonable service at the date of his retirement or resignation, as the case may be.
Subregulation 2
Where a Category B member retires or is required to retire from the Singapore Armed Forces on either of the grounds specified in regulation 12(j), either of the following vests in the Category B member and may be awarded to him, at his option, subject to any conditions that the Armed Forces Council may, by General Order, impose:
all moneys standing to his credit in his SAVER Account and his Savings Account (if any) at the date of his retirement;
his specified salary for each full year of his reckonable service and a proportion of that specified salary based on the total remaining months of his reckonable service (if any), capped at 25 full years.
Subregulation 2A
In paragraph (2) —
Definition
“full year”, in relation to a Category B member’s reckonable service, means a whole calendar year, or the total of 12 whole calendar months from 2 or more calendar years, of the member’s reckonable service;
Definition
“specified salary”, in relation to a Category B member, means one month of the member’s last drawn salary, excluding any bonus or allowance;
Definition
“total remaining months”, in relation to a Category B member’s reckonable service, means the total number of whole calendar months of the member’s reckonable service not already accounted for as part of any full year of that member’s reckonable service.
Subregulation 3
Despite paragraph (1), where a Category B member retires from the Singapore Armed Forces —
on the ground specified in regulation 12(c) or (e), the sum vested in the Category B member under paragraph (1) may be reduced to the extent determined by the Armed Forces Council; or
on the ground specified in regulation 12(d), (f), (h) or (i), the sum vested in the Category B member under paragraph (1) may be increased to the extent and paid in the manner determined by the Armed Forces Council.
Subregulation 4
Despite any provision in these Regulations but subject to paragraph (5) and regulation 25(6), no sum in an opted Category B member’s SAVER Account is to vest in the opted Category B member under paragraph (1) unless the opted Category B member has completed at least 11 complete years of reckonable service.
Subregulation 5
Paragraph (4) does not apply to an opted Category B member who retires on either of the grounds specified in regulation 12(j).
Subregulation 6
The Board may authorise the payment to the serviceman, or a person eligible to make an application under regulation 18, of the sum vested in the Category B member in accordance with paragraphs (1) to (5).
Subregulation 7
Where a Category B member is either discharged or dismissed in the circumstances referred to in regulation 17AF, the Board may, on the application of the person eligible under regulation 18, authorise the payment to the applicant of all moneys in the Category B member’s SAVER Account and Savings Account (if any) not forfeited by the Armed Forces Council under regulation 17AF.
Subregulation 8
Where a Category B member’s CPF Top-Up Account (if any) is closed under regulation 17AD(2)(b), the Board must transfer all moneys in the Category B member’s CPF Top-Up Account to the CPF Board to the credit of the Category B member’s account in the Central Provident Fund.
Subregulation 9
Where the total amount standing to the credit of a Category B member in the CPF after any transfer of moneys under paragraph (8) is less than the retirement sum prescribed for the purposes of section 15(6) of the Central Provident Fund Act 1953, the deficiency in the Category B member’s CPF account must be met out of the vested sum in the Category B member’s SAVER Account.
Subregulation 10
The Board must credit to the Forfeiture Account of the SAVER-Premium Fund any balance of moneys in the closed SAVER Account or Savings Account (if any) of a Category B member after the amount allowed to be withdrawn from that SAVER Account or Savings Account (if any) under these Regulations has been paid.
Subregulation 11
For the purposes of this regulation and Part 1 of the Third Schedule, a Category B member attains the age mentioned in this regulation or that Schedule (as the case may be) on the relevant anniversary of his birthday.
Subregulation 12
For the purposes of paragraph (11) —
a reference to the anniversary of a Category B member’s birthday is a reference to the day on which the anniversary occurs; and
a Category B member who is born on 29 February is deemed to attain the age mentioned in this regulation or Part 1 of the Third Schedule (as the case may be) in any year that is not a leap year on 28 February of the year in which the member attains that age.